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How would you market your home?

Posted by Tim Brown on August 31, 2011 at 12:44pm

If you have been thinking of selling your home, then one of the aspects of selling a home is marketing. You obviously cannot expect to simply throw a For Sale sign in the yard and expect results. I doesn’t work that way. Gone are the days of drive arounds. Sure back in the day a for sale sign in the yard and perhaps a printed flier that you would throw up around the neighborhood may have worked. Heck, even a newspaper ad was worth the money. But now it is completely changed and is not as easy as it may seem. Today, more than ever the utilization of a real estate professional is crucial to a timely sale.

Think about this…Back in the day a real estate agent was able to sell a home by following a tested and true form of selling. Put a sign in the yard, an ad in the newspaper, a flier around the neighborhood and if lucky feature it in a home magazine. With that type of marketing insight back then the formula worked and was effective. An agent was able to focus their attention on closing a sale and less on getting interested buyers to contact them. An agent was perhaps not as necessary then than they are now.

HELLO INTERNET!

Now with today’s buyers a real estate agent has to wear a lot of hats and wear them well. An agent today not only has to be an expert salesman, but also an expert negotiator. They have to be a patient listener and be able to work on the fly. They also have to be marketing gurus and professionals.

When an agent gets a new listing today, the marketing of a home is pretty much the biggest aspect of the initial job. How to get this home in front of as many potential buyers as possible and how to get those potential buyers to call. With technology today an agent must be a internet and web expert as well.

An agent that is marketing a home needs to be on top of many of today’s marketing techniques. This includes facebook, twitter, linkedin, youtube, personal website, fliers, brochures, listing cards, QR codes, presentations, signs, listing syndication, online ad sites, blog posting, video tours, and the list can go on and on.

The truth is, as a seller looking to get their home sold you are way better off with a fantastic agent rather than having to become a marketing expert yourself. An agent lives that lifestyle and has the resources and experience to get it done quickly and efficiently.

In today’s market it is imperative to get your home out there and to as many buyers as possible and in the shortest amount of time.

Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
TeamHeidi
Direct Line: 704-619-1008
Client Care Line: 704-815-3208
www.CarolinaHomes4Sale.com

I Want to Short Sale My Sunnyvale Home, Now What?

Posted by Marcy Moyer on August 31, 2011 at 11:13am

If you find yourself in the position of having to sell your home and it is not worth as much as you owe, you may be wondering what you should do. I am assuming here that you have either been turned down for a loan modification or have to move because of divorce, job transfer, or other circumstance.

So you have to sell. Here is what you should do.

FIND A REALTOR

1. You can not do this on your own. The banks will want the home to be extensively marketed and you can not do that as a FSBO. Since the lender will pay the real estate commissions that should not be a concern.

2. Gather your financial information. You will need 2 years tax returns, 2 months bank statements form all accounts, 2 months statements from all investment accounts, profit and loss for 2 years from any self employment.

3. Fill out a financial statement which shows all your income and expenses

4. Write a hardship letter which explains why you need to do a short sale

5. Make your home available for showings and open houses

6. Keep your financials updated every month and give the bank everything they ask for

7. Accept the best offer you can get on the property

8. Be PATIENT

If you have any questions about short sales in San Mateo or Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales

That is good news> Bryan Rockwell

Posted by Bryan Rockwell on August 31, 2011 at 7:40am

That is good news>

Bryan Rockwell

Fannie Mae Short Sale Desk Available in CA

Posted by Gail Mitkoff on August 29, 2011 at 3:53pm

Good news...the Short Sale Assistance Desk is available in CA and is offered through the following MLSs: MLSListings, Inc., Southland Regional MLS (CRISNet), Pasadena Foothills, and coming soon to SoCAL, Burbank, Ventura, Conejo Simi, and others to be announced soon. Stay tuned.

Who determines the value of a Short Sale?

Posted by latika archuleta on August 28, 2011 at 3:51pm

Valuation of the short sale is one of the most important parts of the transaction. Of course when I am the lisitng agent, I complete my own BPO, submitt my findings to the bank to justify my MLS price and then request a formal BPO.

I am also an REO broker and it amazes me how the banks fight over values preforecosure and spend thousands post foreclosure!

