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Short Sale Real Estate Agents in Pleasant Springs, WI 53589  Are you looking for a Pleasant Springs Wisconsin Short Sale Realtor® or real estate agent? Rock Realty is a real estate brokerage that specializes in Short Sales and Bank Owned Foreclosures in the Pleasant Springs WI area.   My name is Michael Collins, broker for Rock Realty. I have completed the Short Sales and Foreclosure Resource training and have been given the SFR designation through the National Association of Realtors®. Feel free to contact me directly at 608-921-8536 for help with any of your short sale questions. I have helped many home owners with their distressed property needs.

REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities. The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk. 

A Certified Distressed Property Expert® (CDPE) is a real estate professional with specific understanding of the complex issues confronting the real estate industry. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today's market. 

What is a Short Sale? A short sale occurs when a lender agrees to take less than the amount owed to payoff a loan as an alternative to foreclosure. Lenders know that it will cost them a significant amount of money to take a property back. The Realtors® at Rock Realty can often convince them that they will be better off financially if they sell the property now rather than taking the home through foreclosure and trying to sell it later. So, a short sale can actually be good for the bank. It can also be good for the home owner, as it is typically better to perform a short sale on their Pleasant Springs property instead of letting it proceed to foreclosure. If you are considering the possibility of a short sale for your Pleasant Springs Wisconsin home and have further questions, feel free to visit the information page below. 

Wisconsin Short Sale Information

Additional Short Sale Information

• What is a short sale?
• Is a Short Sale right for my home?
• Half of Homeowners Underwater on their Mortgage
• Buying a Wisconsin home after a Short Sale or Foreclosure
• Benefits of Buying an Owner-Occupied Wisconsin Short Sale
• Tips for Buying a Wisconsin Short Sale

Rock Realty SOLD Short Sale Listings

514 S Jackson St, Janesville WI | 900 King Street, Stoughton WI 105 W Main St, Brooklyn WI | 408 S Academy Street, Janesville WI 449 Farnham St #2, Marshall WI | 1117 Ontario Dr, Janesville WI 4602 N Katherine Dr, Janesville WI  

Just Sold! 409 East Street, Stoughton WI 53589

We are happy to announce a recent home closing in Stoughton, Wisconsin. This was a home closing where Rock Realty represented both the buyers and the sellers. The sellers had moved out of state and left it to Michael Collins at Rock Realty to guide the transaction to a successful close. I know the buyers are excited to start their planned renovation to make the home just right for them! Congratulations to everyone involved!

If you are thinking of selling or buying a home in Wisconsin, our home buyer specialists would be happy to assist you. Give Rock Realty a call at 877-774-7625. We are a full service real estate brokerage.

Stoughton, WI Homes for Sale

OTHER ARTICLES

• Getting Pre-Approved for a Mortgage Before Looking for a Home
• First Time Buyers: How To Wade Through Real Estate Lingo
• What’s Just as Important As Location When Choosing a Home?
• 10 Things that are Good to Know Before Buying a Home
• Tips for your first Home Inspection
• Tips for Purchasing a Foreclosure
• Tips for Picking the Right Wisconsin Home

The Homeward Residential Short Sale that I listed, then got transferred to OCWEN has been quite straight forward.  OCWEN contacts responded to me when I informed them that I already had an offer with Homeward, and it only took about 2 weeks to get the offer uploaded into OCWEN. 

Took another 6 weeks or so to get final approval, but they did not counter at a hyper inflated price and my original offer/buyers stand.  We are in Escrow to close in 45 days or earlier.

This was my most recent OCWEN experience.  I have a new Short Sale Listing with OCWEN coming up in La Quinta in May.  I'm hopeful that it will generate the same smooth responses!

I haven't been listing nearly as many short sales this year. There are not as many upside down homeowners here in the Palm Springs Valley, and that's a good thing!  I have also become very saavy about which short sales have the highest percentage for a successful closing.

New La Quinta short sales coming up next week …

1.  North La Quinta single-family home in the highly desirable community of Bella Vista . One of the largest corner lots which also features a family pool and spa.  Seller is being relocated out-of-state for a job.  The note is with CITI mortgage.

2. PGA West champion for condominium on the Arnold Palmer course.  $307,000.   This condo has consistent rental history and has been well maintained.   Seller has moved out of the country and cannot continue with mortgage payments.   One note with OCWEN.

