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    • Short Sales




      Short Sales and 1031 Exchanges
      Can a Tax Deferred Exchange Be Structured? I'm often asked if a real estate investor who is going through a short sale can also structure a tax-deferred exchange in conjunction with the short sale in order to defer the payment of the capital gain taxes that will result from the short sale.  It's really a great question because most real estate investors do not realize that a short sale or a t

      Written by: Loan Modifications Made Simple


      Santa Ana, CA Short Sale - Orange County Short Sales
      215 N Main St Santa Ana, CA 92701Price: $449,000 (subject to change)Live Work Loft 2236 sqft built in 2003Property Description:Welcome to this model home in Santa Ana's Tranquil Artist Village. This home boasts over 2,200sqft of living space, high vaulted ceilings, open kitchen with newer stainless steel appliances, newer custom paint, custom window coverings, elegant distinct draperies, walk-in c

      Written by: Orange County Real Estate


      Mission Viejo, CA Short Sale - Orange County Short Sales
      27691 Torija Mission Viejo, CA 92691Price: $575,000 (subject to change)Property Description:Take a nice drive by Mission Viejo Lake as you head home to your one level cul-de-sac beauty. Pull up into your driveway, admire your oversized front yard, then go inside through your 2 car attached garage with ample storage space. There you will find your family room with a cozy fireplace and side access t

      Written by: Orange County Real Estate


      Orange, CA Short Sale - SFR - Orange County, CA Short Sales
      220 S Firenza Way, Orange, CAPrice: 575,000 (subject to change)3 bedroom, 2.5 bathrooms, 1600 sqftProperty Description:Welcome to your new home located in beautiful Santiago Hills where you enter through the custom landscape and tranquil fountain. This home boast over 1,600sqft of living space which includes, vaulted ceilings, upgraded tile, custom entertainment center, granite counter tops in the

      Written by: Orange County Real Estate


      San Diego Short Sales Gumming up the Works
       San Diego Real Estate Blog The Short Sales in San Diego County are really gumming up the works. We are working with many San Diego Home Buyers and the short sales, quite frankly can really confuse buyers buying a home or condo in San Diego. I say this because most home buyers that really want to [...]

      Written by: San Diego Real Estate Blog


      Chula Vista Short Sales in 91915 Report July 2008
      San Diego Real Estate Blog Zip Code of 91915 of Chula Vista includes EastLake, Windingwalk and Otay Ranch. July 2008 shows 216 single family detached homes – this does not include condos or town homes – that are for sale in the MLS marked Subject to Court or Lender Approval. Although some of these homes might [...]

      Written by: San Diego Real Estate Blog


      Chula Vista Short Sales in 91914 Report July 2008
      San Diego Real Estate Blog In the Zip Code of 91914 of Chula Vista in July 2008 shows 119 single family detached homes – this does not include condos or town homes – that are for sale in the MLS marked Subject to Court or Lender Approval. Although some of these homes might be marked for [...]

      Written by: San Diego Real Estate Blog


      Chula Vista Short Sales in 91913 Report July 2008
       San Diego Real Estate Blog Chula Vista 91913 Zip Code in July 2008 shows 291 single family detached homes – this does not include condos or town homes – that are for sale in the MLS marked Subject to Court or Lender Approval. Although some of these homes might be marked for court approval purposes the [...]

      Written by: San Diego Real Estate Blog


      Chula Vista Short Sales in 91911 Report July 2008
       San Diego Real Estate Blog Chula Vista 91911 in July 2008 shows 210 single family detached homes – no condos or town homes – that are for sale in the MLS marked Subject to Court or Lender Approval. Although some of these homes might be marked for court approval purposes the vast majority of these are [...]

      Written by: San Diego Real Estate Blog


      Chula Vista Short Sales in 91910 Report July 2008
       San Diego Real Estate Blog Chula Vista Short Sales in 91910 Report July 2008 July 2008 Chula Vista 91910 shows 189 single family detached homes – no condos or town homes – that are for sale in the MLS marked Subject to Court or Lender Approval. Although some of these homes might be marked for court approval [...]