I am happy to receive the REO listings that I get, however in monay cases a Short Sale is more economical and better for home owners and communites they are in.

As I tell my buyer clients, the listing agent can stick any price on the property they desire, however the bank decides wether or not they will take it. A saving grace is the when the buyer gets their appraisal completed, this will tell it all, and I have had appraisals come in higher than our contract and I have had them come in lower. In the case of the lower appraisal, especially if the buyer is going FHA, I have had success with the bank accepting the appraised value.

Unfortunately I have had the bank foreclosue on my listing when they want a higher value, only to come back on the market as an REO and a list price thousands to the tens of thousands LESS than my origianl list... so who knows!! You just have to present your case and supporting documents and hope they take it!

Thanks for reading!

In Need of A Good US Bank Short Sale Negotiator Contact

Posted by Mellyora Hargo on August 28, 2011 at 7:30am

Hello All. I have read that some agents had good negotiators on their US Bank transactions. I believe that the SS packages are either sent to Kentucky or Ohio to be serviced. My current negotiator is out of Ohio. I need a referral for a good one that is out of Ohio. The one I have currently wanted me to counter the buyer at $100,000 over FMV, he won't give me any updates on the file, and won't order a BPO/Appraisal. His name is Steve B. (No NOD filed yet, NO Hafa, No fannie/freddie).

Does anyone have a good lead so I can request a different negotiator?

East Palo Alto Short Sales: Watch Out For Rental Restricitions

Posted by Marcy Moyer on August 27, 2011 at 10:25am

East Palo Alto short sale

There is another conflict brewing between investors and first time home-buyers, and this time the home buyers may win. In the more affordable areas of the Silicon Valley distressed properties, ie short sales and reos have been popular with investors and first time buyers. Many would be owner occupiers lose out on great opportunities to investors who have all cash. Since condos are the least expensive properties, have the fewest maintenance issue, and tend to bring in more rent per dollar spent they are popular with investors. Coupled with the more restrictive lending practices on condos, many bay area developments are now in a position where the number of owner occupied units has fallen to a critical level. Owners of these properties are having trouble refinancing and buyers trying to get loans are being rejected by the lenders. As a result, many complexes are starting to pass new HOA regulations limiting the number of rentals allowed in the condo development.

These restrictions can be a double edged sword. If they occur in a building where the delinquency rate on the HOA dues is too high then a buyer will not be able to get a loan anyway and it will effectively cut off all sales. In the future when the market has settled down the rental restriction could put a damper on future sales. However, if they are not instituted it may become impossible for anyone but investors to purchase in some condo complexes, which in itself will lower values not to mention make things harder for the first time home buyer. It will also make it impossible for current homeowners to ever refinance in some of these buildings.

I do not have the answer here as to what is right or wrong here. I can only give some advise on what to do if you want to purchase or sell a condo and want to get the information about potential rental restrictions.

1. Ask your agent to find out if the HOA docs are available yet. If it is an reo they most likely will not be and a

short sale very likely not

2. If the docs are not available before you make an offer ask your agent to ask the listing agent for the number of the HOA management company

3. Call the management company and ask about any current or contemplated rental restrictions

It is not that hard to find out and can save a lot of time and possibly money.

If you have any questions about short sales in San Mateo or Santa Clara Counties please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www .marcymoyer .com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

iProperty – Apple to build custom homes! – JUST KIDDING

Posted by Tim Brown on August 26, 2011 at 8:28am

Wouldn’t that be interesting if they were to do just that? The fact that Apple is one of the biggest companies in the world today with market dominance in almost everything they do and everything they put out. They have single handedly dominated the digital music industry, smart phone industry and tablet industry. With that kind of success rate and the quality of their products, I started thinking about them building custom homes.

What would an iProperty look like? Perhaps the home would look the same as every other home and it would be the inside of the house that has all the neat stuff. Perhaps some special built in apps for the home specifically. Perhaps an app that can be viewed via a wall display that tells everything going on with the house. From which lights are on to which doors are locked and not locked. Of course there would be a button to go ahead and lock the other doors if you like. What else? The display would have the temperature of every room and the monthly cost perhaps. That way you can better regulate each rooms electrical and cooling costs and cut down on usage in rooms where there is not much activity.

