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Lynn Pineda-Coral Springs REALTOR, Short Sale Specialist

Thanks for calling me back so fast

I'm sure that a lot of you would agree on the importance of getting back to a customer, potential customer or business partner right away.

When I receive a call from a customer, I will return their call right away and I mean within 10 minutes unless there is something happening that it is just impossible for me to phone them back ... worse case scenario I get back to them within a few hours.

Oh, that pains me to even type it but I realize sometimes I just can't respond how I really ideally would like to. This even applies to my fellow Real Estate Associates. Even when an Agent leaves me a message for showing instructions when the Showing instructions are clearly marked on the MLS. So with this being my guiding way, it's no wonder that so many people often comment to me, "...thanks for calling me back so fast..."

Gosh, I thought we are in a people service business and doesn't that involve prompt communication? I'm amazed at the associates that I often leave a message for and their response time is very poor. Or better yet, those Agents who reach out to me for an offer on one of my listings and it takes several days for them to communicate with me for an offer; does the customer they're representing (Buyer) know that they are being represented in such a way? Is this why some succeed in Real Estate and others fail? I'd say it's a big part of ones success.

So the next time you receive a call, think twice before you delay the response particularly now in these tough economic times.

The more you know, the better prepared, the better the outcome.

I serve Coral Springs and the surrounding cities such as Coconut Creek, Parkland, Sunrise to Southwest Ranches in Broward and Dade and Palm Beach Counties of South Florida as your dedicated Realtor and CDPE Certified Distressed Property Expert ready to work for you. I'm looking forward to hearing from you soon. Please call me at 954-464-1100 or email me at: lynnp@ImagineYourHouse and it would be my pleasure to help you!

Learn more about me and Coral Springs Real Estate as your Coral Springs Realtor

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Short Sale Rumor Mill

Check the facts when it comes to Short Sales. A recent post by Wendy Rulnick, Seller ruins credit on False Short Sale Information, prompted this post by me as Wendy had described a horrible short sale story.

Whenever there is the misfortune of individuals, you'll have "helpers" running rampant and along with them are all the rumors. These "helpers" can come in the shape of individuals who think they're helping and really don't have any malicious intent and then there are "helpers" who see an individual weakened by an unfortunate circumstance and are going in for the jugular; the latter "helper" are the scum of the earth.

Check the facts. Don't believe everything you hear. Didn't we all learn that when we were growing up and later realized it to be true through our trials and errors? So why then do we forget this when we're experiencing stressful situations?

  • Only low income people qualify for a Short Sale - wrong
  • You must be unemployed to qualify for a Short Sale - wrong
  • You must be behind on your mortgage payments to qualify for a Short Sale - wrong, again
  • You must live in the property that you want to sell as a Short Sale - wrong
  • As a Seller I can never receive any money at closing - wrong. HUD pre foreclosue guidelines offer incentives to Sellers to avoid foreclosure. A Seller can get up to $750.
  • You must sell your home close to your mortgage balance - wrong
  • You must pay back the deficiency in a Short Sale - still wrong. This can be negotiated with Seller's Lender and many Lenders will not pursue.
  • You will always have to pay taxes on the deficiency in a Short Sale - wrong as this depends on the Sellers situation. As always recommended, check with your CPA who's knowledgeable in Short Sales as not all CPA's are up on this.
  • Any Real Estate Agent is qualified to list your home as a Short Sale - so wrong
  • It's too late to sell your home as a Short Sale once you've been delivered a notice of default- wrong
  • You can't sell your home when you have other Liens on it - wrong
  • Sellers must pay out of pocket for their closing costs - wrong
  • You must remain current on your HOA fees - wrong many Lenders will authorize to pay
  • Most Short Sales do not get approved to close - so so wrong. I have 100% approval.

So to reiterate the importance of getting the right answers to your questions, check the facts with a Realtor who knows how to process a Short Sale. Many claim to be experts yet all are not. Ask your Realtor questions and search them out on the Internet to find information on their expertise. This is critical and can make or break the success of avoiding foreclosure.

The more you know, the better prepared, the better the outcome.

I serve Coral Springs and the surrounding cities such as Coconut Creek, Parkland, Sunrise to Southwest Ranches in Broward and Dade and Palm Beach Counties of South Florida as your dedicated Realtor and CDPE Certified Distressed Property Expert ready to work for you. I'm looking forward to hearing from you soon. Please call me at 954-464-1100 or email me at: lynnp@ImagineYourHouse and it would be my pleasure to help you!

Learn more about me and Coral Springs Real Estate as your Coral Springs Realtor

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I love Short Sales - Yes you heard me right! Don't you love 'em?!

Loving life and Short Sales! Yes, you did hear me right.

Quite some time ago, I chose to focus on helping the distressed homeowner. I wanted my Real Estate career to really be about helping others as I've been so blessed in my life. At the time, people thought me to be crazy. They asked why would you want to devote so much of your time to such a tough task with no guarantees. And then when I said I would do the negotiations myself, people thought me to be even crazier! I really, truly had the passion for wanting to help others and I just knew I could do it with Short Sales. Much time has lapsed since my major decision was made and I have never regretted it for one second. And today, once again like so many times before, I've been reminded why I love Short Sales!

