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BUYERS, HOW TO STRUCTURE YOUR SHORT SALE OFFER

Short SaleBUYERS, HOW TO STRUCTURE YOUR SHORT SALE OFFER

Picture yourself as a Lender's Negotiator.

  • 200 files on your desk
  • Under pressure to move through these files
  • More files added daily

You pick up File Number 1

  • Offer is below what you can approve
  • Below area comps
  • Buyer asking for the moon
  • You must read 15 repair requests, home warranty, termite treatment, 6% seller (lender) contribution, etc.

You decide to view File Number 2

  • Offer is list price
  • Listed at market value
  • Clean offer; no Home Warranty or repairs requests

You MUST clear files from your desk!

Which file would you work first?

Need I ask?

Short Sale RepairsAS IS SALE

Remember that a Short Sale is sold AS IS, which means the seller will not make repairs.

It's sold below market value of Regular Sales that include a standard Warranty. So don't ask for repairs. Buy it As Is.

Determine the current value of the home in it's AS IS condition, and make your offer based on that value.

HOME WARRANTY

Don't expect the lender to honor Home Warranty requests for an AS IS sale!

Consider this strategy:

  • Determine fair value of property in AS IS condition.
  • Decide what you're willing to pay,
  • Subtract $400 from the offer price to cover Home Warranty cost
  • Ex: If you were offering $100,000, offer $99,600. The bottom line is the same
  • It's faster for negotiator to compute NET.

NET TO LENDER

  • Negotiator will determine the NET after expenses.
  • You should make it easier for negotiator to determine your offers NET.
  • The more concessions you request, the more work you create for the negotiator, and
  • the more likely s/he is to place your file at the bottom of the file.

Make it easier for the negotiator to work your offer by keeping it clean.

No short sale dealLOWBALL OFFERS

In this market, it's not worth it. Prices in Gilbert, Phoenix area are low already, and most short sales are priced at "distressed market value".

If community Sold comps support the list price, as determined by the buyers agent's CMA, then in order to be in the running to buy that property, your offer should be near list price. If Sellers think it's too low or onerous they will probably reject it.

SELLERS AGENT STRATEGY

The Short Sale sellers agent should look for an offer the bank will accept. If your offer is too low, then s/he may advise the seller to counter or reject it.

S/he may reject it and lower the price on a regular basis until an offer comes in at the listed price. Now the MLS history shows that it required lowering the price on a regular basis to finally get an offer at this price. The negotiator is more apt to accept this offer.

If the agent sent in the same offer 4 weeks earlier without having a listing history, the bank would probably reject it.

Contact Captain Bill Travis for more information on homes for sale in Val Vista Lakes, Gilbert and the east valley of Phoenix AZ

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My Alarm Clock Won't Turn Off

My Alarm Clock Won't Turn Off

Coquita

Our 18 month old Yorkie, Coquita, sleeps in our bed with us; although I believe she thinks that we sleep in her bed with her.

She has apparently determined that it's her duty to wake me up every morning at 5 am. Perhaps that's because I usually wake up at that time and she's learned the pattern. It isn't because she has to go outside, because sometimes I take her out and she doesn't have to go.

So every morning, around 5am, she crawls up to my head and begins to lick my hair; gently at first, but more aggressively if I don't move.

Then our ritual begins. As I raise up and sit on the side of the bed she runs and lays down beside my leg so I can rub her back and head. Then I go to the bath room and come back to take her outside. When I bring her back to bed she goes back to sleep, and I go to my office to work.

For the past two weeks I've been in broker classes that end at 10 pm. By the time I get home and ready for bed it's around 11 pm, and I need from 7 to 8 hours sleep. That means I should sleep until 6 or 7 am.

But Coquita doesn't see it that way. She is the self designated alarm clock and insists that I get up at 5 am.

So until the classes are over, I'll resign myself to the fact that I cannot turn my alarm clock off. I'll still get up at 5 am, when Coquita wakes me, do some work, and then go to the couch to take a nap.

Note: We keep her hair fairly short because of the AZ heat, but still long enough so she has benefit of the insulation. We don't attempt to keep her hair the length of Yorkie show dogs because it's too difficult to maintain. She's not a show dog anyway. She's a pet.

Contact Captain Bill Travis for more information on homes for sale in Val Vista Lakes, Gilbert and the east valley of Phoenix AZ

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Val Vista Lakes Gilbert AZ mid August Real Estate Report

Val Vista Lakes Gilbert AZ mid August Real Estate Report

Val Vista Lakes Gilbert AZ clubhouse

Val Vista Lakes is the premier lake and waterfront community in the East Valley Town of Gilbert AZ. The community consists of 1976 homes, which include condo's, town houses, and single family homes, all within 24 sub-communities.

There are also 581 apartments in Val Vista Lakes.

Val Vista Lakes residents have access to the spectacular $10,000,000 clubhouse with it's eight championship tennis courts, man made mountain, and the many other amenities.

  • Currently there is a total of 32 Homes for Sale in Val Vista Lakes; Up from 28 homes on July 31.
  • There are only 5 Bank Owned Homes for Sale; Up from 2 last month.
  • There are only 10 Short Sale Homes for Sale; Up from 8 last month
  • The other 14 Homes for Sale in Val Vista Lakes are regular sales.
  • There are 5 Short Sale sales under contract being negotiated with the lenders; Down from 8 on July 31
  • There are 6 Pending Sales under contract in escrow; Same as last month
  • There have been 50 Homes Sold and closed escrow so far this year.

Below you can search for homes for sale in Val Vista Lakes and the entire Phoenix area.

