Today I received this email from Bank of America. Can't remember when I have been happier.

Message Inserted (06/02/2011 04:29 PM) On:

241 E MAIN BH, BERGENFIELD NJ.

Message Inserted (06/02/2011 04:29 PM) On:

241 E MAIN BH, BERGENFIELD NJ 07621.

Hello,

Thank you for your assistance in completing the current short sale. I was able to verify the documents and process the wire. We at Bank of America look forward to working with you in the future. Thank you for being a valued business partner!

Definitely can't take all the credit on this one. Sheldon Neal (also a RE/MAX agent and large contributer here on Active Rain) had the buyer and kept them interested in the property longer than most agents could have. This Bergen County Short sale was a very challenging transaction from start to finish. When there are good people working all around SHORT SALES CLOSE.

Selling Real Estate is easy, it comes down to one simple question for the seller. Do you want to sell or do you want to stay? Every Bergen county home sells, either to a buyer who has the money to purchase it or to the seller who believes that their home is worth more than the market will bear. When the property is sold to a willing buyer a transaction happens. When the property is sold to the seller, nothing happens.

What type of seller do you want to be?

The Seller who wants to sell

This seller realizes that this is a very challenging market. The educated seller has chosen to work with a Realtor. They understand the value of having a seasoned professional in their corner. They have done everything that they can to make their home more marketable. This seller has realistic expectations and wants to maximize what they receive for their property. They have carefully looked at supporting values in their neighborhood. More importantly, they understand the trend line. This seller has a good understanding of what their home is worth today and more importantly what their home will be worth in the next few months. This seller makes it easy for agents to show their property to prospective buyers. Wanting the most money for their home is a constant in any market. This seller wants to sell!

The Seller who wants to stay

The seller who wants to stay will look at what homes have sold for in the distant past. They will recall that a neighbor across the street sold their Bergen County home for a lot of money five years ago and will want to get that amount for their home because their home is nicer. This type of seller may or may not employ the services of a Realtor. They will probably try to sell as an unrepresented seller to "save" money. They will make comments like, "we aren't in any rush to sell" or "I'm not giving my home away". When it comes to setting up showings, this seller will typically give a small window of time to set up the showing. Typically they will need to be present at each and every showing. Despite working full time, they have decided to add Real Estate Salesperson to their resume. The seller who wants to stay is usually very selfish. This seller will be insulted if an offer comes in at anything under the asking price. They honestly believe that the market will bounce back and they will get more money next year. This seller wants to stay.

How bad attitudes affect the real estate market?

Currently, there are many homes available. Imagine with me for a second that all the sellers who truly don't want to sell had their homes removed from the market. We could clear up a good percentage of the inventory. There would be less homes available and the sellers who are left would really want to sell their homes. Personally I have seen these sellers who want to stay (and not sell) clog up the market. Their home has a clear value. Typically $50,000 to $75,000 less than they are willing to accept. The seller is committed to staying if they don't get their price. The home stays on the market, then expires, never once engaging the market.

Why people sell.

People sell in all markets. People buy in all markets. Don't forget that simple truth. While it may be challenging to get homes sold in this market, it is not impossible. People sell for a variety of reasons. They may be looking for a bigger or smaller home. Perhaps they are sick of taking care of a large yard and want to move to a condo. Some folks can't afford the home that they are in. People are still relocating into and out of New Jersey. Some are ready to retire and move to a warmer climate. As children grow up and move out, people don't need a large home. When the time is right for you to sell you will know it. Before even thinking of putting your home on the market, make sure that you are committed to selling. Be the seller who wants to sell. Otherwise you are setting yourself up for a lot of inconvenience and heartache.

Dear Representatives in Washington,

Get it together! I'm working with a few folks scheduled to close on FHA loans and I'm sure a work stoppage by the government will not make matters any better. Also have government employees who are transferring to my area and a work furlough is not something they are looking forward to.

The real estate market is local! Do what you have to do so these FHA loans will close on time over the next few weeks. Please don't screw up my local market. It is hard enough working with all the Bergen County Short Sales.

Thanks for your time and attention.

Hard working Realtor,

Sal Poliandro

September is here, the yellow school buses are on the road and the recreational football season is under way. As the leaves begin to change color it is a good time to think about Real Estate. Here are some areas and some questions to get the process started. The F's that we will be talking about this month are Finances and Fitness.

Finances

Do you have a budget?

Most folks don't have one written out. Everyone has expenses and bills. The idea of a budget is to have you put on paper all of your income and expenses. This way you can spend your money on paper and on purpose. Unfortunately, most folks don't do either. Remember, ignoring something will not make it go away. When you have a budget, you can spend your money on what you feel is most important. When you don't have a budget, you may find yourself spending money on things that you can't even remember.

First, make a budget. There are plenty of free websites that will help you. www.DaveRamsey.com has some great free tools.

Second, stick to it. In this economy, everyone has had to tighten their belts. Numbers don't lie, you may be surprised at what you don't need to spend your money on.

Whatever your financial situation, don't be disheartened. Sometimes putting all this information on paper seems overwhelming. If you are spending more than you are bringing in something needs to change. Spending that is out of control can lead to financial ruin.

In our practice we meet many families that have had their financial situation change on them. Perhaps they bought a home a couple of years ago (at the peak of the Real Estate Market). Both spouses were working and they had their budget under control. Through no fault of their own, one of the spouses got laid off and now is unable to secure work. Losing 50% of your income can cause a budget to be turned on its head. For a few months they get by on savings, then by borrowing from credit cards, eventually they can't find anyone else to borrow from, so they begin to miss their mortgage payment. At this point people are typically going through a multitude of emotions... denial, fear, anger and shame (to name a few). Don't go through this alone. Get in touch with professionals who can help you.

When the above situation goes on long enough, it becomes harder and harder to dig out from the hole that you are in. Selling your home may be an option. You will need to do whatever it takes to right your financial ship. There are many concerns that people have in this current market.

1. We owe more than our home is worth, we can't sell.
2. We have no money to pay a Realtor.
3. The market is terrible and it is impossible to sell. (We have a friend who has had their place on the market for over a year and can't sell).

All of the above concerns are not necessarily true. We have helped many homeowners who have been in this situation successfully sell their home.

Fitness

How do you feel about how you look? Could you stand to lose a few pounds? Making time to eat right and exercise is as important as anything else that you will do. Eating right and exercising will also give you more energy. Everyone could use a little more of that. Set some attainable goals to get moving in the right direction. If you aren't doing anything now, start with eating three meals a day and going for a short walk each day. Something is better than doing nothing. Remember, exercise is also a great way to relieve stress!