Gloria Price

Kelly Willey and Gloria Price are your Woods at Forest Glen experts. The Woods at Forest Glen, is a relatively small community, located in Forest Hill, Md. 21050. Built in the late 1990's and early 2000's by Barry Andrews Company, it consists of single family homes from 2400-4000 square foot.

The Woods at Forest Glen offers the convenience of schools, libraries, shopping, APG, and Baltimore. When thinking about buying or selling in The Woods at Forest Glen, call Kelly Willey or Gloria Price

Kelly & Gloria

410-879-8080

A few weeks ago, I attended a short sale class for continuing education through my office. Short Sales are a hot commodity nowadays, and just a few short years ago, no one had ever heard of them.

First, what is a short sale, exactly??? A short sale occurs whenever a home is sold, or transferred ownership, and the sellers current mortgage company accepts less that what is actually owed on the property.

There are quite a few active short sales in my local MLS right now, and I am not sure if the average consumer is actually aware of the future repercussions of selling their home at short sale. Probably because experts themselves are not even aware of the future repercussions of what a short sale will do to your credit report in the future.

Legally, lenders have the right to attach a judgement to the deficit owed after the fact of a short sale. It is not reported that any lenders are actually doing this, or have done this, but it can happen! Why aren't banks doing this now? Please share your opinion? Do you feel as if these lenders should go after these sellers to get what is rightfully due to them?

It peaks my curiosity to think of the future in short sales. In five years what will be the standard of how they do affect your credit, and if these lenders will file judgments on these borrowers for the deficits created when their homes are sold at short sales.

My partner Kelly Willey, and I have experience and knowledge of short sales, yes it can be frustrating to work with these banks, and can yet have another unknown repercussion when working with them. You never know if you are going to get paid! The bank has the right to reduce the commission at it's own discretion, depending on the amount of the deficit of the loan, or honestly how they are feeling that day. Short Sales are tricky, do your homework!!

Gloria Price

www.harfordcountyhomesearch.org

Once again, I write a post about Gemcraft Buiders. Last year, I wrote a post about an experience I had with Gemcraft that was less than positive. Gemcraft is a relatively large buider here in Maryland, and have been labeled in the past by a few unhappy homeowners as Gemjunk.

An agent in my office, whomk I work closely with, told me he has a buyer interested in a Gemcraft home. Obviously, I told him about the negative experience I had with Gemcraft, and to make sure he is not cut out of his rightfully due commission. He took my words with a grain of salt.... Until, the same thing happened to him.

The agent took his client to the model home. After viewing the property, he left with his client to further discuss his interest in the home. The buyer was interested in the property, so the agent called the sales rep at Gemcraft to speak about writing an offer. They verbally discussed an agreement, and came to a mutual understanding of the terms of the contract including commission.

The morning of the meeting to write the offer, the agent called to confirm the appointment, and the sales rep then stated the commission would be cut drastically. Yes, in the State of Maryland a verbal contract is NOT enforceable. Yet, whe I personally give someone my word, it is good.

For a large company to go back on their word in my opinion is dispicable. THis is not the first time that Gemcraft has gone back on their word. In this market, these builders need agents. Honesty is key in this profession. It goes hand in hand with trust. Surely, Gemcraft cannot be trusted.

www.harfordcountyhomesearch.org