Jimmy Mulhern

It happened over night...at least in our area. Almost every listing that our buyers are interested in has multiple offers already on the property. Listings we are placing on the market are receiving 3-4 offers in the first weekend. What is all this nonsense about declining sales numbers?

It concerns me because this was what happened at the beginning of the last housing boom. The idea is that multiple offers present a market value for the home - but the last time around, the banks poor lending patterns were inflating the money available. Last time we had to deal with resetting mortgage rates - this time we have to worry about job loss or lack of income. What can we do?

Well it is quite clear to me...this is one of the greatest opportunities you will ever see to move up or to start creating a wealth cycle in real estate. Homes that are priced correctly will sell immediately. Homeowners who have equity in their home and are looking to move up are finding deals that would have cost them double two years ago. First Time Home Buyers are having to fight with Investors, but the opportunity to start building a wealth cycle are there. I am not ready to declare that we are on an upward trend in housing prices...but I am saying that the list prices of homes are not what they are selling for. The problem is not all appraisers are accepting that homes are selling for more than their list price. Can we remove the declining market tag please?

If marketed properly, a home in the Virginia side of the DC market will sell quickly right now. This time around, can we please keep our heads and not chase after homes just to say we bought one? We wrote a contract on a home last Thursday and I spoke to the agent yesterday - they received 15 contracts on the home...15! So we will have 1 winner and 14 losers who will now overpay on their next contract. This is a prime opportunity for any homeowner who is willing to list their home at the right price!

Jimmy Mulhern

http://www.HomesInVirginia.net

Over 1.9 Million homeowners are facing some form of distress in their current property. Distress comes in many forms, and it isn't limited to owners who simply took loans they should not have been given in the first place. Many people facing foreclosure have had outside forces impact their financial status and are stuck with a home that is worth less than what they owe on it. There are options, and there are people who can help!

It can be scary, and it can feel like there is no solution to the problem. But you can not give up. I chose to get my CDPE certification after a good friend of mine came to me in despair. He was getting divorced, and they owed over $100,000 more on their home than it was worth. Neither he or his wife could afford the home by themselves, and their attorneys had recommended letting the home go into foreclosure. He came to me for help...and I could not help him! I was advised by attorneys that his best option was foreclosure. At that moment, I knew something was wrong with this scenario, and I was going to change what was happening in the market place. That is why I chose to become a CDPE - the new industry standard for agents who want to help homeowners avoid foreclosure. Never again will I not have the right answers.

The CDPE program taught me the correct way to negotiate a short sale. You have to remember, foreclosure is like a clock and the day of filing is when the timer starts. You have to make sure that there is a correct plan in place so that as the time winds down, the solution is attainable. The problem with short sales is not getting the contract, it is getting the contract that the bank will accept. Too many homes are placed on the market at prices that are under valued just to get something to submit to the bank - THAT IS THE ABSOLUTE WORST THING YOU CAN DO! You have to show the bank that you tried to get market value and document your listing.

It is frustrating...if you do not know what you are doing. If you are having trouble or know someone who needs help, do not hesitate to call us. Don't give up - we can help.

Jimmy Mulhern - CDPE

HTTP://www.HomesInVirginia.net (571)247-1638

NEVER NEVER NEVER Pay for someones services. There are a lot of scams going around now where you pay money up front to have a settlement negotiated - We are focused on helping you with your problem, not profiting from your troubles.