Ok I have to rant on this for a second and would love everyone's feedback on any experiences you may have or insight.
I have been doing real estate for over 10 years so have been around the block a couple times.
I am so frustrated with short sales and the banks. The banks have 30 days supposedly to respond to offers however they are also the only ones that can tell you when they have received the offer. I have done many short sales now since the market has changed and have found on every transaction so far that the banks loose the files for as long as they want. I have fax cover pages confirming that the lien holder received the offer but when I call they say “we don't have it and we don't care what proof you have".
I have now defaulted to faxing and Fed Exing files (or requesting that the escrow or negotiators do this) simultaneously from the beginning. This way I have it in writing that they received it physically and electronically and do you think this helps???? Lol no.
I know so many agents that just refuse to show or list short sales for this reason along with the fact that the banks beat up the commissions, I don't blame them and starting to feel the same myself. Short sales are a lot of work on the agent’s part and tons of stress on the buyer. I am finding the average buyer does not have the tolerance to deal with the stresses of purchasing a short sale. So as agents are we doing our clients right by not showing certain homes????
I have a deal I am working on now that has three lien holders and we wrote the offer back in January and just now getting ready to close. We had approvals back months ago but not all of them and now that so much time has gone buy all the new approvals are 35K more money because our local market has recovered some. HOW IS THIS FAIR to the clients?
I hate to say it as I am one for less regulation than more but these slimy banks are still finding ways to hurt our markets and I feel bad for the poor sellers that have to deal with the stresses of loosing a home and having to deal with uncooperative lien holders.
If anyone starts a lawsuit please let me know the banks are just in the wrong in so many ways and need to be held accountable as right now they seem to act as if they are untouchable.
There needs to be some regulation put into place on the banks that they have to within 24 hours conferm that they have gotten offers and packets. Right now they can say we have not gotten whatever you have to send until they have time to deal with it.
Banks are givin 30 days to respond to an offer turned in but there is nothing that says they got it....and try telling the banks you have 10 fax cover sheets saying it was faxed.
Every deal I have worked on in the last year has had this one problem...along with millions more.
Todd Hueffed
Have you thought about moving or investing in real estate in Washington? I have been selling real estate for over 10 years in King and Snohomish County Washington and have never seen a better buyers market. Rates are at historical lows, and our local economy here is really pretty good and many of the large companies here are still hiring.
There is even talk about a housing shortage in the next 3 to 4 years here because our local economy has not taken the beating that most the states have but our real estate got pretty beat up because of the loss of sub prime mortgages and to be honest the media scared off many buyers. The baseline of home sales is new construction and with our market lull there has been little new construction or development of lots for new homes......so the theory is that we will see a housing shortage......and we all know what happens when supply cannot meet demand.
I also feel that our market has already seen its bottom and with the start of the new year I think we will see a surge of new buyers in the market place as almost every lender I know is getting more and more busy and not just with refinancing....
So if you have ever thought of moving to Snohomish or King County Washington or buying some rentals now just might be the time to take a look here......
If you have any relocation needs please feel free to contact myself and also click here for your free online relocation kit and I look forward to working with you soon.......
Todd Hueffed
www.ThatHomeZone.com in Partnership with Keller Williams North Seattle
425 220 2276 cell
Mail@ThatHomeZone.com
I have been working with the same lender for almost my whole career in real estate and has been a huge influence on my business www.ThatHomeZone.com and think that he walks on water.....he has started his own office in Snohomish County Washington and is looking for a few loan officers that would like to work from his office. The office is in Mountlake Terrace Washington and is very nice....he also provides leads to his officers and would be a great person to work with. He has training and just a great person to help maybe take your business to the next level.....
If anyone is interested in making more money in this slower market please E Mail Myself and I will make an introduction
Wishing you Health and Wealth
Todd Hueffed
www.ThatHomeZone.com in partnership with Keller Williams North Seattle
Buying or selling a home isn’t something you rush into, it is a major transaction that requires forethought, patience and knowledge. It is my desire to exceed your expectations and gain your trust.
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Please visit my informative web site
www.ThatHomeZone.com
Take the first step and give me a call today at
425 220 2276
Or e mail me at
Mail@ThatHomeZone.com
Here is some valuable buyer Information courtesy of www.ThatHomeZone.com
I recently had a potential client ask these questions to myself and thought that "wow" more people should ask these questions. I decided that these were so good that I now forward these all onto everyone with my answers.
1. What makes you different?I am different because I run my business from an informational standpoint. My clients are some of the most informed and educated clients on the planet because I coach them the entire time from the start of a transaction to the very end. 2. Why should I list my home with you? You should list with me because I have the very best pricing for a full service, full time agent. 3. What is your company’s track record and reputation in the market place? I believe that this is a hard question because I have no bias towards any one real estate company however, I have been in several offices over my years in real estate and I have found both really good agents at each office and I have also found agents that really should not be practicing real estate. I would be looking for an agent not a brand name that I trust whole-heartedly and one that I feel would do their very best job under all circumstances. 4. What are your marketing plans for my home? Each home requires different marketing plans however; in my market area I have one of the most aggressive marketing plans available. I do all the things that every other agent will tell you that they do however I go above and beyond that! I do all of this in an effort to save you the 2% listing commission (see listing commission) 5. What has your company sold in my area? This may not be the answer that you are looking for. However, this is a hard question to answer. Real estate agents are independent contractors, so it is difficult to compare types of services or sales statistics by any one office. 6. Does your Broker control your advertising or do you? My Broker does not control my advertising. Keller Williams is agent owned and that is why we are the fastest growing real estate company in the USA. This is also why you do not see a lot of our signs around when you are shopping for a home, as the agents that work at Keller Williams own their own business. We have a free range to advertise ourselves. 7. On average, when your listings sell, how close is the selling price to the asking price? Over the past year, it has been a sellers market so listings are selling for at least the asking price or better. However, again this depends on the agent and how well they are at pricing homes. I have seen home prices drop recently but it is because the agent did not know at what price point they should list their client’s house. 8. How many Buyers are you currently working with? I mostly work with sellers only; buyers are by referral only or sellers that are looking for a home after there property has already sold. Listings are a full time job and you really have to be in the office networking, and doing marketing every day. With that said however, it is important for a listing agent like myself to work with buyers now and again to keep my finger on the pulse of the market. 9. Do you have a reference list of clients I could contact?Yes I do have a reference list of clients and I encourage you to contact them. 10. What happens if I’m not happy with the job you are doing to get my home sold? If you are not happy with the job that I am doing then I encourage you to tell me. At that point I would release your listing. I do not want a listing that does not want me. Marketing Services Marketing homes in your neighborhood is my specialty! For the past 7 years I have helped homeowners market their homes at the best possible price with a minimum of inconvenience to their families. Along the way, I've experienced a multitude of contacts with buyers, mortgage loan officers, attorneys, surveyors, taxing authorities, bankers, and other real estate related individuals. Those contacts add up to experience and expertise which can prove invaluable to you as a homeowner. I have a very aggressive marketing plan at very affordable price. My listing fee is 5% I keep 2% for my costs and give 3% to buyers agents to sell your property, however if I am able to capture the buyer myself through my extensive and aggressive marketing plan I will give the seller back there 2% and keep 3% as my fee. Think about it unparalleled service at the best price. If you are planning to sell your home soon, why not invite me to share my experience and knowledge with you? I will give you my thoughts on developing a marketing plan for your home and answer other questions you may have. Please visit my informative web site Take the first step and give me a call today at Or e mail me at
www.ThatHomeZone.com
425 220 2276
Todd@ThatHomeZone.com
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