Then of course you would have total integration with all your other apple products as well. That display of your home would also be available on your ipad and iphone for mobile management. You would have access to all the built in standard cameras that will monitor your home with night vision and heat sensitive modes. Then with that idea you have that available on your mobile devices and can even send right to youtube if you like.

Then there would be cool things like turning on your fireplace from your phone or tablet, managing your home music speakers in the whole house from your device or wall display. You could turn the Jacuzzi on by using finger gestures on the app as well.

What apps would you like to see in an iProperty? What would be some of the cool things that you would like to be able to manage household wise with your mobile device? Do you think they could dominate that market as well?

Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
TeamHeidi
Direct Line: 704-619-1008
Client Care Line: 704-815-3208
www.CarolinaHomes4Sale.com

Short Sale Homes-Thinking About

Posted by Ann Johnson on August 25, 2011 at 9:18pm

In today’s unstable economic situation, many families are finding themselves in trouble. The home that was once a family’s cradle of love has now become a financial problem. Homeowners avoid the hassles of foreclosures and start to search for details on short sale homes.

What is the difference between a short sale home and a foreclosed home? Based on Wikipedia, a Short Sale occurs when the lender allows a property to be sold for less than the amount owed on a mortgage and takes a loss. This usually occurs when the market drops and the property is worth less than what the current mortgage is. While Foreclosures is a legal process by which a lender obtains a termination of a mortgagor’s equitable right of redemption, either by court or by operation of law.

There are reasons to avoid foreclosures. There are factors that come into play in neighbourhoods affected by foreclosures. These factors could be things such as lowered property values, increase incidence of financial scams, youth stress and instability, and increase crime rates. However, there are steps to take when thinking of engaging in short sales.

In engaging in short sales, you need to learn about loan modifications. The process of foreclosures and short sales can be costly to lenders. Explain your situations to lenders. See what your options may be that could allow you to remain in your home.

When thinking about short sales, always consult with the experts. Your real estate attorney can ensure that you aren’t taken advantage during the short sale process. The experts could provide you with the comparative market analysis, help you set appropriate listing price for your home, and help you get it sold.

Help your self and your prospective buyers for a selling process. Lender’s approval can take weeks or months. Still in trouble on how you can make use of your home? The short sale is not the only solution to your problems. If you have issues about payments, make sure to speak to a licensed real estate professional.

Looking for short sales in Phoenix? You may visit the website Phoenix Arizona Short Sales for a variety of short sale homes options. Happy Hunting!

Is Foreclosure Still a Dirty Word?

Posted by Tim Brown on August 23, 2011 at 12:18pm

If you or someone you know is facing foreclosure there are some things that you should be aware of. Firstly foreclosure should not be considered an easy way out because by no means it is not. These days a lot of people honestly cannot afford the homes they are in for one reason or another. What strikes me as odd is that years ago the word Foreclosure was a bad word. Something to be shunned and not really discussed, much like bankruptcy used to be. Now though it almost seems that more and more people are becoming comfortable with the idea and almost accept it as a part of the process.

The truth is that foreclosure is not a requirement for individuals that are struggling with payments. Those that recognize the issues and act upon them early on can stop foreclosure and perhaps even save their home. The main option in this idea is to explore a Shortsale. A shortsale mainly consists of the bank in which the loan is from allows the owner to sell the property for less than what is owed on the loan. The difference between the sale amount and what is owed is called deficiency. Sometimes this deficiency can be forgiven and sometimes it cannot. It really depends on the situation and the bank. However, a Shortsale is a better option than a foreclosure.

If you are facing foreclosure here are some things to keep in mind. A foreclosure dramatically affects your credit…period. This is definitely a scar on your credit report and often with be stuck there with you for at least 7 years. Your credit cards may be cancelled as well at anytime and without warning. Your job may be affected as well if you are employed in a field that requires security clearance and a good credit score. If you are not employed then a foreclosure can also be a factor in preventing you from getting a job. More and more employers are using background and credit checks to screen possible employees. Securing new or additional credit will be exceedingly difficult and interest rates will be extremely high for a while.