      Written by: San Diego Real Estate Blog


      Short sales not that easy
      For those who think that short sales are easy -- when banks accept less than the full amount owed on a mortgage to avoid foreclosure -- L.A. Times writer Diane Wedner offers up some cautions, including great patience with the banks for a response:RESIDENTIAL short sales sound like a picnic: Owners need to sell their homes for less than they owe, lenders forgive the difference and buyers grab a goo

      Written by: Housing Chronicles


      Oh The Wonderful World of Short Sales
      Short Sales is one of the most popular terms in real estate today. What is a short sale? – It is the obtaining a property for a smaller amount than what is owed on it from the lender. Because of recently declining prices in homes, banks and lending institutions are making more deals than they have [...]

      Written by: GuReview REI Blog


      ORANGE COUNTY SHORT SALES -did you make an offer?
      Mike Pahua is your Orange County Short Sale Realtor. If you want to purchase a home that is a short sale then you need to speak with an agent who understands how they work and how to negotiate your offer for you. Call Mike Pahua at 949-309-2400 ext 5 Have you made an offer a short sale lately?Did you wait around for weeks only to hear nothing?Did the price seem too good to be true?SOME AGENTS DO

      Written by: Orange County Real Estate


      Loss Mitigation: Short Sales: Nothing Short about the Approval Process.
      With the current housing mess people think that banks would be chomping at the bit to approve short sales. That is when a lender approves for a sale which is less than the face mortgage balance. Banks and lenders do not operate under a charity model. They will only approve a short [...]

      Written by: myBudget 360


      Tucson Short Sales - Part 1 - What are Short Sales?
      Since the real estate boom of 2003-2005 the Tucson real estate market has been flooded with homes going into foreclosure, short sale homes, and bank-owned homes. Many consumers aren’t completely clear on what a short sale is, but the easy explanation is this: Whenever you are trying to sell your home for less than what [...]

      Written by: Tucson REblog


      Short Sales in a Buyer’s Market
      There are many homes on the market today, a good number of them listed as short sales. The basic definition in the Tampa market of a short sale is a home that will be sold for less than the actual amount owed. Patience is a key word for buyers in making an offer on a short [...]

      Written by: Tampa Florida Real estate - Homeward real estate


      Multiple Offers on Short Sales - Best Practices
      In the June 2008 issue of Southern Nevada Realtor, GLVAR attorney, Deanne Rymarowicz, addresses the subject of managing short sales. In this article she answers some very specific questions real estate agents are currently dealing with in our market. I...

      Written by: Jan O’Brien – Real Estate Coach


      Common Questions and Answers on Short Sales
      It is interesting how the learning curve in real estate truly reflects who is doing the business. It amazes me how every day I am coaching and advising real estate agents on how to handle a short sale or REO...

      Written by: Jan O’Brien – Real Estate Coach


      Orange County Short Sales
      Short Sale Process In Orange County CA Short Sale Video By Fred Sed List your home with Fred Sed, Orange County Short Sale Agent YOUR ORANGE COUNTY SHORT SALE REALTOR at 949-274-3733 IS YOUR HOME WORTH LESS THAN YOU PAID AND LESS THAN YOU OWE THE BANK? YOU'RE NOT ALONE....... MOST PEOPLE WHO PURCHASED A HOME DURING THE LAST 4-5 YEARS ARE IN THE SAME SITUATION IF THEY DIDN'T PUT 30% DOWN! IS YOUR

      Written by: Orange County Real Estate


      The Wonderful World of Short Sales
      Short Sales is one of the most popular terms in real estate today. What is a short sale? – It is the obtaining a property for a smaller amount than what is owed on it from the lender. Because of recently declining prices in homes, banks and lending institutions are making more deals than they have [...]

      Written by: GuReview REI Blog


      Short Sales of Homes
      Although short sales share the same name in the stock market they aren’t similar in real estate. The term in real estate refers to a transaction where a homeowner sells a home to a buyer for less than the amount owed on a mortgage. Then the bank or other lender may accept the shorted proceeds [...]

      Written by: Mortgage Rate Blog - US Mortgage Rates


      Short Sales of Homes
      Although short sales share the same name in the stock market they aren’t similar in real estate. The term in real estate refers to a transaction where a homeowner sells a home to a buyer for less than the amount owed on a mortgage. Then the bank or other lender may accept the shorted proceeds [...]

