When you put your East Valley home on the market as a short sale it is important that you maintain the home in a presentable way. No one wants to walk into a home and see trash all over the floors and junk on the counters.
No, you do not need to professionally stage your home, [...]
Short sale agent with designations and short sale home conditions
Vets: Be Careful Who You Take Mortgage Advice From
I’ve seen a lot of tips by so-called mortgage industry experts giving Vets advice on how to buy a house. So I’m here to set the record straight.
Tip #1:
The number one tip for a vet buying a house is to use a VA loan. Plain and simple.
Benefits of the VA loan, to name a few:
100% [...]
Short sale agent with designations and short sale home conditions
When you put your East Valley home on the market as a short sale it is important that you maintain the home in a presentable way. No one wants to walk into a home and see trash all over the floors and junk on the counters.
No, you do not need to professionally stage your home, [...]
Fight for clients in short sale approval
Not every short sale is going to close, no matter how good you are. Often times issues like PMI are going to get in the way. But you should be taking the fight to the bank for your client to get the deal done and sellers when interviewing agents make sure you ask them what [...]
Read the full article →But I don’t have PMI?!?!
So you purchased your East Valley home with a 80/20 loan so you would not have PMI. Now you need to sell your home and you find out the PMI company is asking for a cash contribution or a note for $10,000 to be signed. Why is that?
Well it turns out that investors who purchased [...]
Question real estate stats and Fannie Mae is costing us money
National real estate numbers almost mean nothing to your local real estate market, and even local real estate may have more than one market. Dont read to much into numbers they dont always tell the whole story. And what is up with Fannie Mae not allowing more time to work on short sales? This does [...]
Read the full article →Tempe Short Sale: A lot tougher when agent seller don’t have great 2-way communications
Short sales are hard, short sales when the seller and the listing agent don’t have great open communications is even harder. A recent Tempe short sale experience showed that. The home owner did not communicate about some financial circumstances and the agent negotiating (me) was hit from no where by banks negotiator.
Read the full article →When you put your East Valley home on the market as a short sale it is important that you maintain the home in a presentable way. No one wants to walk into a home and see trash all over the floors and junk on the counters.
No, you do not need to professionally stage your home, just make your home inviting to the people viewing it. Make it a home they can see themselves living in and a home that looks like it is enjoyable to own. A home that looks like it was cared for is going to get a much better offer than a home that is trashed. That better offer is going to make it much easier to get your offer approved.
Another subject that gets me fired up is designations. Why is it that almost all designations you need to pay for and then pay the designation company every year to keep using it? This of this, you go to ASU (Go Sun Devils!) get your degree and then every year ASU comes to you and says if you want to say you got an education from us you need to pay us every year (insert student loan joke here.) Also that designation does not mean you know how to do anything, it means you took the class.
The exception may be the SSG or Short Sale Genius designation. With this designation once you have it, you have it. But the kicker is, you actually need to have closed short sales before you can use it. But even then I would not hire an agent just because they have the SSG designation. When interviewing an agent make them explain to you the process the use and ask them questions on how they do things.
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Not every short sale is going to close, no matter how good you are. Often times issues like PMI are going to get in the way. But you should be taking the fight to the bank for your client to get the deal done and sellers when interviewing agents make sure you ask them what they are going to do when the bank says no.
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So you purchased your East Valley home with a 80/20 loan so you would not have PMI. Now you need to sell your home and you find out the PMI company is asking for a cash contribution or a note for $10,000 to be signed. Why is that?
Well it turns out that investors who purchased your mortgage didn’t trust you so they purchased PMI for them. That is all well and good, and allowed, but that PMI company is not allowed to ask you for a contribution. Well they can, but they are not supposed to.
When they do this it is called 3rd party bad faith. The problem, even through you are right it is going to be more expensive to fight it than just pay it. I think this is going to end up leading to a class action law suite.
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National real estate numbers almost mean nothing to your local real estate market, and even local real estate may have more than one market. Dont read to much into numbers they dont always tell the whole story. And what is up with Fannie Mae not allowing more time to work on short sales? This does not cost them money, it cost US money. Either allow time for the deal to be worked on or work on it a lot quicker.
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