This is not to scare people, but to rather ask those in this situation to act early and appropriately. If you know you are at risk, start asking questions. Believe it or not, your Realtor is often familiar with this type of situation and some Realtors are experts. They can point you in the right direction and advise you on which route you should take. It is important to be educated on your options and not sit idly by while the train gets closer and closer. You may be able to stop the train or at least change tracks.

Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
TeamHeidi
Direct Line: 704-619-1008
Client Care Line: 704-815-3208
www.CarolinaHomes4Sale.com

Past Due Silicon Valley HELOCs Can Be Sent To Collection Agencies

Posted by Marcy Moyer on August 23, 2011 at 5:02am

If you are an owner of a home with a second loan that is a Home Equity Line and you are having trouble paying your mortgage you should do something about it right away. I know you have probably heard that banks are taking up to 2 years to foreclose so you have plenty of time, but there is a dirty little secret in the mortgage world. HELOCs are not entirely like traditional mortgages, they are more like credit cards. If you do not pay your first mortgage your lender needs to find a way to collect the money or take your home back. However, with a HELOC the lender can turn the account over to a collection agency, get some money for it right away, and you are left to deal with the debt collector.

This can become a potential problem if you decide that your best option is a short sale. If you decide to sell your home as a short sale it is often easier to negotiate the payoff to the second if it is still owned by the bank, rather than the collection agency. The bank sold to a collection agency for pennies on the dollar, and would be more likely to let you go for the amount that the first lender offers. By the time it goes to collection that entity had invested money and will expect to make a profit by getting a settlement larger than what they paid. If you cut out the middleman (in this case the collection agency) it should be cheaper.

So, if you can not pay your mortgage, don't just stand there, DO SOMETHING. Whether is is going for a loan modification, refinance, or short sale, get started earlier rather than later. It will be less stressful in the long run, and generally much less complicated.

If you have any questions about short sales in the Silicon Valley please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

What documents and paperwork do I need to do a short sale?

Posted by Dan Rochon on August 22, 2011 at 3:18pm

When doing a short sale, you will need to obtain many documents to be submitted to the lender. The paperwork that you will need includes:

Most recent mortgage statements
Two months of checking account statements
Two months of savings account statements
Two months of other bank accounts statements
Last two pay statements
Last two years tax return statements
Hardship letter
Financial statement

Your short sale specialist should guide you through this process of completing and obtaining this paperwork.

FHA insured Wells Fargo short sale; Wells not following HUD rules!

Posted by Susan Meehan on August 22, 2011 at 9:18am

The seller had an offer which was submitted to Wells Fargo in April. The property appraised at $70,000 in May. Wells Fargo sent the seller an Approval to Participate form dated May 26 which stated that he must list the property for $70,000 (HUD guidelines state he should list at 88% of that). The offer he had in hand was for $54,000, and Wells already had that offer, too, but the next step was waiting for 1 1/2 months until finally receiving Wells Fargo's response to the offer ... and rather than countering with 88%, Wells Fargo countered with $70,000.

The buyer responded to the full-price counter with an increased offer of $56,000. Meanwhile, the seller's realtor provided the Wells Fargo negotiator with documentation demonstrating that appraisal was $10,000 over what could be realistically expected, based on recent distressed comparable sales and finding no recent non-distressed sales which are comparable. Neither the seller nor the seller's realtor has been provided with copies of Wells Fargo's appraisal or comparables used for the property.

Wells Fargo denied the second offer without countering.

The seller's realtor contacted the Wells Fargo negotiator to ask why there was no further counter, and was told the file had already been re-assigned to someone else, because the second offer was considered to be 'final and best', although no such guidance had been received from the negotiator. He instructed the realtor that she should not attempt to contact Wells Fargo for a week, because of the file being transitioned to another negotiator.

Within one week, the realtor secured a third offer from the same potential buyer, for $59,500, and contacted the new Wells Fargo negotiator, who advised her that the file was being re-assigned for a third time, and she would not hear from the new negotiator for a week and a half, because that's how long it takes to transfer files to new negotiators!