      Written by: Mortgage Rate Blog - US Mortgage Rates


      Short Sales of Homes in Jasper and Pickens County GA . . . A New "Trend"?
      The new catch-phrase in Pickens County GA real estate, as with markets across the country, is "possible short-sale". In real estate terms, a short sale is the sale of a home for less than what is owed to the lender. This usually occurs when the borrower is substantially behind on mortgage payments and is faced with foreclosure, but in which the lender is willing to take an upfront loss rather

      Written by: CurbView Jasper


      Port Orange Short Sales Tax Information | Port Orange FL Real Estate
      Important Tax information shared by Sue Rogers, Manager and Licensed Title AGent of True Title, Inc., 1265 W. Granada Blvd., Ste 1, Ormond Beach, FL 32174. On December 20th, Bush signed into law a measure that will change the tax effects for a homeowner in foreclosure. These are critical changes that may change your [...]

      Written by: Port Orange Juice


      Port Orange Short Sales Tax Information | Port Orange FL Real Estate
      Important Tax information shared by Sue Rogers, Manager and Licensed Title AGent of True Title, Inc., 1265 W. Granada Blvd., Ste 1, Ormond Beach, FL 32174. On December 20th, Bush signed into law a measure that will change the tax effects for a homeowner in foreclosure. These are critical changes that may change your [...]

      Written by: Port Orange Juice


      Many Reasons Why Lenders Should Jump on Short Sales
            This morning’s Wall Street Journal had an interesting article on “Why Lenders Are Leery of Short Sales“.  In articles posted to “thecincyblog” I have tried to educate consumers on:  “Crucial Sort Sale  Advice for the Greater Cincinnati Area“, “Foreclosure Assistance“, “How To Understand The Mortgage Mess” and “4 Truths About the Subprime Bailout“.  And while the [...]

      Written by: The Cincy Blog


      Mr. Bank/Lenders that are rejecting Short Sales ~ Where is the logic?
      Do you get the feeling the lenders are rejecting short sale requests without really thinking about it? And do you wonder why?  I do.  I am finding that the lenders are taking more time to say NO to short sale requests.  It is puzzling to me because once that home is foreclosed on, it then becomes a REO property which means that it will more than likely sell for less than what the short sale offers were for. Below are two lists that will help convince a lender to agree to a Short Sale instead of forcing a foreclosure: SHORT SALEFewer legal costs Greater recovery ratio Fewer non-performing loans Lower reserves Existing loans more marketable to secondary market Fewer R.E.O. marketing costs Fewer repairs likely Greater marketability of property Likely greater value fro

      Written by: Mother and Daughter Blog


      Short Sales Now Widespread
      Roughly 20 percent of all U.S. home sales in March were “short sales” according to a real estate industry survey conducted by Washington-based Campbell Communications. According to their research, two-thirds of short sales are initiated by homeowners and one-third are launched by mortgage lenders (as a foreclosure alternative). In a typical home transaction the seller gets [...]

      Written by: Real Estate Investment Blog


      Worst MLS Photo Of The Day - Sparkling Pools Are The Hallmark Of Bank Owned Foreclosures And Short Sales
      A sparkling pool for summer fun. Does the pump work? Got a body to hide? This is a great place for it. Does the heat and air work? Does the plumbing? Don’t expect any disclosures. The banks REFUSE to make any. Buyer beware!       Bank owned property can make a great investment, if you’ve got the patience [...]

      Written by: VeryVintageVegas


      Hawaii's real estate short sales
      The process of a short sale is not an easy matter. It is difficult and time consuming. I think it best to find a real estate agent with experience in this matter. It should be noted that many agents do not have this experience as many of the agents in the business today came in when it was an up market and many of these same agents who are swelling the ranks now will leave the business during this down market. Those agents who have been through at least one up and down market will most likely have the experience you will require. These are the agents you need to work with.Before listing the property for sale however the owner will need to contact the lender and probably ask for the 'Loss Mitigation Department' or similar titled department and speak to a member of this department who actual

      Written by: Hawaii real estate news


      Why Jack LeVine Thinks Short Sales Are Usually A Waste Of Time When You’re Trying To Buy Las Vegas Real Estate
      Barbie and Blaine didn’t get the home they were trying buy! . WHY YOU ASK? Because it was a short sale. It was listed at a ridiculously low price. My guestimate was that the house was worth about 280,000, even in current condition and in today’s market. But it was listed for 230,000, and was by far superior [...]

      Written by: Very Vintage Vegas


      An Optimists View Of Northern Virginia Short Sales
      Yes Virginia short sales do get to closing.  Is it the easiest route to homeownership?  No the easiest way is to find an owner who is aware of the current market conditions in Northern Virginia and prices their home to reflect the market.  Can a short sale work for buyers who are looking for a [...]