To view all La Quinta and Palm Springs Valley homes, land, or you equestrian properties … 

Palm Springs and the desert cities in general are seeing declining short sale listings.  Not just the numbers in listings, but also the prices have begun to creep up to closer to FMV.  Why?  I suspect there are several things at work here...

1.  We are a resort town.  By that I mean, there are many buyers wishing to own in our winter wonderland and so very few propeties languish on the market. 

2.  The new inventory which was hardest hit..2003-2006 built..have been sold out.  These developments have mostly turned. 

Short Sales have been purchased, refurbished, moved into or resold and have new homeowners.  Equity sales or standard sales are increasingand our inventory is markedly low..all across the valley.  There are still great values to be had if you compare price/sf to what they were in the peak, but those smashing Short Sale values???  Not so much.

This cute little house was listed, negotiated, and CLOSED in less than 90 days by your Palm Springs Short Sale Specialist!

Primary home and the Sellers were relocated.  One note with Chase, and the negotiator was good; meaning she responded relatively quickly.  The closer dropped the ball a couple times, but nothing awful.  No cost to Seller, all deficiencies forgiven, and they've moved on with their lives.  Buyer got a great little investment home.  All is well.

This lovely little home in the La Quinta Cove will get a facelift, and be available for a tenant within the next two weeks.

List Price:  $130,000   Closed at $135,000

Chase write down?  Approx. $50,000.  Not huge, and now the home can be occupied after it's freshening up. 

I list, work and CLOSE my short sales!  No third party negotiators used or needed.  FREE consultations!

Only TWO closes left to accomplish in 2012. 

One with GMAC who used to be so easy.  Single family home in a 55+ area of Desert Hot Springs, CA.  Then they hired a Negotiation company, who fouled up the deal and then the Investor, FNMAE pulled their usual, "If you can't get me this much money..forget it!"  OK..the buyers did forget it!  I presented them the Valuation argument with supporting comps.  Had an offer for $235,000...which was over comps, but the buyer had a friend there and liked the location.  Nope says FNMAE..so months later, I kept reducing and now I have ONE offer at $200,000.  Just left $35,000 on the table, and months in the bottleneck of Short Sales.

My second Short Sale is a riot of fun!  Wells Fargo is the servicer, but they pulled the "bait and switch" to a new servicer in the middle of my last offer and the buyer fatigued and walked..and it was for $137,500..way over market!  Now, this same Condo in Indio has one offer I had to beg to get at $115,000.  No back ups.  Value has dropped, HOA's are high, older unit and the neighboring unit closed as an REO at $90,000!  Again, FNMAE as the Investor came back at $154,500 and we won't take a penney less!  OK..don't, leave another $20,000+ on the floor..

They are both assigned negotiators and we'll see if they decide to proceed.  Our Mortgage Debt Relief Act here in California expires on Jan. 1, so Sellers don't really care if it shorts or forecloses unless it's closed before 12/31. 

The good news is that ALL my short sale listings (dozens this year) have closed, approval letters with correct verbage, relocation fees paid out, Sellers paid zero..all good.  Now if I can just get these two closed.....

Here in the Palm Springs Valley of California, the past 4 years have seen a pile of Short Sales listed and closed.  Unfortunately, there have also been some questionable methods to this short sale madness.  This article sums up some of the Short Sale fraudulent practices that are showing up more and more frequently.  If you are considering a Short Sale, be sure to use a list Agent that is experienced in your area and bone up on the Short Sale Law in your state.

Don’t let your Short Sale turn into a Lemon..

Short Sales are here to stay for another couple of years.  The Deficiency protections afforded to Sellers of Short Sales in California is ecpiring 12/31/2012.  Will it be extended?  Nobody knows for sure.  It would be the smart thing to do  in our non-recourse state to avoide a slew of Foreclosures..but Lenders are not know for their “smarts”..rather their bottom lines on their books.

There is alot of Short Sale fraud happening.  Be careful about your List Agents and document everything!

.  Orange County Register

Short sale fraud “heating up,” expert says A panel of short sale experts presenting at CALIFORNIA REALTOR® EXPO 2012 in Anaheim last week said that “fraud is heating up like a wildfire right now …” and “we’ve got to be aware that this fraud is changing directions, jumping containment lines.”