On August 19, the third Wells Fargo negotiator countered the third offer from the same potential buyer with ... (wait for it...)$70,000 -- original appraised price. It is now at the point in HUD's timeline when Wells Fargo should be seeking $58,800, or 84% of the appraised value. The negotiator claims that Wells must net $70,000. It is hard to understand whether these negotiators do not understand HUD guidelines .. or are they under instruction to drive properties to the 'deed in lieu of' at end of 120 days because that's where their max profit is?? How can the bank collect on this FHA insured loan when they don't comply with the rules of the program?

What gives??

I know you'll ask -- I'm the buyer who is not going to offer more. The condo will definitely foreclose, because the realtor tells me we are the only nibble they've had since listing in December, although they kept the listing open for back-up offers.

Ginnie Mae USDA Short Sale Approved - Fort Walton Beach Florida

Posted by Wendy Rulnick on August 19, 2011 at 11:30am

Bank America has approved this Fort Walton Beach Florida home for a Ginnie Mae USDA short sale. It was a lengthy process. Bank of America only recently added Ginnie Mae short sales to its Equator processing platform. This file was handled through emails and phone calls directly with a Bank of America Ginnie Mae specialist.

What is Ginnie Mae? Ginnie Mae is a governmenty entity that guarantees VA, HUD and USDA Rural Housing Services mortgages. This makes these loans more valuable as investments when sold to the secondary market, thus more attractive to mortgage servicers, such as Bank of America.

What about the deficiency on a USDA short sale? The deficiency is the amount of the note not covered by net proceeds of the sale. According to USDA Ginnie Mae short sales guidelines:

A borrower who successfully sells the property securing the loan using the PFS option is relieved of the mortgage obligation. The borrower shall not be pursued for deficiency judgments by either the Servicer or the Agency

One caveat about Ginnie Mae USDA short sales - you will not be approved unless you miss at least one payment. This is not true with many other short sales programs.

If you are considering short sale to avoid foreclosure of your Fort Walton Beach home, contact Wendy Rulnick, Broker. You may qualify for USDA, Ginnie Mae, VA, FHA, HAFA or another short sale program.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Fort Walton Beach Florida Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy's Fort Walton Beach Real Estate Blog

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

Finally had a good negotiator from Bank of America

Posted by Elvira Quiray on August 19, 2011 at 10:54am

This guy is one outstanding negotiator. I submitted the short sale file in May and got an approval from Bank of America Heloc in July, and an approval from Bank of America also as first lienholder this August. Mr. Rodney Phillips, the first lien holder negotiator, is very professional and prompt in his responses. I wish they were all like him.

Is Luxury just another word for expensive?

Posted by Tim Brown on August 19, 2011 at 10:07am

If you are an active buyer or even a new buyer just getting started with the home shopping experience then you have sure run into the term Luxury Homes. But what really is a Luxury Home? What does it consist of? Is the flooring better? Is the paint job better? What about the lawn and landscaping?

Well, sometimes yes and sometimes no. In today’s real estate atmosphere a home once considered to be a luxury home may well sell for hundreds of thousands of dollars less than what was initially paid for it. So does that reduction in price remove it from Luxury home status? I don’t think so.

So what exactly is a luxury home then? I don’t think that luxury necessarily means it has to be expensive or a mansion either. I think that even a home with a modest floor plan and average size lot can in fact be considered a luxury home.

I think a lot of it comes down to the amenities. Does the home have a nice size master bedroom and master bath? What about the countertops in the kitchen? Are the appliances up to date? Is there a garage for actual parking of a car? Is there an office/den space or a bonus room of some kind. Is there a nice dining space and living spaces present? What about outside? Is there a nice patio or finished deck? Is the lawn well maintained? I think that even an average home priced competitively can be in some ways considered a “Luxury Home”. I think that if a home is well maintained with updated countertops and flooring, a fresh layout with color and style and internal systems that are updated, then I think it is very possible for a average home to be considered a Luxury home for some people.

Now i know that things like square footage and of course the neighborhood and location plays a major role in this process as well, as neighborhood status helps to determines value and reputation of the area. But in a general sense, I think luxury home is in a lot of ways in the eye of the beholder.

Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
TeamHeidi
Direct Line: 704-619-1008
Client Care Line: 704-815-3208
www.CarolinaHomes4Sale.com

Lawyers Accused of Scam....

