And the buyer says ..... can we go out looking EVERYDAY???
The market is so confusing right now that it is almost that you have to take the buyers out to view properties at least 2 times a week! The properties are not staying on the market long, the offers are going way higher than the listed price and therefore the offers are in Pending before you can set up an appointment to go out and view it. Is this a good thing? What about your other buyers and other things you have to do during the day?
It is a good thing for the seller and the listing agent, but it is unfortunate for anxious buyers if there is no time to get the offers submitted before they are gone.
Fannie Mae has changed the way of their listings:
Although we don't agree with all of Fannie Mae rules, these are a few good changes.
FHA buyers have enough competition and restrictions to their purchase -- this change should help them get at least a chance at the listings. FHA will not lend on flips that are younger than 90 days.
While it is almost impossible to take one buyer out EVERYDAY... it is wise to go often so your buyer does not miss the buying opportunity.
Need an agent? Give us a call...
Call us at 866-543-0461
So how can the Short Sale process change where it really will help? I will admit Short Sale Automation does sound good!!! I can't wait to see it work.
After reading that REOTrans has first changed their name and secondly and probably most important: they are taking on automating Short Sale process. And then to hear that Bank of American is possibly that first bank to jump on the wagon.... well this brings about questions in my mind.
1. How does this help the agent's job of producing a successful Short Sale
2. Will REOtrans/Equator's involvement help or hender agents from getting the short sale listings? Will the banks end up with a preferred agent list and thus leave out a large number of local agents from the listings?
3. Will it cost the agent to have this new automation?
4. How will this help or hinder the homeowner/borrower? Will it indeed make the process simplier, smoothier, faster and without hassel the homeowners? Will agents have to do more even though it is automated?
5. When will it start? How do we become involved?
6. Or is it that the agent get the listings and then upload the information into the Equator system and manage the Short Sale request (if it is participating bank) through the system?
If the system is there for agent to upload their listings, request, documents and all with a timeline set to get the short sale approved and closed in a timely manner ---> this could be really good for all involved. But it turns out to be a war of the agents to sit by the system and wait for short sale properties to pop up on Equator system (sort of like BPOs) then it could turn out to be a not so good an idea.
** RETrans.com has changed their name to Equator
Call us at 866-543-0461
How to avoid Foreclosure Workshops - connect with your local community services and learn as much as you can about how to avoid foreclosure. Make sure it is FREE and that you do not pay out of pocket for a FREE service!
There are still so many homeowners/borrowers that do not know what to do now that they are about to be in or are in pre-foreclosure. My suggestion is to take advantage of all the FREE services that are out there that may be to offer you a solution to your situation. Look for institutions that offer a FREE service and that have a good track record of doing it right way.
Here is a list of places that are sponsoring a FREE Foreclosure Workshop within the next couple of months. ** these are ones for Northern California, but they are nationwide - look in your area.
There are many other resources that you can use (check with your local resources - community centers, etc). Do a web search under Foreclosure, Short Sales, Loan Modification, Pre-foreclosure, Making Homes Affordable, HUD and your local city should have resources on their sites.
Need an agent? Need a short sale? Give us a call!
Call us at 866-543-0461
Isn't it funny how we didn't hear much from Fannie Mae, Freddie Mac and even HUD during the 2004-early 2007 - and now they are in the headlines almost daily! Folks, they are here to stay this time.....youTube style! Click in on it and see how the information can be useful.
Well Freddie Mac has some valuable information that can help the "underwater" borrower/homeowner find their way to communicate better with their mortgage servicer when they make that call in an attempt to save their home from foreclosure:
If you are or you know someone that is a Late-Pay Borrower, Underwater, pre-foreclosure procedure tell them about this quick little video that can be of benefit to them. Key documents that borrowers should have on hand to help reduce the frustration of having to reduce repeated call, delays and possibly missing the opportunity to take advantage of the options that could be possible for them. The new Freddie Mac video, "Stop Foreclosure: Documents Your Lender Needs to Help You," Click here. It shows step-by-step which documents borrowers should have on hand when they call their servicer. These documents can cut the time a servicer will need to understand the borrower's situation, determine his or her eligibility for a workout, and process the application.
This video will point out that the following documents/information will be necessary for your Mortgage servicer to have - so get them ready and them on hand when you are talking to them:
These documents are also required if you are planning on doing a short sale.
