short sale

HAMP, HAFA, Chase and other time wasters

November 6, 2010 By Dean Ouellette Leave a Comment

What is the most frustrating thing you are seeing in the real estate industry right now? Without a doubt it is banks and government programs like HAMP and HAFA wasting our time, our buyers and our sellers time.

The Government pretends these programs are going to work. What have we seen? Time after time these programs fail and just frustrate and delay the process for everyone involved. There are banks like Chase and others who refuse to be reasonable and say they have these standard and cannot negotiate items, yet we know they do. They make us waste time and negotiate to the investor to get the deals done.

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Filed Under: Video Tagged With: chase short sales, HAFA, hamp, short sale

Short sale agent with designations and short sale home conditions

September 2, 2010 By Dean Ouellette 1 Comment

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.

Filed Under: blog, Video Tagged With: Dean Ouellette, east valley short sales, short sale, short sales agent

How to effect the BPO on your short sale

July 22, 2010 By Dean Ouellette Leave a Comment

Many short sales get declined because a BPO comes in bad. But that did not have to be the case. You can do things to effect the BPO. Watch this and see how I try to get the BPO to come in, not what I want, but what it should be.

Filed Under: blog, Video Tagged With: BPO, short sale

Who should negotiate my short sale?

May 11, 2010 By Dean Ouellette Leave a Comment

Who should negotiate the short sale, the agent or a 3rd party?

I have been involved with a few transactions where the seller used 3rd parties to do the negotiations on a short sale. While the success rate of 3rd party negotiator can be good, the time frame in which they get them done can be downright painful. If you are looking to sell your house in the East Valley I would advice picking an agent or team that will give your file the attention it needs.

If you have any other questions you can leave a comment below or email Dean Ouellette.

Filed Under: blog, Video Tagged With: 3rd party negotiators, short sale

Top 10 real estate posts of the day for 3/8/2010

March 8, 2010 By Dean Ouellette 2 Comments

Here is today’s list of top real estate posts of the day.

1) REDC Auction: Scam or the Real Deal? – There are different types of auctions for houses, there is the type where you go to the courthouse step and bid on the foreclosures and then there are the auctions like Hudson &Marshall or REDC where you can bid on a property that has been on the market a while. The advantage to the second is you can visit the house before hand and you can use financing, but don’t think you can steal it with a low ball offer.

2) Rants and Raves ! WHERE DO THESE MIAMI PRICES COME FROM? – One of my favorite subjects, why do we still price houses like it is 1992 and people are still looking at pictures in a MLS book. How we shop for houses has changes, so should the way we price them.

3) Is a Short Sale Free? Will it Cost Me Anything? – This is a common question I get too, what will a short sale cost me as a seller? The answer should be not much if anything at all. Although I would add into this equation the cost of getting legal advice.

4) Why Never Taking ‘No’ For an Answer Will Make You Wealthy – This is a great post that is relevant to investors, agents or anyone in life. If you refuse to take no for an answer it will get you thinking out of the box.

5) The Challenge of Being an FHA Home Buyer in a Seller’s Market – Condos, single-family homes, both have different challenges, but both do have challenges with FHA loans in today’s market.

6) Real Estate Agency, and Why I Can’t Help You – If you are working with another real estate agent, sometimes we just need to do the ethical thing and say sorry, we cannot help you.

7) Is Homebuyers’ Negotiation Power on the Rise? – The average price a house sold for 97.3% of the last list price in January.

8) The Difference Between a Blog and a Website – Do you know what the difference between a real estate blog and a real estate website is? Not much.

9) Consumers Are Not Getting Enough Credit in Today’s Market – Access to credit, HVCC, all things that are helping keep the market down.

10) Two Things: Agents and Listings – Great story for Brokers looking to expand, there are only two things to concentrate on. And for agents, take this information to your business. What are the two things that are money making activates, concentrate on them.

Filed Under: blog, Top Posts Tagged With: agency, FHA, HVCC, Pricing, Real Estate Technology, REDC Auction, short sale

Phoenix real estate FAQ from March 5, 2010

March 6, 2010 By Dean Ouellette 3 Comments

Kristin LaVanway joins me as we answer your real estate questions straight from the trenches of the Phoenix real estate market….in only 30 seconds. Today we answer:

Should you require a deposit on a short sale?
Can the bank dictate terms in a short sale contract?
Should agents rebate commission?
Can I sell my house for a higher price if it is not a bank owned or short sale?

Great job behind the camera, Sasha Lopez!

This week we answer the questions:.

Should you require a deposit on a short sale?
Can the bank dictate terms in a short sale contract?
Should agents rebate commission?
Can I sell my house for a higher price if it is not a bank owned or short sale?

Next week we want to answer your questions, leave a comment below with questions you want addressed

Filed Under: blog, Video Tagged With: commission, commission rebate, earnest deposit, short sale, short sale agents, short sale bank

Is there a tax liability if my house goes to foreclure or I sell via a short sale?

January 13, 2010 By Dean Ouellette 2 Comments

Video 77: If you allow your house to go to foreclosure or chose to sell via a short sale will there be any taxes you need to pay? Kevin Hardin of Thomson Conant Law Office in Phoenix answers that question for us. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.

Filed Under: blog, Video Tagged With: 1099c, Foreclosure, short sale, tax liability

If that Craigslist rental sounds to good to be true…. you know the rest

January 12, 2010 By Dean Ouellette 2 Comments

Video 75: I have a short sale listing that seems to have found it’s way into the center of a scam on Craigslist. Someone found the owners name in the tax records, created a yahoo e-mail address with it and posted the property on Craigslist as a rental. A cheap rental too. The house would normally rent for between $1000-$1100 a month, but was listed for only $700. Everyone together now… if it sounds to good to be true…. The person who created the ad said they were out of country for a while and needed to rent it. Anyone who is asked to send money out of country should obviously know right away it is more than likely a scam. Two people who saw my short sale listing today contacted me, so they were smart enough to figure it out. Watch out for scams on Craigslist. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.

Filed Under: blog, Video Tagged With: Craigslist, Scams, short sale

Should I hire a professional short sale company to do my negotiations?

January 5, 2010 By Dean Ouellette Leave a Comment

Video 71: Today I am talking about a short sale listing where the buyers and I agreed to try to use a “professional negotiating company” to negotiate the short sale listing. Lesson learned quickly, they may do an ok job of getting files approved eventually, but to them you are just a number, just a file in a large stack of files. Make sure your agent or your agents team is doing the negotiations for you. If they do not have any experience doing short sales, then maybe they should refer the listing out unless you are willing to let them get short sale experience with your listing. So if you are looking to do a short sale in Tempe, Scottsdale or the surrounding area, make sure you know someone who cares about getting the file done is doing the negotiations. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.

Filed Under: blog, Video Tagged With: short sale, short sale agent, short sale negotiations

Should I walk away from my house if I am underwater?

December 1, 2009 By Dean Ouellette Leave a Comment

Video 53: Should I walk away from my mortgage if I am underwater? I would never advise anyone to do that, but I think it makes sense for some to consider walking away. I would love to hear your thoughts or any suggestions for future videos you have, you can leave a comment or e-mail me Dean Ouellette.

Filed Under: blog, Video Tagged With: Foreclosure, house underwater, negative equity, short sale, walk away from house