• Short sales involve the selling of a home for less than is owed on its mortgage.
• Among the most common forms of fraud are: Flopping, non-arm’s length transaction, side agreements, and false information.
• Flopping: Scammers arrange to buy a home at an artificially deflated price intending to flip it immediately at its actual value.
• Non-arm’s length transactions: The buyer in a short sale is related to the seller by blood, marriage, or some type of business or personal affiliation.  This istypically arranged by an underwater borrower to regain ownership of the property free from the mortgage debt.
• Side agreements: In addition to payments included in a lender’s “approval letter,” the buyer and seller have side agreements to pay off junior liens, short sale negotiators’ fees, or other third-party fees.
• False information: The transaction includes phony details in the closing settlement statement, or HUD-1, to hide buried costs and fees.

I will do NOTHING that is not disclosed on the HUD.  Sellers and Buyers may not have ANY knowledge of each other.  Short Sales must be taken very seriously..

Short Sales are listed to be APPROVED, and that's just what has happened...again here in La Quinta, California.

5255 Avenida Obregon, La Quinta, CA. 

Primary Residence with one note with Chase.  Sellers were relocated for work. 

Listed and approved in approx. 90 days. 

Approx. Note value: $165,000

Approved at $135,000.  Not a huge write down for the Lenders, and they were relatively quick to respond.

Remember that if you want your Short Sale to be APPROVED, choose an experienced and certified Short Sale expert in your area.  It DOES make a difference.

Beautifully maintained 3bd/2ba Condo in Indian Palms Country Club; Just Listed.  $138,000.  This home is on an end parcel so common areas surround it, making it very private and quiet.  Plus..the Eastern porch is right on the Fairway!  3bd/2ba, built in 1981, with vaulted ceilings and a remodeled kitchen..even includes a single enclosed garage + a covered carport..what a deal!  The kitchen has stainless appliances, including a anew double sink and gorgeous slab granite.  There is a seperate dining room with a wet bar, a family room with sliders to the fairway porch, a large master bedroom with walk in closet and another porch and 2 additional bedrooms for guests.

Indian Palms CC, is off of Monroe Ave. in West Indio, and about 5 minutes from the Polo fields which is why so many equestrians have seasonal homes here.  A public golf course that is  "pay as you play, plus an onsite restaurant, clubhouse and gym if you choose to pay the very low gym membership, and lots of community pools.  One of the best deals in the desert with HOA's of approx. $250/month depending on where your home is.  This covers landscape, trash, insurance and exterior maintenance.

The borrower has only one note with Wells Fargo and was relocated for work, so should be relatively quick.

I list, negotiate and CLOSE my short sales, so there is no third party to deal with in my transactions. 

Just one more home loan adjusted, wiped off the books and a new buyer in place here in La Quinta.  This 3 bdrm/2ba courtyard POOL home was built in 1993 and approximately 1550 sf.  Currently has a tenant in place that has signed a lease with the new Buyers. 

Avenida Alvarado in the La Quinta Cove.

Original note value of $386,000.  Purchased in 2007.  Chase was the lienholder.  This home was purchased as an investment property.  No negotiation company used, needed or paid.  I like to have my hands and mind in on every trick for each of my Short Sales.  I love a challenge!

Closed at $141,000.  Seller paid zero, buyer paid zero. 

Listed to Close in Escrow in less than 90 days.   Lender had to have a couple extensions, but a pretty quick close nonetheless. 

La Quinta property values are actually increasing.  The entry level homes ($250,000 or less) have gone up approx. $10/sf since the bottom in the last Q of 2011.  There are multiple offers on almost every entry level home. 

There are still good deals to be had in La Quinta, just not quite as low as 2011.

Questions on your property value?  Give me a call at 760-285-3578 or www.kimberleyjoykelly.com should help..

Another La Quinta Short Sale listed, negotiated and CLOSED!  Cute as a button 3bd/2ba single family in the La Quinta Cove.  Seller paid $318,000 in 2006, then added granite counter tops, 18 by 18 ceramic tiles floors with hardwood floors in the bedrooms and even a custom fireplace mantle!  One note with Carrington Mortgage and SOLD for $135,000. 

Listed February 17, 2012.  Offer submitted March 15, 2012.  Approved April, 2012 and Closed 6/7.   Buyer used a conventional loan with 20% down and the loan took 45 days to fund/record.