Here are some handy links:Making Home Affordable Program (En Espanol)
HUD-Approved Counseling Agencies (En Espanol)
Avoiding Foreclosure (En Espanol)
Freddie Mac Supports the Housing Recovery
Call us at 866-543-0461
CHECK OUR WEBSITE: http://www.motheranddaughterrealty.com
Finally! Buyers have the choice of using a local escrow office to handle the transaction, thanks to the California Assembly Bill 957 - "The Buyers Choice Act". This bill was signed on October 12, 2009 and is now a law in the state of California (only).
I believe we will need to put our choice on the original contract just to be sure we get it for our buyer. When the seller (bank) choses they usually chose a company that is located either back East or in Southern California.
If you don't ask..... you probably will not get the escrow office that you want.
UPDATE!
Updated news: As it turns out this Bill may have holes in where the seller can still get it back to them getting the escrow company of their choice instead of the buyers, but either:
1. Not choosing offers that ask for the choice of local escrow company or
2. Bank countering back (on bank's addendum) with the name of their choice of escrow company - which means the buyer will either return the addendum signed and agree to all the terms or they may find that they will not get the property!
Either way, its a loop hole that may not be to the advantage of the buyer. This is a "stay tuned" possible improvement. As it turns out.....The judgement/advantage is still out on this one....
CHECK OUR WEBSITE: http://www.motheranddaughterrealty.com
 |
|
|
Area V-Pres/GM - Family Realty /Mother & Daughter Team -Focus: Buyers, Sellers, New, Resale, Short Sales, REOs, Relo. Call: 866-750-8282/Text: 209-627-9119. www.motheranddaughterrealtyteam.com
- Real Estate Agent (work with my daughter as the Mother and Daughter Team)
- pre-foreclosure - FREE Guide
- Short Sales
- REOs
- Property Management
Visit our site: http://www.motheranddaughterrealty.com. I started my real estate career in 2002 working in the new homes community. Now I am in resale and financing. I am motivated, eagered and focused at helping as many clients reach their goal of homeownership, with the least amount of stress. I put my clients as a priority. I have an abundance of faith that by putting God first in my life, hard work and a good spirit, I will be able to successfully help my clients.
I work along side my daugher (D'Adrea Davie)as a Mother and Daughter Realty Team. We are Real Estate Agents at Family Realty Group. We are committed to working together effectively. We are excited to be amongst a group of distinguished Real Estate Professionals who are all apart of the most sophisticated and technologically advanced marketing firm in the Real Estate industry.
As a pair, we consistently approach every transaction as though we are the clients. We understand that whether it is a sell, a purchase or financing for residential or commercial property, it is an emotional and potentially stressful situation. We are committed to alleviating the pressure from our clients through efficient communication and excellent customer relations.
Give us a call for all your Real Estate needs. 866-750-8282
Our focus is on giving our customers excellent service, no matter if it a listing or sell for high end homes or mid stream homes. We list, sell and offer financing. We have an excellent working market plan that we go over with our clients and we work until for success. Family Realty Group is a great company to work with and represent excellent customer care.
We are focusing on Resale, new and Default properties - offering FREE Consulting to help owners negotiate with their lenders first. Once the clients have explored all their options and decide that a short sale is the way to go, we offer our services. Of course we hope that they have enough equity to do a regular sale, if they are unable to catch up their present mortgage.
Visit Rosemary's Website: Rosemary's FaceBook
Thank you so much for helping us find our dream home. What we liked most about your service is that you did not give up on us and you delivered what you promised. We will refer you to our friends and we will definitely call on you when we get ready to upgrade to a larger home. Thank you, thank you! The Alas Family
"Rosemary, I appreciate your professional approach to my questions and I really count on you for your knowledge and immediate response. Keep uo the good work, from now on you will be my realtor and I will refer you to my family and friends. Good luck in your business!" Ms. Phelan
Although our offer was not affected for the short sale, we appreciate you and your professional manner. If we ever need a realtor, we will give you a call. Thanks for your help. J & N Phillips
Rosemary and D'Adrea - We thank you very much for the compassion you showed us. Eventhough we were not looking to sell our home, you helped us negotiate with our lender and for that there is no words to say thank you enough. We appreciate you and will definitely tell our family, friends and associates about your services. You're doing a fine job. Thank you very much. Maria Lopez
Visit our site: http://www.motheranddaughterrealtyteam.com.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
