Julie Press-Raese, LLC Realtor, ARB, CRS, GRI

So here's the question? Can you get a better deal on a "short sale" or on a REO property?

The difference is a short sale has not been aquired by the lender yet. The lender is agreeing to

take a lesser amount of money to allow it to close and not get it back. An REO property has

been taken back by the lender and is now owned by the bank.

I am working on three homes right now that are short sale properties. They are getting to be

very common. After talking with one of the lenders, I'm finding they are looking for an offer

of 80 to 90% of a current appraised value. That seems to be a good deal to me. If you

go for a short sale there is additional time spent waiting for the approval of the lender.

In an REO property, there is not too much of a wait for an answer on an offer. So my question is:

Is it a better deal to buy an REO property or a short sale property? I'd like to hear your thoughts?

I found a great video yesterday on You Tube from the CEO of Coldwell Banker. It's a very good

video on the dangers of flipping and why home ownership is a long term investment.

It's worth your viewing if you're thinking of buying a residence, investment or thinking of flipping!

http://www.youtube.com/watch?v=A-rnExtJg6k

Another reason why having a good REALTOR and lender on your side will make the difference!

Today while driving to my Mom's house I saw at least four SOLD signs. I am so happy to see that! It

must mean that Spring is coming soon. The temp is perfect and I even am walking barefoot for the

first time in 6 months!

Last night while relaxing, a young girl came to my door all by herself. She had an empty jar and asked

for spare change to help children with no schools. It gave her a big handful and thought...what a

nice thing for a child to do.

Lastly, a video that I'd like to share that makes me cry every time I watch.

http://www.youtube.com/watch?v=cZtU676jA_k

If you feel like you are having a bad day, please watch the above video. I guarantee it will uplift

your mood and soul. There are good things happening around us...you just have to look for them!

It's going to be a great week...I can already feel it!

I just read a great book! It's the Energy Bus by Jon Gordon. It's one of those self improvement books

that we should read over and over. I found this book to be a great need in this time of a crazy economy.

I invite you to read this book. I believe it will benefit anyone who reads it.

I want to really use it's principals!

So here we go!

THINK BIG! Because every journey begins with the desire to go somewhere and do something!

TRUST Allows you to navigate the potholes and roadblocks on your journey!

THINK POSITIVE! Because thoughts are the steering wheels that moves my bus in the right direction!

PURPOSE The ultimate fuel for a meaningful journey!

PERSISTENCE Moves you forward towards your destination!

LOVE YOUR PASSENGERS!

DRIVE WITH JOY!

BELIEVE! If you have the desire, you also have the power to make it happen!

SMILE! It keeps the energy vampires away!

ENJOY THE RIDE! Because you only have one!

THE GOAL IN LIFE IS TO LIVE YOUNG, HAVE FUN AND ARRIVE AT YOUR FINAL DESTINATION AS LATE AS

POSSIBLE WITH A SMILE ON YOUR FACE!!

Yesterday I went on a listing appointment to consult with potential sellers who live in a great home,

in a great neighborhood. In normal times, this would be a great listing!

This seller, though, has not owned their home more than 3 years and bought at the top of the market.

The current market is not going to equal what they paid for their home 3 years ago. We then shifted

to what kind of options they have at this time to meet their current housing needs.

Each seller has different needs at this time. It's just very important to sit down and go through all of

them.

We talked about the potential of them renting their home for awhile. We talked about what the current

market value is and how much money they'd be willing to loose at this point.

In the end, I may not get this great home listed...but that's OK! Why? Because it's what's best for them.

I also helped a buyer who just came to town find a home to rent for a year! Why? Because it was the

best thing for her. I found homes that are currently listed that potential sellers would be OK with renting

for a year and taking that home off the market. We only went out looking one afternoon. She found

a great home to rent for a year! She and the seller are happy. Why? Because it was the best thing

for both parties.

These are crazy times. Our job is to act responsibly on behalf of the people we come in contact with!

It's not about me! It's about the people I help.