Borrower relocated to start fresh.  Buyer is thrilled!

If you are thinking of shorting  your property in the Palm Springs Valley including Rancho Mirage, Indian Wells, Palm Desert or La Quinta, give me a call at 760-285-3578.  I'm certified, offer 5 years of experience with most Lenders, and references are provided upon request.  Free and discreet consultations of course!

This La Quinta Short Sale was not a slam dunk.  Two notes with different Lenders, but still CLOSED in approx. 95 days.  I don't just list my Short Sales..I CLOSE them. 

81375 National Dr.  La Quinta, California   PGA West

First note with B of A:  Approx. Value of 1.4 million

Second note with Chase (HELOC):  Approx. value $250,000.

Negotiated Sales Price:  $925,000 with $8500 going to Chase.  Both lienholders released their right to pursue for deficiencies. 

Sounds low, right?  But this is a very Fair Market Value for this lovely home.  Norman Estates in PGA West is a gorgeous neighborhood that was built between 2004-2006.  I was the onsite Sales Manager and sold all 58 homes.  Truly gorgeous homes..but they have dropped tremendously in value.  I remember drive by appraisals when I was sitting in the Sales office.  The Appraisers didn't even come in to get keys to homes..rather they did "drive bys" and submitted their appraisals and that same home that I had just closed at $850,000 was now worth $1,150,000!!!  I was stunned and also forwarned of what was to come.  That was the start of my Short Sale education nearly 5 years ago. 

I don't just list my Short Sales...I CLOSE them!  If you are underwater on your mortgage in the Palm Springs Valley..La Quinta, Palm Desert, Indian Wells, Rancho Mirage or Palm Springs, give me a call for your FREE consultation.

PGA West, the 6 course golf community in La Quinta, California is where my latest approval came through.  This gorgeous single family residence with our most desireable orientation (South for most sun!), had two notes against it.  The owner had tried to sell it for almost 3 years..always chasing the market and not succeeding.

81-375 National Dr.  Listed on 5/27 and approved on July 18, 2012.  Less than 60 days for BOTH Lienholders approval. 

PML:  Bank of America   Note Value of approx. $1,400,000

HELOC:  Chase    Note Value of approx. $250,000

Negotiated amounts:

Bank of America:  $925,000 Sales Price with an $8500 payout to Chase.  Very much a fair market value for this property. Chase was first with their approval..but only by a couple days. 

I list, negotiate and CLOSE my Short Sales.  Certified and experienced with plenty of references, I enjoy my Short Sale work!  Equity Sales are also picking up tremendously in my Palm Springs Valley, as prices have pretty much stabilized in all price points..it's a good time to be a Buyer! 

2011 has turned out to be a good year for my HAFA short sales. They seemed to move along quicker, so maybe that idea of "stream lining the HAFA process" has actually hit the Lenders.

This was a gorgeous little condo in Indian Creek Villas, in Palm Desert, California. Great location off of Hwy 74, which crosses the mountain from our desert floor over to San Diego. A short distance above our premier shopping area, El Paseo, (the deserts' Rodeo drive), and Hwy 111 is 5 minutes away. Hwy 111 is the artery connecting East Valley (La Quinta, Indio,) to West Valley, (Cat City & Palm Springs) and every city in between..such as Palm Desert, Rancho Mirage and Indian Wells.

Indian Creek Villa Condos sold at the peak for mid $200,000's and are short selling now for $75,000 or so. HOA's are only $225/month and include landscape and a community pool..and a stellar location.

This was a B of A Short Sale, and Seller had already applied for Loan Mod and been turned down...of course! Listed, offer in, negotiated, put into Escrow and recorded in 96 days. Would have been quicker, but the Buyer had a 45 day loan contingency.

Seller received their $3,000 relocation fee..which will help her move on with her life..success in the Short Sale world is twice as sweet!

Have a great property listed short with one loan with B of A..primary residence, Seller not trying for HAFA..slam dunk!  But..the darned BPO came in $130,000 over market!  It hasn't happened to me often with B of A short sales, usually that's reserved for Chase who I suspect may specifically try to hire Agents that submit high BPO's ??? 

Buyer #1:  Submitted $850,000.  B of A countered at $980,000 because that is what the BPO "supports".Buyer didn't even want to counter..too far apart.  They walked and I re-listed at $980,000 after submitting my comps and supporting docs and going back and forth to no avail.