      Written by: VaRealEstateTalk


      An Optimists View Of Northern Virginia Short Sales
      Yes Virginia short sales do get to closing.  Is it the easiest route to homeownership?  No the easiest way is to find an owner who is aware of the current market conditions in Northern Virginia and prices their home to reflect the market.  Can a short sale work for buyers who are looking for a [...]

      Written by: VaRealEstateTalk


      Letting The Cat Out Of The Bag On Short Sales
        There has been a conspiracy for years that Walmart will offer the lowest prices and when everyone else is out of business they will raise prices since we will have to use their services.  I am not convinced of this argument, but their is a similar issue taking place in the housing industry.  How would you feel [...]

      Written by: The Real Estate Bakery


      Home equity lenders preventing short sales and refinancing?
      Looking for another reason why a government bailout is becoming closer to a sure thing? Because we live in a country in which self interest is not only encouraged, but often forced upon companies which must answer to shareholders, investors and Wall Street. And few sectors of the economy demonstrate this self-interest more than mortgage lenders, which is why calls by John McCain for voluntary compliance by lenders for workouts in the name of "helping your country" not only reveals his economic ignorance, but makes me wonder if he, like Rip Van Winkle, has been asleep for the last 30 years. Whatever national values he might have fought for when he was captured and tortured in a POW camp for 5 years seems to be long gone (one thinks he might have seen the writing on that wall when he ran a

      Written by: Housing Chronicles


      What are Short Sales?
      Lately, I have noticed a lot more “short sales” happening in the condo/housing market in Atlanta, and wanted to learn more about them, so I started doing a lot of research. I have found a couple of good articles for buyers about short sales and the pros and cons that can occur with one. [...]

      Written by: Atlanta Intown Lofts


      A suggestion to those enduring short sales
      I don't recommend Realtors take on Short Sales on their own.  Their tedious, time consuming and a buden to ones real estate production.  Short Sale  Education alone won't do.  Get a good team together and your success in short sales will be acheived.  This is how we do it.   We have an Acquisition specialist who brings us the dealsWe have a Realtor who lists the deals (as required by the lenders)We have a Negotiator who handles the preparation of the short sale packets and negotiations with the lendersWe have an established buyer network to purchase our short salesAll in all this set up of team work has created increased listings, increased overall production, increased interest in our operations and subsequently incr

      Written by: Live The Montana Dream


      Short Sales can be misleading...
      It is easy to get exited when one is looking for homes and sees a 3400 sq/ft home in a new urban area like Gilbert, Arizona built in 2004 listed at $299,000 with a huge yard and pool.  Keep in mind, this house originally sold for $575k.  You read the description and think it sounds perfect...it's advertised as a short sale, but surely you can put up with a little extra work and inconvenience if it will net you a smoking deal right?  My Grandmother, and probably yours too, used to say, "If it sounds too good to be true, then it probably is"....and once again my Grandmother is right.Some agents are advertising short sales well below what is reasonable and what a bank will accept trying to create a bidding atmosphere.  They have no intention of getting a

      Written by: Tiffany's Arizona Real Estate Blog


      Short Sales
      Before this happens, there is the possibility of a short sale.  This option is an agreement between the homeowner and the lender that discounts the mortgage due to a financial hardship.  It’s better for both parties than a fore-closure too.  Not surprisingly, with the massive sub-prime loans, ARMs, and investor held mortgages, short sales are [...]

      Written by: The Myrtle Beach Wave


      New law on tax implications of short sales and foreclosures
      The other day I was showing a buyer through a multi-family, and the owner/broker told us that he was going to apply for a short sale if we offered anything under 400,000 He owed that amount on the building; his wife had bought it as an investment [...]

      Written by: Concord Realty Blog


      Short Sales
      Allow me to rant a minute about short sales. One of my buyer’s has been trying to buy a house that is a short sale, i.e. the owner owes more on the mortgage than the house is now worth. Banks will sometimes accept less than the mortgage to get out of having to [...]

