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Coeur d Alene, ID

Coeur d'Alene Lake Bank Repo REO Success Story!

Janna Rankin Scharf - Realtor Coeur d'Alene and North Idaho Homes: Real Estate Agent in Coeur d Alene, ID

Coeur d'Alene Lake Bank Repo REO Success Story!Coeur d'Alene Lake REO Bank Repo

On Labor Day I received a call from a wonderful family who wanted to look at a couple of bank repo homes for sale on Coeur d'Alene Lake. They had decided the timing was right to purchase a vacation home on Coeur d'Alene Lake and it was my privilege to assist them in getting a great value on a stellar property. Inventory is high and buyers are scarce. There has NEVER been a better time than right now to be a buyer on Coeur d'Alene Lake!This has been a long distance closing, they live out of state and I am in Colorado at the moment on a working vacation with my son's family. The call just came in that the transaction has funded and has been recorded. We're closed! No Success Story photo with my smiling clients this time, but imagine the photo ops this summer as they park their boat outside their back door or spend time on the private Captain Kidd Association sandy beach. Or spend evenings watching the twinkling lights at the Coeur d'Alene Resort across the bay.

The home they chose is a charming A-frame on a peninsula with three other homes, in Kidd Island Bay. It's a 1,938 square foot two story with an attached double garage and water frontage in front AND back! It was last purchased in 2006 for $575,000. It had been listed for a time as a short sale at $450,000. When we made our offer it was a Bank repo REO on Coeur d'Alene Lake that had recently been reduced to just under $400,000. We negotiated for a few weeks, and in the end they are getting a true SCREAMING DEAL on a stellar Coeur d'Alene Lake waterfront home for $340,000! Congratulations Jack and Gayle!

THIS is the best part of my job!

Click here if you would like to take a look at ALL waterfront homes for sale on Coeur d'Alene Lake. You'll find details, photos and other information that has been uploaded by the listing agents. This link will remain active for 30 days and will be updated daily. Give me a call if you would like to see any of them and create your own Coeur d'alene Lake waterfront Success Story!

Click here if you would like to take a look at all Kootenai County bank repos (Called REOs for Real Estate Owned which is a line item on the banks balance sheet). This link will also remain active for 30 days and be updated daily. Give me a call if you would like a personal tour of REO homes in Kootenai County. The best REO homes don't last long, so if you are sitting on the fence, it's time to hop down!

Wondering which way to turn for sound real estate advice in Coeur d'Alene?

Janna Rankin Scharf - Realtor Coeur d'Alene and North Idaho Homes: Real Estate Agent in Coeur d Alene, ID

Wondering which way to turn for sound real estate advice?My son took this picture this morning in downtown
Coeur d'Alene for a school photography project. I got a big kick out of it. I have had days that feel like this! I think we all have. Dreary days of indecision. Days where no matter how determined we are to stay positive, we just can't seem to find that silver lining.

Sometimes, we all come to a fork in the road of our lives where none of our options appear to be good ones. Especially when circumstances beyond our control seem to be forcing us down a road we don't want to travel.

If you find
yourself wondering which way to turn for sound real estate advice, please give me a call. Sometimes just talking about it can bring a better course of action into focus.

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Captain Wayne Rowlett: Real Estate Trainer in Panama City, FL

Welcome to the Finest Fully Accredited Idaho Online Real Estate School with the best prices available. Check out our website www.RowlettCareerSchool.com. Our passing rate meets or exceeds any other online course provider. Get your Idaho Real Estate License here. Captain Wayne Rowlett and the Rowlett Career School offer the finest online real estate school in the Industry. Please take a few moments to explore our site where you will find detailed information on our full service online Idaho real estate school and live classes. http://www.rowlettcareerschool.com/id-idaho.htm

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Coeur d'Alene Short Sale Q&A ~ Can I short sale my house to avoid foreclosure if I have an IRS tax lien?

Janna Rankin Scharf - Realtor Coeur d'Alene and North Idaho Homes: Real Estate Agent in Coeur d Alene, ID

Coeur d'Alene Short Sale Q&A ~ Can I short sale my house to avoid foreclosure if I have an IRS tax lien?

I received this question from someone who was trying to decide what their best course of action was to avoid foreclosure:

Our small business failed and as a result we had a lot of business bills that we were personally responsible for. Now we have an IRS tax lien and a judgment filed against our house. We can't afford to pay those debts off right now. We owe more than our house is worth. Is short selling our house to avoid foreclosure even an option?

First of all, let me say that I am not an attorney and can't give legal advice. But I can tell you what has been my experience with this situation.

In general, creditors who have placed a lien against your home will release that lien to allow your short sale to go through with the stipulation that YOU are not receiving any proceeds of the sale. This even holds true for the IRS.

The creditors place the lien on your home for the express purpose of being paid off with your equity if you sell your home before you have paid the debt. If there is no equity above what you owe on your mortgage for them to claim, then it is fruitless for them. They have no interest in blocking your sale just to be mean and vindictive. Yes, even the IRS!

Each creditor will have to issue a release, and this will take some time and diligent effort to make happen. A savvy Realtor working with a sharp escrow officer will be your best friends in this situation.

If you are short selling your home to avoid foreclosure, then you are unquestionably in a situation where you will not receive any proceeds from the sale. This is the perfect environment for creditors to agree to release their liens. This doesn't mean that you don't still owe them on the debt. Just that you can short sell your home to avoid foreclosure.

Please call me if you would like to discuss whether a short sale is a good option for you. Knowledge is power!

Coeur d'Alene Real Estate ~ Happy Endings and New Beginings!

Janna Rankin Scharf - Realtor Coeur d'Alene and North Idaho Homes: Real Estate Agent in Coeur d Alene, ID

Today is a GOOD DAY!

Back in June I received an email from a woman who had stumbled in cyberspace upon a story I had just posted to my blog. It was about REALLY BAD photos I had just come across when doing a search of high end homes. Those awful photos are a pet peeve of mine, they leave me scratching my head in amazement. From time to time I post them on my blog so you can be amazed and astonished, too!

Coeur d'Alene Vintage Home for SaleIn her email, Jennifer asked me if I could recommend a good real estate agent to sell her LOW end home, since I prefer HIGH end homes. Holy Moses! I quickly convinced her that I love to market homes of ANY price that are well cared for and priced correctly! (ESPECIALLY in a market where 68% of homes sold last month were under $200K, and just 12% were above $300K...)

We set out on June 9 to get her cute-as-a-button 728 sq. ft. vintage home sold in time for her wedding in September. Jen works from home and needs high speed internet. Her fiance had a house and a job in the Silver Valley, without access to high speed internet. Hmmm. Each home was perfect for them as individuals, neither would work well for them as a couple.

Jen and John's Happy Ending and New Beginning!As cute as it is, and well maintained, Jen's house proved a challenge because it was so petite! As time passed and her Hawaiian wedding approached, Jen resigned herself to Plan B. As it turned out, the day that Jen and John were saying their wedding vows beside the ocean, the offer came in. I got to call her on the morning of her first day of married life to present the offer. She countered via the fax machine at the library near the beach on Kauai.

This morning, I was privileged to witness Jen get her happy ending to homeownership as a single woman. It's a new beginning for her and John as they begin their search for the perfect house for their life together. Working with Jen has been the absolute bright spot in a long season full of distressed sellers and difficult transactions. May she and John live happily ever after!

THIS is the best part of my job!