Contact Captain Bill Travis for more information on homes for sale in Val Vista Lakes, Gilbert and the east valley of Phoenix AZ

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Gilbert AZ Old Town video by Captain Bill Travis

Gilbert AZ Old Town video by Captain Bill Travis

Gilbert AZ Old Town Saloon

Gilbert AZ is a 90 year old, quiet family friendly Town of approximately 220,000 people, located in the East Valley of the Phoenix Metropolitan Area. The general boundaries are from Baseline Rd south to Hunt Highway; and from Power Rd west to McQueen.

However, the boundary line narrows as it proceeds to the south. Gilbert covers an area of 76 square miles

In 2010 Gilbert was reported by GreatSchools.org as the 36th Best Place to Live in the nation, and the Washington based C.Q. Press rated Gilbert as the "safest municipality in Arizona and 24th safest in the nation".

Old Town Gilbert is located on Gilbert Rd half way between Guadalupe and Elliot Rd. It is a collection of old style buildings housing a barber shop, several businesses, antique shop, saloon, furniture store and several very popular restaurants.

Water Tower Park is a 0.7 acre park for people to sit and relax. It was completed in 2009 and features the historic water tower, the restored first Gilbert jail, lighted water tower ground sprays with uplights, and a huge granite ball floating on a thin layer of water that turns as water drips from the Runnel above.Gilbert AZ Old Town Water Ball

Liberty Market is a relatively new restaurant owned by the owners of Joe's Real BBQ across the street, and features wireless Internet. Next door is the Farm House Restaurant which opens at 6am 'till about 2pm. Be prepared to wait, but the food is worth it if you like a hearty tasty breakfast.

Across the street is the famous brick building for Joe's Real BBQ where there is space for outside dining and a real John Deere tractor on the inside. There's a window on the side street for take out service.

Right down the street is Bergies Roast Coffee House. On the next corner is Oregano's, with plenty of benches outside to sit while waiting to be seated. There is also DaddyO's Patio, and let's not forget the Hale Theater that provides wonderful live stage theater performances.

There are many fine restaurants for dining in and around Gilbert AZ Old Town. You don't have to drive far to find interesting places. Stop in and try one of the restaurants in Old Town Gilbert for morning coffee, breakfast, lunch or dinner.

View Gilbert Community Videos by Captain Bill Travis

Contact Captain Bill Travis for information on homes for sale in Val Vista Lakes Gilbert AZ

HOW TO LAND A REALITY SHOW

HOW TO LAND A REALITY SHOW

  1. Do something stupid like letting an obnoxious passenger get under your skin
  2. Steal beer from the aircraft galley
  3. Deploy the aircraft emergency chute where it could kill a ground personnel. Anger

The song "Take This Job and Shove It" made famous by Johnny Paycheck didn't intend for people to go berserk and endanger lives.

JetBlue flight attendant Steven Slater faces up to seven years in jail if convicted of criminal mischief, reckless endangerment and trespassing, all because he "allegedly" overreacted to an obnoxious passenger.

I was an airline pilot for 35 years, 28 flying internationally for Pan Am, and I can attest to the fact that passengers have become increasingly rude and disrespectful. I see much more on flights today where I'm a passenger than when I was flying for Pan Am. That means FA's must exercise better control and maintain their cool.

Flight attendants must remain professional and not resort to the equivilant of "road rage" that we see today on our highways.

Today, the Captain cannot leave the cockpit to go back to control unruly passengers, but s/he can land and have the passenger arrested.

I had a few incidents where I had to go back and talk sternly to unruly passengers and let them know that I would not hesitate to land in a foreign country and have them arrested if they kept up their behavior.

One passenger moved up from Business Class to First Class to sit and talk to his friend. He refused to move back for the flight attendant. The FA called me. I came back and told him that his friend could go and sit with him in Business Class, but he could not stay in First Class.

He got smart with me and told me to go back and do my job; that he would go back after he finished his conversation.

I told him that if he is not out of the First Class section by the time I get to the cockpit door that he may as well stay there because he would be charged for a First Class ticket for the entire flight.

He elected to go back before I got to the cockpit door. handcuffed

Once there was a 21 year old kid who got drunk by ordering drinks from different flight attendants. When they discovered what he was doing they cut his drinks off.

He became belligerent and threatened one of my male flight attendants, yelling out a racial slur.

He was a big guy; obviously a weight lifter. I went back and we encircled him with three male flight attendants, myself, a deadheading pilot, and a secret weapon which is a great size equalizer.

We were prepared to cuff him to his seat if he fought with us.

He mouthed off to me, so I let him know very quickly that I would not put up with his crap and said if the flight attendants reported that he was misbehaving again that I would land in Gander and have him arrested. I warned him that being in a non-US jail is not a cake walk.

He behaved the rest of the flight, but we had the police meet him at the aircraft in New York and arrested him for threatening a flight crew member.

He needed a lesson, and got it.

Flight crews must act with authority, however, they must not go crazy and start swearing on the PA system and endangering someones life by deploying the emergency chute.

There is absolutely no excuse for that.

Slater is a 20-year veteran Flight Attendant; not a newbie.

And for a TV producer to glorify his actions and profit from his irresponsible and dangerous actions by offering him a Reality Show is unthinkable.

This guy who acted irrationally and very dangerously, is going to teach people "How to Quit Their Job"??? Any producer who would even suggest this guy for a show like that should be fired. Ask Donald Trump!!!

This video clip shows the aircraft at the gate, the chute deploys, with great force I might add, and a ground personnel walks over to see what's happening as Slater slides down the chute.

Contact Captain Bill Travis for more information on homes for sale in Val Vista Lakes, Gilbert and the east valley of Phoenix AZ

View Community Videos by Captain Bill Travis