Posted by Bryant Tutas on August 19, 2011 at 8:35am

From The Florida Association of Realtor(R)s newsletter today:

AP: Lawyers accused of scam in bank suits COSTA MESA, Calif. – Aug. 19, 2011 – California prosecutors sued several lawyers and call center operators for allegedly duping desperate homeowners across the country into paying thousands of dollars to join dubious lawsuits against big banks.

The complaint unsealed Thursday in Los Angeles County Superior Court accuses prominent foreclosure attorneys Philip Kramer and Mitchell Stein and at least 17 other individuals and businesses of ensnaring borrowers in a scheme that falsely promised a cut of future settlements.

READ THE REST OF THE ARTICLE

Lender Won't Sell to an LLC

Posted by Bill Travis on August 18, 2011 at 11:15am

I represent the Buyer. The lender PNC/Chase just responded to our offer with the fact that they will not sell to my buyer's LLC. They will only sell to an individual.

My buyer is a Canadian and the U.S. LLC has his wife and 2 children as Members. The purpose of the LLC in addition to the liability protection is to avoid tax consequences.

If they buy as an individual, and 3 months down the road Quit Claim to the LLC, the IRS may view it as a sale and the title company could be required to collect 10% taxes. They're trying talk to a tax accountant as we speak, and we have to respond by noon Friday.

Has anyone run across this, and if so have you had any luck in getting around it?

Thanks,

Bill

Why Are They Foreclosing When You Have a Short Sale Contract?

Posted by Wendy Rulnick on August 18, 2011 at 8:00am

One of my short sale sellers called me confused the other day. We had his Santa Rosa Beach Florida home under contract as a short sale. The mortgage holder, Bank of America, had approved the sale recently, and we were moving toward closing.

"Why is Bank of America still sending me letters threatening foreclosure of my Santa Rosa Beach home?" he asked, "They've approved the short sale!"

Why would they? I emailed Bank of America to get their official response. Here is what they said:

"If the loan is delinquent and has entered the foreclosure process it continues, if a sale date occurs while we are working on the short sale we can request postponement from the investor but there is no guarantee of approval. "

What does this mean? "Sale date" means foreclosure sale date. Bank of America says they don't stop the foreclosure process automatically if a short sale is approved. Well, why not? Here is why: What if the buyer's loan is denied? What if the buyer doesn't close? What if the seller changes his mind? There are a lot of reasons why a short sale, or any property, might not close. If Bank of America stopped their foreclosure process for every instance of short sale approval (or even short sale contract), they would surely lose time waiting for a sale that might never happen.

What is the upside of Bank of America and their investor's policy? They normally will postpone a foreclosure sale within a few days of short sale closing, but not always.

What should you, as a Santa Rosa Beach Florida homeowner, do when you are facing foreclosure? There are many options available. You can ask your lender for a loan modification, forbearance or a repayment plan. If that is not possible, and you cannot keep your home, there are different types of short sales available, for example: HAFA, FHA Preforeclosure, Bank of America Co-Op, VA Compromise Sale and many more. Be sure to consult with a Florida real estate attorney and hire a Santa Rosa Beach short sale agent. You may be able to avoid foreclosure, and rebuild your financial position and your life more quickly than you think.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Santa Rosa Beach Florida Real Estate

Santa Rosa Beach Short Sales & Pre Foreclosure Help.

Read Wendy's Santa Rosa Beach Real Estate Blog

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

What is the short sale process?

Posted by Dan Rochon on August 18, 2011 at 5:20am

About the Process for a Short Sale Buyer

If you are thinking about writing an offer on a short sale, you must BE PREPARED FOR A LONG JOURNEY. Many of our buyers are willing to wait several months to get a decision on a short sale, but few are willing to wait months to find out that the answer is, "No". You can get a good home with a short sale, but you are likely not going to get the deal of the century. In fact banks that approve short sales are diligent about selling the property for its market value and they are likely not going to sell it for below what they feel that it is worth.

If you find yourself in the position of having to sell your home and it is not worth as much as you owe, you may be wondering what you should do. I am assuming here that you have either been turned down for a loan modification or have to move because of divorce, job transfer, or other circumstance.

Note: this page contains paid content.

Note: this page contains paid content.

Note: this page contains paid content.