      Written by: Concord Realty Blog


      Alivio de Impuestos para Short Sales y Ejecuciones Hipotecarias es firmada por el Presidente (H.R. 3648)
      Despues de leer el articulo "Taxes en Short Sales y Foreclosures," pocos dueños de casa que estan vendiendo sus propiedades como short sales en San Jose, lo miraron como un alivio porque muchos refinanciaron o compraron sus casas con zero de enganche. Cuando publique este articulo, habian varios "bills" que fueron introducidos per nada havia sido [...]

      Written by: Bienes Raices en San Jose: Mi Casa y Mi Dinero


      Crofton Home Sellers - Relief for Short Sales
      Most Crofton residents won’t be affected by the new tax bill signed by President Bush yesterday, but anyone who purchased or refinanced their home in the past 2–3 years could be, if the loan balance is higher than today’s selling price.  That situation is known as a “short sale”. Homeowners were taxed on any amount forgiven by a lender in a short sale negotiation or foreclosure, in the past, creating a tremendous financial burden.  Now, under The Mortgage Relief Act (click here), the loan amount written off by your lender will no longer be considered taxable for debts forgiven between Jan. 1, 2007, and Dec. 31, 2009.   “When you’re worried about making your payments, higher taxes are the last thing you need to worry about,” President Bush said. “This is going to make a happy holiday for many homeowners.” Senator George Voinovich, R-Ohio, who authored this legislation, said &ld

      Written by: Focus On Crofton


      The 3 Most Important Things To Know About Short Sales And Pre-Foreclosures
      1. There are predators out there and they know how to find distress sales, short sales and pre-foreclosures. Not everyone who wants to buy your home or property is a predator. However they’re out there. So, just be aware to read carefully and remember DON’T PAY TO ANYONE TO DO A SHORT SALE FOR YOU! 2. How do I protect myself from those, not looking out for my best interest? If your selling a property yourself, have an attorney look over any contract BEFORE YOU SIGN IT. Hire a Realtor to market your home or property. Be sure to interview as many as you need to find one you are comfortable with to: Trust to act in your best interest, review and explain details of any offer Have the experience to get you sale done. An inexperienced Agent can cost you a deal or worse… your home. All offers should provide that the contract is for a short sale and subject to 3rd party approval. 3. Time is limited when the foreclosure process starts. After Three mis

      Written by: Tampa Florida Real estate - Homeward real estate


      Short Sales! Friend or Foe?
      Almost every realtor here knows about short sales and the long time process that some of the banks can take to respond to any offer. Most consumers may not be willing to wait the time period necessary to get a response, and some short sales are listed too late to get a response prior to being auctioned. What do we do? The answer is inform.  Many times in a short sale situation, the house is selling for a substantial reduction in price than it originally did. If buyers know that they are getting a $500,000 house for $350,000 if they wait an extra week or two, then they might be a little more patient about the whole process. Everyone wants a transaction completed ASAP, especially during the holiday season.  Buy informing and keeping the client appraised of the situation, we create consumers that will be less susceptible to the hype and panic and ones that are making an informed decision.

      Written by: Matthew Zgonc - Active Rain


      5 Things You Need To Know about Foreclosure and Short Sales
      Featured Short Sale Listing2706 W. Cleveland St,Tampa  If you are late with a mortgage payment or you know you can not keep up with your mortgage call your mortgage company and let them know what’s happening. Call a Realtor with real experience, dealing with mortgage company’s loss mitigation or short sales department.  Do not ignore letters from you mortgage company or their attorneys. Foreclosure is much worse than a short sale or pre-foreclosure sale. Once you’ve identified at least 2 Realtors who know how to handle a short sale or pre-foreclosure sale, select the agent with the better marketing plan. The real estate market is getting flooded with short sales and pre-Foreclosures and listing the home does not guarantee a sale. It takes skill and knowledge to compete in the Tampa real estate market. Once a contract is written and the proper package is submitted to the lender or lenders it is important that the buyer and the buyers age

      Written by: Tampa Florida Real estate - Homeward real estate


      Taxes en Short Sales y Foreclosures
      A muchos les sorprende que uno puede perder su casa al venderla en short sale o dejar que se la quite el banco en la ejecucion hipotecaria (foreclosure) y aun asi tener la obligacion de pagar taxes sobre la cantidad que el banco perdio despues de la transaccion. (Lea la “Guia para Dueños de Casa: [...]