Last Friday, I closed on (3) Short Sales. It was a very emotional day for me. One Seller thanked me profusely over and over about how thankful she was for me and her eyes welled up with tears. The other two Sellers were out of town and I didn't get to experience face to face joy with them but their relief of now happily being homeless was just as satisfying to me. One family just days before had delivered their first child and now were so looking forward to their new life with one less worry. And my 3rd homeowner, told me that now because of me, they could move on with their lives and consider starting a family of their own and that I just can't imagine how grateful they are to me and they know that my persistence is what made it happen. Could you imagine the feeling of being told that something you did made a difference in someone's life?! I really can't even put it into words.

I tell you ..... there's nothing like it. I think I might be able to better understand the joy and complete satisfaction that a Doctor feels when he or she saves a life. My saving wasn't physical in nature but it goes a long way in the emotional well being of my customers. It's incredible. I count my blessing everyday. I also count my blessings from Active Rain because a great deal of my customers find me through Active Rain.

Just wanted to share my joy and let you know that Short Sales work and they do make a difference!

The more you know, the better prepared, the better the outcome.

I serve Coral Springs and the surrounding cities such as Coconut Creek, Parkland, Sunrise to Southwest Ranches in Broward and Dade and Palm Beach Counties of South Florida as your dedicated Realtor and CDPE Certified Distressed Property Expert ready to work for you. I'm looking forward to hearing from you soon. Please call me at 954-464-1100 or email me at: lynnp@ImagineYourHouse and it would be my pleasure to help you!

Learn more about me and Coral Springs Real Estate as your Coral Springs Realtor

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My Short Sale Seller got a check at closing!

I just closed on a HUD approved Short Sale. As part of its Pre Foreclosure Sale program, Sellers are entitled to an incentive to avoid foreclosure.

The max that they could have received was $750 as an incentive. However, there were costs on the settlement statement that weren't allowed totaling $570 so this reduced their max of $750 to $180. But, by all means, a distressed Seller definitely would be pleased to get a check at closing for $180. Especially when just a few days ago they had a baby. I was happy to be delivering additional good news that a check is in their name!

It's great to see that the industry is picking up on the benefits of avoiding foreclosure. So much so, that they're willing to pay a Seller to avoid it - get the Lender a Buyer and they'll pay the Seller. I'm hoping that more and more Lenders will see the light, move the Short Sale approval along quickly and stop the foreclosure - it's a good thing.

This was a Wells Fargo closing - Bravo!

The more you know, the better prepared, the better the outcome.

I serve Coral Springs and the surrounding cities such as Coconut Creek, Parkland, Sunrise to Southwest Ranches in Broward and Dade and Palm Beach Counties of South Florida as your dedicated Realtor and CDPE Certified Distressed Property Expert ready to work for you. I'm looking forward to hearing from you soon. Please call me at 954-464-1100 or email me at: lynnp@ImagineYourHouse and it would be my pleasure to help you!

Learn more about me and Coral Springs Real Estate as your Coral Springs Realtor

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One Seller, One Buyer, Short Sale approval and the kiss of death: an Appraisal

Most often we hear of difficulty in gaining a Short Sale approval from a Seller's Lender. That isn't the case for me as I've been very fortunate in getting my Short Sales approved; all of them. In fact, I'm working on one that has had the same One Buyer and has been approved two times and now I'm working on getting it approved for a third time. Yep, you heard correctly! How could that be or better yet why?

We call it the Kiss of death appraisal.

Here's the story:

My Seller's home was listed for sale and we received a nice offer from a Buyer. I negotiated the Short Sale with the Lender and it was approved! Yes, we're all happy! That was until the Buyer's Lender had their appraisal completed and it came in $20,000 below purchase price. So back I went to the Seller's Lender to fight for a new approval. All went well with negotiations and they approved the reduction in their payout. Yes, closing here we come.

My Seller moved out, found a new place to live and closing is a week and a half away or we thought it was. Now what? Well, the Buyer's Lender couldn't get the Buyers approved. So thank goodness to a dedicated Agent representing the Buyer and her knowledge of a Mortgage Broker capable of getting a loan for qualified Buyers, the Buyers switched Lenders with a week and a half to go to closing. Apparently, the original Mortgage Broker hadn't completed the loan package correctly and the Buyer's should have been easily approved. Are you ahead of me now, knowing what I'm going to tell you next?

If you're following me, the Mortgage Broker that saved the day to get the Buyer a quick approval had to do an appraisal as he couldn't use the other Lenders appraisal. Oh don't cover your eyes...it's coming around again....the new appraisal now came in another $9000 below the last and 2nd time approved price. Geeze!

So, now I'm working on negotiating a 3rd approval with my Seller's Lender and we're supposed to close this Friday!

Whether it's a Short Sale that you're working on or a regular transaction, it seems that appraisals are starting to have a big impact on closings. I'm seeing that Lenders are really putting pressure on appraisers to keep the values on the low side. I'm just hoping that the Appraisers are standing up and doing what's right - price it right!