About Albany County, NY

These are a few of my never fails conversations with FSBO'S....

1. "Everybody likes my house" - The people looking aren't REALLY going to say what they think when they walk thru your home. Think about this for a second. You're walking thru someones home, whether your interested in buying it or not, are you really going to tell those people that the green carpet is ugly, or that their appliances are disgusting....Or that the furniture is hideous or the "Chinese Theme Room" is not really that Awesome!...As you can tell, I've heard it all (or at least thought it myself).
2. "Nobody looks at THIS house unless they are pre-approved" - Suuuure. If you actually read that 8.5x11 piece of toilet paper, it's actually a pre-quail instead of a pre-approval...Never mind the fact that the letter head on that paper is from Lehman Bros. Mortgage Inc. But really, to ask the hard questions, how much money is in your account? where is the money coming from? and how much money do you make each year? is not something people are comfortable asking or being questioned about unless they feel your worthy of an answer.
3. "This house was appraised for XYZ two years ago" - Actually, what happened was, you called the bank for a re-fi and they asked you what it was worth and then they granted you a HELOC. If they were extra careful, they might have even sent an appraiser to DRIVE BY the home...Wow, and so that's why its worth XYZ? How about XYZ minus 18%...Sounds a bit more realistic.
4. "Well I put a lot of work into this, I did that myself" - You should have hired someone else...
5. "We had it sold, but the buyers had a house to sell and couldn't sell it" - Well basically, you took an offer from someone who wasn't working with an agent. Therefore, they had no guidance and they most likely didn't get any guidance from any agent because the house that they are buying was a FSBO so whoever buys their house probably won't have an agent either...Nope. Wrong. This is a wreck waiting to happen...Now, instead of one guy thinking he has sold his home, one other thinks he is purchasing one and when he realizes he can't sell his, the situation turns a little messy. (Like the video...)
6. "We really can't pay a commission because we really need to walk with XYZ"- Here's the deal...This is what your home is worth regardless of what you need to walk with. We can market the home for its value and ultimately, the buying public will offer what it's worth because they are the ones who determine that sort of thing...Duh, they are the BUYERS!!!! of HOUSES!!!! NO ONE ELSE IS!!!!!

OPEN HOUSE TODAY _ MODEL HOME - 5007 Colonial Drive, Guilderland, NY 4BR, 2.5 BA includes first floor master suite, 9' ceilings, Large Open floor plan, gas fireplace with granite surround, abundance of hardwood and so much more! Come see from 1-4pm today, January 31st!

Beautiful matured new construction site of 10 lots and 2 all ready built homes ready for purchase. New Williamsburg Estates!

See other plans including a 2700 sq. ft. ranch, "The Reagan" - This plan offers 9' ceilings, 4 bedrooms including a large Master suite, FDR, Eat-in gourmet kitchen opens to the "perfect for entertaining" family room with gas fireplace, Den/study, first floor laundy, ceramic tile baths, full basement with 9 foot ceilings. 2 stall side load garage. Force Hot air heating and central air conditioning. Energy Star Certified!

Too big or too small - TP Builders will customize!

TP Builders Inc. is a family owned and operated business. President, Tom Paonessa has been building custom homes in the capital region for over 30 years. He takes pride in being a hands on builder and can be seen at the job site through all phases of the building process. Tom is a master craftsmen and his meticulous style is evident in his masonry work. His son, Tom Jr. is carrying on the legacy and can also be seen at each of the job sites.

Among TP Builders completed subdivisions include: East Loudon Estates in Loudonville, Nash Estates in Colonie, Woodhill Estates and Woodrow Estates in Glennmont, and Stone Hill Estates in North Greenbush.

Tom's particular attention to detail and close supervision throughout the construction process insures each homeowner a quality product. Vice President, Laura Paonessa guides each homeowner through the various stages of building their new home making the process as smooth and hassle-free as possible. At TP Builders we believe there is no place like home.

Take a virtual Tour of Model Home; http://client.imprev.net/89/15189/192904/

Call Christine Serafini of Coldwell Banker Prime Properties to schedule your private showing - (518) 514-8830.
Request showing via email at christine.serafini@coldwellbankerprime.com

Model Home Available for Purchase or 9 other Lots to Choose from.

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T.P. Builders custom built 4BR, 2.5 bath 3000 sq. ft home includes 2 story foyer, 1st floor master suite, 9' first floor ceilings, ample hardwood and ceramic tile, gas fireplace with custom mantle and granite surround. ADT sec.sys., in-ground sprinkler system, full basement studded and insulated ready for finishing! ! TP Builders' homes offer New York ENERGY STAR labels.. The. Builder welcomes your personal. dream plans or you can preview his.

Virtual Tour: http://client.imprev.net/89/15189/192904/

Contact Christine Serafini for your private tour!

cell - (518) 514-8830

email - christine.serafini@cbpp.com

Website - http://www.coldwellbankerprime.com/christine.serafini

I was recently on a conference call with some of the top real estate minds in the country talking about short sales. Based on this call it appears we may be in for a second wave of foreclosures and short sales as many option arm loans are set to adjust in the coming months. It seems like every week I get a call from an investor or homeowner interested in alternatives to foreclosure. Simply put a short sale involves negotiating with the bank that holds the mortgage to accept a lower amount then what is owed on the home so the home can be sold. For example, say the owner owes $200,000 on a home. The home is sold and under contract for $175,000. The sale price results in the owner being "short" $25,000 in funds to pay the bank off. The short sale is contingent on the banks willingness to accept the lower amount and forgive the owner of the additional $25,000. This is a much better alternative to foreclosure.

With short sales almost becoming common place in our market it is surprising to me the perception still is they are not worth the time and effort. The fact of the matter is, if you understand the way they work the process is fairly straight forward. Over the past several months I have had short sales accepted that were tens of thousands of dollars under what was owed. One was even $200,000 short and was accepted by the bank! Typically, we are getting them accepted $50,000-$80,000 short. As far as the time frame goes I have had short sales take at little at 30 days from the time of contract to the time of closing! While this is unusual it can be done!

From my experience there are three critical factors key to the success of short sale. The first is the involvement of a real estate professional familiar with the short sale process. Second is the existence of a legitimate hardship on the part of the seller. This may be a job loss, illness, etc. In one case I have even had incarceration used as a hardship! Finally, the third key to the success of a short sale is the buyer's patience and understanding of the process. A short sale is not a typical transaction and while they can be completed in 30 days, it is not uncommon to wait 90 days for a response and to get a sale approved. If the buyer is not willing to wait and loses patience it will start the process over.

For help with your specific short sale questions contact me anytime. We do this everyday! Do not let you home go to foreclosure when you have a viable short sale alternative!

Visits us anytime at Albany NY Short sales

Your Friend in the business,

Kevin Clancy

518-861-7016
kevin@clancyrealestate.com
http://www.clancyrealestate.com

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