      Written by: Bienes Raices en San Jose: Mi Casa y Mi Dinero


      Central Florida Foreclosures and Short Sales
      Here is a list of current foreclosures, short sales, pre foreclosures, foreclosures and bank owned properties in the Central Florida Area including Orlando, Windermere, Kissimmee and Davenport.   Whether you are looking for a distressed condominium or a Multi Million Dollar home you can find it here.  All listings are current as of 11/1/07. Orlando, FL Distressed Homes: New [...]

      Written by: Orlando Real Estate


      Short Sales and Foreclosures in Ann Arbor, Michigan
      Looking for an Ann Arbor investment property or flip...Look no further!You can find some steals and deals that are available to Ann Arbor buyers right now! There are 78 condos priced below $100,000! This is an excellent place to shop if you are an investor or would like to buy a cheap condo. There are almost 387 condos priced below $200,000.  Condos that will require a Short Sale to be sold or which are in the Pre-Foreclosure or redemption period are available in all price ranges...including the luxury market.  Click Here to view two condo steals.   Since this link might not stay active more than seven days, the addresses for a couple of deals are: 827 ASA GRAY #358 and 2124 Pauline Blvd #308, courtesy of Ann Arbor Area Board of Realtors MLS, IDX. Likewise, click here to view two bank owned steals at 5000 DEXTER-ANN ARBOR RD and 2136 CHAMPAGNE.  There are 7 homes under $100,000 in Ann Arbor and 179 under $200,000. With our average home

      Written by: Ann Arbor Talks


      Short Sales: What might come up!
          Lets list some of the consequences of a short sale that will help pull the information together and help in getting the head out the sand:                                                              What types of problems may come up? Sale doesn't close - SELLERForeclosurePotential servicing of two properties (if seller has acquired a new home or rental)Costs of failed escrowTime and cost of listingAlienation of future clientSale doesn't close - BUYERLoss of other purchase opportunitiesCost of acquisition loan (fees, appraisal, etc) and due diligenceSale of previous residence / need to find a new residenceCosts of failed escrowAlienation of pot

      Written by: Mother and Daughter Blog


      Guia para dueños de casa: Short Sales y Ejecucion Hipotecaria Pt1 (La realidad de un foreclosure)
      El sueño Es el año 2005, para otros 2006, y para otros 2007, y usted esta feliz por que finalmente realize su sueño Americano (o Suño Latino) de comprar su propia casa. Usted finalmente tiene una casa donde puede construir un futuro para usted y su familia. Segun su agente y su prestamista, ellos le prometieron que [...]

      Written by: Bienes Raices en San Jose: Mi Casa y Mi Dinero


      Guia para dueños de casa: Short Sales y Ejecucion Hipotecaria Pt2 (Alternativas para no vender)
      La solucion Si usted esta en una situacion similar a las explicadas en el primer articulo, el primer paso que debe hacer es (*si usted tiene tiempo*) reparar su credito (cuidado con las companias que offrecen reparar su credito) hantes de refinanciar y calcular si usted tiene suficiente plus valia (equity) para beneficiarse del refinanciamiento. Si [...]

      Written by: Bienes Raices en San Jose: Mi Casa y Mi Dinero


      Guia para dueños de casa: Short Sales y Ejecucion Hipotecaria Pt3 (Vendiendo su casa)
      Otras soluciones Si ninguna de las opciones que le he explicado le ayudan a resolver su problema, usted todavia tiene mas opciones. Sin embargo tenga por entendido que las siguientes soluciones tienen consequencias con su credito, legalmente y con los impuestos. Las consequencias con su credito les puedo explicar en detalle personalmente. Pero, si usted quere informarse [...]

      Written by: Bienes Raices en San Jose: Mi Casa y Mi Dinero


      Guia para dueños de casa: Short Sales y Ejecucion Hipotecaria Pt4 (Las consequencias)
      OK, ahora que usted tiene entendido todas sus opciones disponibles cuando esta apunto de perder su casa o ya no puede seguir haciendo los pagos hipotecarios o esta vendiendo su casa como short sale o no tiene posibilidades de refinanciar; yo le dire las consequencias que podria tener cuando haga un short sale, deed-in-lieu of [...]

