In this week’s episode of Phoenix Real Estate FAQ Short Sales FAQ" href="http://deansellsaz.com/short-sale-faq/">Dean Ouellette and Kristin LaVanway answer the following questions:
* Is it a good time to buy a house?
* Do I need a home inspection if I am buying As-Is?
* Can my Realtor give me the lockbox codes so I can check out a house?
* Why do short sales take so long?
Thanks, Sasha (Speilberg) Lopez doing her part and keeping us on track and keeping us laughing.
Send us your questions…we’d love to hear from you…
1) Mortgage rates are gonna rise – We have been hearing it for a while now, it is coming. One thing I think everyone agrees on, they are not going to be falling by any measurable degree.
2) Virtual REBarCamp is today – I am not going to be around much today unfortunately, or this is where I would be at!
3) Listings on Facebook – I am not really a fan of listings on Facebook, but if you want them on a fan page I get it. If you do decide you want them, this is a cool app! If you are really trying to do real estate on Facebook and you have not contacted Mike Mueller yet, what are you waiting for?
Video 41: If you purchased a home in the Tempe or Phoenix area in the last five years and you want to sell it now there is a good chance that Tempe home will need a short sale. There are so many people interested in selling their home as a short sale and many buyers are getting frustrated with the REO foreclosure market they are turning to short sales too. So I am starting a series on short sales, the first installment is what is a short sale? A short sale is when the lender agrees to allow you to sell a house for less than the mortgage amount. I would love to hear your thoughts or any questions you may have about short sales, you can leave a comment or e-mail me Dean Ouellette.
3) Top 40 real estate resources and sites – While all of these sites may not like real estate related sites, if you are a real estate agent into blogging and technology they are all sites you want sitting in your RSS feeds.
4) What’s all the hype about “short-sales”? – This video explains what a short sale is, while I do not agree with everything he says, I do agree that designations for short sales are pure bs and a way for people to profit from the latest trend. The thing I really disagree with is I believe Matt sounds like he may be to quick to believe banks. They do not want to send it to foreclosure and are using the threat of doing so as a negotiating tool more often than not.
6) Google made a big real estate move today – Listings can now be viewed in Google Maps. No, I do not think this is the end of the world as we know it like some do, I think its another great service from a company that “gets it.”
7) 5 ways Twitter jump-started my business – I think he really nails down one of the best features of Twitter and doesn’t even realize it. Twitter is an amazing tool for learning and expanding your knowledge on any topic you may be interested in.
9) The FHA 90-day seasoning rule – Recent changes in the seasoning rule have been very confusing and few people really understand them, here is a great resource that explains it the best I have seen yet.
You have tried the loan modification process and have had very little luck so now you have decided that your best option is a short sale. While a short sale may not be the best option for everyone, if you are going to do it, do it right.
A short sale in Arizona is different than [...]
1) Homebuyer tax credit to be extended? Expanded? – This should have been on yesterday’s list, but I somehow overlooked it. Jay does a great job as usual of looking at the latest behind the first time homebuyer tax credit and what’s next.
2) Why are banks ignoring short sales to death – Dave is [...]
So you talked to a Realtor, your financial adviser and a real estate attorney and you decided that a short sale was your best option. So now what are the first steps you will need to take to prepare for your upcoming adventure, and an adventure it will be.
After you talk to your real [...]
The main reason I have seen that only 23% of short sales fall through before closing is because buyers get fed up with how long it is taking and walk away. While it is no guarantee, there are questions you can ask before buying a short sale that will tell you how prepared the [...]
I have made a point of it recently to read as much as I can and become educated on the short sale process. I have spent hours of time reading websites and talking to agents who have been involved on the listing side of short sales and have decided to get involved myself.
One of [...]
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