IF I CHOOSE BANKRUPTCY, DOES THAT MEAN I SHOULDN'T CONSIDER A SHORT SALE? While I believe this a question for someone's attorney, I believe that the answer is very often going to be yes. I have lately been listing homes for clients that have come out of bankruptcy and decided to sell their homes through a short sale. The reasons vary but mainly they came to the conclusion with the advice of Continue Reading
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Old Fashioned Real Estate Sales
OLD FASHIONED REAL ESTATE SALES I am between visitors at an open house. I am reminded that Real Estate is still a service industry. As Realtors we must remember that just because it's a short sale or an REO doesn't mean we should give any less service. I attended a Town Hall meeting recently and people are very concerned about selling their homes in this market. They have been besieged with all Continue Reading
HAFA “Guidelines”
HAFA "GUIDELINES" Please remember that HAFA is a comprensive set of "Guidelines". It is not law. The guidelines are not intended to be a one size fits all either. Each servicer (bank, lender) is currently employing their own version of HAFA. Some have not implemented their own guidlines yet and some are well down the road already. The important facts to remember as a homeowner are that HAFA: Continue Reading
Are Short Sales Becoming a Way of Life?
As a Realtor here in Las Vegas, it occurs to me that Short Sales will be a part of our market for a long time to come. Better than 65% of homeowners here in the valley are at a negative equity position in their home and they will be in a situation sometime in the next few years that they will need to sell their home. That means they will either need to write a substantial check upon selling Continue Reading
Adding Insult to Injury: The Short Sale That Wouldn’t Go Away!
Today I find myself writing this blog to relieve the stress of dealing with a bank on a short sale. Now I believe that just about everyone understands that Short Sales are difficult. They are difficult on sellers, buyers and agents. This short sale however is not only difficult, it just won't go away. In May of last year we took a listing. It was a short sale and the owner was very concerned Continue Reading
How to Buy A Foreclosed Home In The Las Vegas Valley
Buying a Foreclosed Home in Las Vegas In working with buyers in the Las Vegas market I have found that we must employ specific strategies to actually get our buyer's offer accepted. Many buyers have to learn these strategies the hard way by trial and error. They usually would like to take a position of offering the bank a substantially lower offer than list price with the hope it will be Continue Reading