      Written by: Bienes Raices en San Jose: Mi Casa y Mi Dinero


      The Short Sale Report: Volume 2 – Record 10,000+ Short Sales in Southern California.
      While everyone is talking about multiple housing related issues, it seems that people are failing to report on the monumental record we set this week. Southern California, for the first time this millennium has hit a record of 10,000 short sales. The record occurred this week and we are currently riding high with 10,195 short sales. As you can see from the above chart, the trajectory is rather clear unlike the predictions many housing pundits are making. It is interesting to also note that while short sales are drastically increasing, inventory is either holding steady or dropping. Even if it is slightly down, this is a major change in the market as well. Since overall sales are dropping off the cliff we can safely assume one thing is going on. For each short sale that hits the market, we have some stuntman mortgage holder taking his home off the market thinking that housing Santa Clause will come in December. Why do people think winter is a good selling season? Clearly i

      Written by: Doctor Housing Bubble - How I Learned to Love Southern California and Forget the Housing Bubble!


      The ABC’s of Foreclosures, Short Sales and REOs - Definitions and Terminology - PART III
      Here we are – Short Sales! SHORT SALES A short sale occurs when the seller owes more on the property than it’s worth…  it’s that simple.  But ah, yes, it does get more complicated from here.  One of two scenarios generally occur. Scenario 1:  The seller may be willing and/or able to bring money to the table in order to complete the transaction.  If this occurs, this is not considered a “short sale” but sometimes you’ll hear this seller referred to as being upside-down on a transaction.  Scenario 2:  The seller approaches the lender (s) to work out some sort of reduced payoff.  Sometimes they need to approach both their first trust and second trust lenders and they need to work together to come up with feasible options.  In this case, the lender becomes a 3rd party to the transaction and has to “approve” any terms or contracts that the seller agrees to.   In a way, it seems un

      Written by: Northern Virginia Real Estate


      The ABC’s of Foreclosures, Short Sales and REOs - Definitions and Terminology - PART III
      Here we are – Short Sales! SHORT SALES A short sale occurs when the seller owes more on the property than it’s worth…  it’s that simple.  But ah, yes, it does get more complicated from here.  One of two scenarios generally occur. Scenario 1:  The seller may be willing and/or able to bring money to the table in [...]

      Written by: Northern Virginia Real Estate


      The ABC’s of Foreclosures, Short Sales and REOs - Definitions and Terminology - PART II
      So, I’m sure I intrigued a lot of you yesterday with this fun topic!  Frankly I was a little worn out, but decided to have another go of it today.  REO REO stands for “Real Estate Owned” and is the term used when the bank (lender) now owns the real property and is selling it.  It’s happens when there are no bidders at foreclosure OR if the bids are too low - the bank will have a representative present at the foreclosure auction to prevent a sale from occurring at a price lower than they are willing to accept.  So, when looking at a listing that is REO, it simply means the bank owns it… the bank IS the seller.  The good news is that they will clear up any title problems remaining from the foreclosure.   The bad news is that the property will still be sold in as-is condition; and there will be an addendum to the Regional Sales Contract that will override some of the provisions therein.  Interestingly, they are

      Written by: Northern Virginia Real Estate


      The ABC’s of Foreclosures, Short Sales and REOs - Definitions and Terminology - PART II
      So, I’m sure I intrigued a lot of you yesterday with this fun topic!  Frankly I was a little worn out, but decided to have another go of it today.  REO REO stands for “Real Estate Owned” and is the term used when the bank (lender) now owns the real property and is selling it.  It’s [...]

      Written by: Northern Virginia Real Estate


      The ABC’s of Foreclosures, Short Sales and REOs - Definitions and Terminology - PART I
      These days there seems to be a lot of talk about real estate foreclosures.  In fact, in the year 2008 approximately 2,000,000 (that’s TWO MILLION) ARMs (Adjustable Rate Mortgages) will adjust…  pretty staggering, isn’t it?  And as they adjust, there will be some that simply cannot make the payments.  For a multitude of reasons, people find themselves in this situation every day.  I am going to focus most of this week’s blog topics around foreclosures, short sales, being a seller, being a buyer, risks, pitfalls, upsides (if I can find any) and general information that is pertinent. Today, let’s look at foreclosure.  Foreclosure is a process the mortgage holder begins when payments are not made in a timely fashion.  When you sat at the settlement table and signed documents, one of them outlined where, when, how much and to whom payments would be made.  It also went on to detail what would happen if you failed to make

      Written by: Northern Virginia Real Estate


      Tips On Buying Foreclosures, Short Sales and Success
      Lately there has been lots of hype about buying foreclosures and short sales and how you can buy properties for 50%-75% below market value. Well while there may have been a few such deals made, in actuality most of the time you get the property for anywhere between 5%-35% below market value. In the next [...]