Buyer #2:  Submitted $851,000.  B of A countered again at $980,000 and "has comps to support it."  Again, I submit my real comps (BPO is based on surrounding streets and developments..why didn't she use THIS street?  Plenty of closed comps....)  Again..buyer walks.

Buyer #3:  Submitted $865,000..wow!  BPO expires 1/6.  I have a sane negotiator and we talked back and forth via equator and e-mail..B of A countered at $980,000 AGAIN!  OK, I tell my guy, your investors are leaving $15,000 on the table because this home will generate another offer at $850,000 or less when this buyer walks and the file is closed and I re-list and you finally order a CORRECT BPO! 

I figured he'd just stick to the $980,000, but he sent me an e-mail, "I am going to submit this to the Investors and let's see what they say.."  At least he's giving it a go. 

I just like to report on sane responses because so many of them are not.  To Be continued...

La Quinta, California Short Sale CLOSED!  Listing to Recording in less than four months..and that was after first position Buyer walked!

•  
• SHORT SALE STATISTICS

• Bank of America, one note, no MI
• Primary Residence
• Seller Hardship was loss of Income for one spouse
• Original Note Value:  $320,000
• Closed Sale Price:  $150,000 (conventional loan)
• B of A accepted approx. .45 cents on the original dollar

Bit of a panic as B of A had not approved Final HUD until late yesterday afternoon, and then it was via Equator..but got it recorded!

ANOTHER SHORT SALE CLOSED; Indio, California   This one took some fancy footwork, but got it listed and closed in less than 90 days..whew!

Sellers came to me two weeks before Sale Date end of August.  There was a tenant in the house, and they would not allow entry to Buyers..so "contingent upon Inspections" was in order.  Done.

Lender was Chase..not one of my favorites, but only one loan so hoped for the best.  Got it!  This BPO came in on target and the Negotiator was very sane.  Sweet! 

Buyers financed with a VA loan..not always the beset for Short Sales as they are 100% financing and tons of conditions, but this time it worked. 

Sellers are relieved and the Buyer is thrilled.  The sweet smell of happiness in the Short Sale world..

Closed another Short Sale in Rancho Mirage, California.  Recorded yesterday for $265,000.  Bank of America notes at approximately $485,000.  

My Seller is a lovely woman who LOVED this condo.  She and her husband spent many happy years there.  Her husband died a couple years ago, and it just became too emotional for her to live there.  Emotional as well as expensive.  She finally gave in and decided to short sale it with me. 

My Buyer is a Canadian who was looking for a gated community with lakes.  He got it!  This community on the Northern side of Rancho Mirage, Lake Mirage Racquet Club, is fantastic.  He has a lovely condo with a private boat dock, and Western views of the Santa Rosas' over the lake..yes, here in the desert!!!  We truly do have it all.

My Seller is relieved and her stress level plummeted yesterday with Recording.  My Buyer is thrilled to have his desert winter retreat..all is well in the Short Sale world. 

Short Sales truly are a tremendous way out for both Buyers and Sellers...I list, work and CLOSE my Short Sales.  No negotiation company used or needed.  I actually enjoy the negotiations!

Palm Springs, California had some interesting sales statistics for June, 2011.  What intrigued me is that my own Sales number almost directly reflect what the CDAR report states..my own business is running almost equal between Equity Sales and Distressed Sales.  The Equity Sales seem to be in the higher end, which means that median number they always throw around should be going up..if other Agents are seeing the same thing I am...

Market recovery has to include rising fair market (equity) transactions as well as sales in ALL price ranges to appear more stable, and that is wehat's happening here in the desert.

714 Existing family homes sold in June from Palm Springs to Coachella, including unincorporated Bermuda Dunes..this would be for Palm Springs, Cat City, Rancho Mirage, La Quinta, Indian Wells, Desert Hot Springs, Palm Desert, Indio and Coachella.  That's only a slight dip from June of 2010 when 747 units sold.  Of the total sales, only 48% were Short Sales or Distressed properties..meaning that 52% were NOT! 

Condos saw a slight decrease in sales in June at 227 over 229 last year, but the median went up meaning the more expensive units are selling.  Of total sales, only 37% were Short Sales or bank-owned..a large 63% were Equity Sales.

It just feels much, much better here in the resort desert that I live and work in...and that's a good thing!