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Alison Creamer, Realtor, ABR, CDPE Virginia Beach , Virginia

VHDA short sale experiance

Blogging today is a blank !

Have you ever thought what the heck am I going to blog about. I mean afterall everything I have to say is what we all know already. Bail outs, meltdowns, seller screaming , some days I just can't take it. I love what I do and when it goes smooth it goes smooth !!!!

Oh yes I know I can blog about myshort sale experiance. I have to say it was smooth as butter !!!!! Yes I mean really it did.

I listed a home in Aragona, Brick ranch with 3 beds no AC and in as is condition. I put a price of 175k on it. This was a VHDA shortsale and it was my first one. with all the short sales you would think there would be more knowledege out there. I spent hours and hours reading blogs and more blogs trying to make sure I get all the loose ends wrapped up. I asked my clients for complete access to the lender I think this was the 1st and best step I could have asked for.

VHDA set an apprasial and the value came in at 170 as it. I lowered the price and with in 2 weeks we got 2 offers both at around 154 one asked for money the other did not. VHDA was very prompt in replying. I was given instructions to the listing the offer and process. It was that simple ! The buyer did there inspections we removed the contigency and closed. It was amazing !!! As a listing agent I expected a night mare I figured the worst, it was such a surprise. The buyer was hapy the seller was happy and both agents were happy.

Now Im off to figure out how to do a shortsale with countrywide, Ocwen, and Citibank. I dont think it is going to be as easy.

Im one happy gal tonight just picked up the closing check and delivered it to the office

Whats the forclosure buzzzzz

What’s the Buzz on Foreclosure stats did you Taken from realtytrack.com 1-246 notice for foreclose in VA Over half of those are in Fairfax , Louden and Stanton county so Hampton Roads is not fairing to bad even if it feels like it. Hampton Roads 1-544 each month are noticed for foreclosure. Over all compared to the nation this is not a bad statistic. Don’t plan your offers on USA Today reports its not what is going on in HAMPTON ROADS! Sellers are still holding the line on some prices. 3644 foreclosures were noticed for foreclosure in July. Only 824 actually went to sale. WHY? Sellers choose to file bankruptcy or some when in to a short sale. VA foreclosure notice YTD is 30,000 but only 4300 went to sale. The trend went down last month!! In Hampton roads Virginia Beach had the most foreclosure notices. And the average sales price was about 244k on those homes. 1st Qtr of 2008 up 112% from 2007 YTD 23% down from last 4th qtr of 2007 MTD 1 out of 194 homes was foreclosed this equal .5% that is a small number over all 94% of Homeowners are doing just fine.

Weekend buzzz 9-11-2008

Blogs Weekend Buzz......
Virginia Beach Neptune Festival is this weekend this means Food, Music,Triathlon and the Oceana Air show

At the Plaza in town center FREE MUSIC  and activities to include
9-11 Felicia Barton 5pm-8pm
9-13 Michael Coghill 5pm-8pm
9-14 Bob Langston and A-1 Party Artist fun for the kids this is Face painting, balloons artist and Caricature artist
Farmers Market is having a Safety day on 9-13-200 from 11am -3pm
Town Point Park is holding the Boat Expo: tickets are $10 and under

10 tips from Warren Buffet
 
1. Reinvest your profits
2. Be different ( be judged by your standards)
3. Never suck your thumb ( sometimes we have to take action)
4. Spell out your deal before you write it get specific about your wants
5. Watch small expenses that can add up
6. Limit what you borrow
7. Be persistent
8.Know when to quit
9.Asses the risk  ( sometimes walking away is the the right answer)
10. Know what success means to you .

While the recap is vague I think we can all take to heart some of the key items. I especially have been working through number
10 in the list. I have to realize this is a roller coaster Real Estate market and yes I think over all everyones business has dropped. I have been beating my self up with the amount of success I'm having this year while working twice as hard. I have to focus on what is success for me and my family and realize sometimes that definition changes with time.

Have a Great weekend !!!!

Hampton roads Real Estate

What the heck is going on?

Our local newspaper is always doom and gloom. Here we have been run on the roller coaster from up and down great time to buy horrible time to sell. Lower your price; raise your price Im so sick of it. I think I even see some miss information about our market. Our business-planning group does a monthly trend report on what is listed and sold and then we compare from year to year and year today.
We noticed for the 1st month in years this trend showed both listings and sales down. Now is this the start of a new trend? Well be looking again at the June numbers. Will this indicate a stable market or flat market? Now is still an awesome time to buy. Yes I agree sellers are going to have to put a good product on the market well priced an offering more than what they did a few years ago. But guess what when they follow the advice and “fish” the price around these homes will sell. I also do advise my clients if they can hold out 1 year. Let the elections run there course.
I think we are in a slow release of the housing bubble. I don’t think I hear a burst at least not in Hampton Roads. We are pretty luck coastal community, military, and tourist. I think this helps our turn over greatly. The local paper noted that we are -9.4% lower than our median price and -1.1% lower on the median sale price form the prior year. I want to know REALLY should VALUES have ever been as high as they were. What would happen if we have a trend graph of what would have been normal in the past 5 year appreciation and where are the price compared to that? They also stated our listing were up for the year. I’m not sure what report they were using, as out planning session that pulled month end reports from REIN did not see the same numbers. We actually saw a decrease in listings from this time last year and a decrease in buyers.

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Alison Creamer

REMAX Allegiance