      Written by: Real Estate Investing Training


      Short sales of homes on rise
      The couple found a solution to their dilemma -- a "short sale," in which a lender agrees to accept less than the total amount remaining on the mortgage, allowing the homeowner to sell the property at a lower price and pay off the small er loan balance.As foreclosures soar nationwide, lenders are more eager to negotiate short sales to avoid the expense and hassles of seizing a delinquent customer's property. Foreclosing on a house and selling it in an auction costs $50,000, on average, in New England, and that amount is on top of the funds the lender needs to pay off the loan itself.

      Written by: Boston real estate news


      The Newest Buzz Term- Short Sales
      I am sure that a lot of you have been reading about the mortgage melt down. It is all over the news, the papers and quite the topic. Short sales are now the way to go for a lot of people who have homes that are worth less than the mortgage amount due on them. What is a short sale? How does it work?From The New York Times, Short Sales.

      Written by: Westchester Real Estate Blog


      Short Sales are Becoming more Common, what are they?
      I can keep this post short.  When a bank will accept less than what is owed on a property it is called a short sale.  When a borrower falls behind on his or her mortgage payments lenders can ask the borrower to pay the entire mortgage off immediatly.  Most borrowers can not do that so that bank starts the foreclosure process.  To avoid foreclosure the borrower can give the home back to the bank, we call this deed in lieu of foreclosure, or the borrower can sell the property and pay off the mortgage, or the borrower, and maybe a Realtor can negotiate with the bank to accept less than what is owed on the property. It costs banks money to go through the foreclosure process and after it is over and the home is on the market they still might not get what is owed on it and recoup their costs, which is why they may agree to a short sale. I will write more short posts on the subject in the future.  The reason I have not written many is because they attract a lot o

      Written by: St. Paul Real Estate Blog


      Short Sales – Hawaii Buyer Beware!
      Recently, more short sale properties have come on the market. A short sale is a situation where a property seller needs to sell and the sale proceeds are not sufficient to pay off the existing mortgage. It is an alternative to foreclosure. The term short sale or short pay refers to a process whereby the mortgage company must agree to a reduced payoff for the sale to take place. All sale costs must be included and the seller receives nothing, except debt relief and not have a foreclosure on their record.

      Written by: Hawaii real estate news


      Short Sales Webinar Training
      Foreclosure.com America’s most complete residential foreclosure property listing service is getting into the Education and Training business through Webinars. The next webinar is schedule for July 26th at 9:00 PM ET. The Foreclosure.com Webinar is an interactive online real estate training experience that fosters an exchange of ideas and information in real-time.The 90-minute educational bi-monthly sessions are live, which means that you get instant answers directly from the experts to those burning real estate questions that keep you awake at night. See, hear and interact with the experts right from your own computer. Featured will be some of the top real estate minds and gurus from around the nation who will share their secrets to success and provide information that you can use right away. On July 26th catch James Gage — undoubtedly one of America’s premiere authorities on creative real estate investing and negotiating — will provide helpful tips and advice on how t

      Written by: GuReview REI Blog


      Short Sales - The Solution To The Deflating Market
      So California is slowly cooling off. Foreclosures are at all time highs and no one has any equity. There are two solutions that I can possibly foresee: Lease Option or Short Sale. You can check... View the Full Post at San Fernando Valley Blog

      Written by: The San Fernando Valley Real Estate Blog


      Secrets of Short Sales Boot Camp
      The Secrets of Short Sales Boot Camp is a comprehensive, in-depth and systematic approach to learning how to conduct real estate short sales while creating a real estate and pre-foreclosure investing business. There are 2 events being held: May 3-6, 2007 Atlanta, Georgia November 29-December 2, 2007 Orlando, Florida Register Here In addition to getting Mark’s step-by-step Short Sale system, you’ll also receive a wealth of tips and strategies that no other trainer will tell you. In other words, you’ll learn how to do pre-foreclosure deals once you go back to your own real estate market. Among the many “Insider” things you will learn during the 4-day live event are: Why banks accept discounts and how to easily spot the best deal prospects. Where to get the money when the lender accepts your deal and why your financial situation doesn’t matter! Which words to avoid using with sellers and lenders at ALL costs. The mistakes most investors ma

      Written by: GuReview REI Blog


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