Scott and I have written alot of offers on short sales, few of them result in a happy ending….. HOWEVER, I’ve had 3 of them break loose in the last 4 weeks. What exactly does that mean? It means that you can write an offer on a short sale and with some patience you have a better than 25% chance of getting the home! (with a reasonable offer of course).
Posts Tagged ‘Short Sales’
Wow! Short Sales are FINALLY breaking Loose!
Saturday, June 12th, 2010Typical Short Sale Story- Limbo for Buyer & Seller
Monday, February 1st, 2010
Yep, this is a typical story. It’s amazing! I am always explaining these types of stories to buyers but it’s so hard to believe that the process is this awful! There are “some” circumstances that will allow for a smoother process but in most cases your chances of pulling off a short sale are minimal. To make the short sale process worse, I frequently see listing agents that don’t know what they’re doing in a normal transaction let alone a short sale. IF YOU ARE SELLING SHORT, MAKE SURE YOUR LISTING AGENT IS A SEASONED SHORT SALE AGENT! Anyhow, take a read at the Oregonian’s “Short Sale Leaves Homebuyers, Sellers in Limbo” . -Kristie McD. Your Portland, Oregon Realtor!
Look at the price on that SHORT SALE! It’s too good to be true!
Sunday, December 13th, 2009
Yep! It probably is. Until an offer is received, the short sale process between the homeowner and the lender(s) cannot begin. In other words, the seller & listing agent need an offer, any offer, before they can turn in the initial packet required to get the process started. You are likely being used; they just want your offer.
Hey Short Sale Listing Agents Out There! HELP ME OUT would ya?
Tuesday, November 3rd, 2009
I find myself having to call the listing agents of short sales all the time with the same questions, over and over and over. Even the “famous” ones (well they are the worst actually) do little in their listings to help me out (or other real estate agents for that matter). Please short sale listing agents, note answers to the following in the agent remarks of your listings so I don’t have to bug you!!!!! Every short sale is different! (more…)
Oregon Senate Bill To Help Homeowners Facing Foreclosure…. okay….
Thursday, October 1st, 2009
Senate Bill 628 is congested with too many words for me to read thoroughly but it “sounds” like all it is is a law that says that lenders must send homeowners a notice of clear instructions on who and how to can contact someone via phone or in person to discuss whether they would qualify for a loan modification. (We know that few homeowners will have the opportunity to meet with someone in person)
First time home buyers; time is running out to get your tax credit!
Saturday, September 12th, 2009
So I was discussing with a client today when she should have a home picked out, negotiated and in escrow to ensure she gets the tax credit when I realized, we’re less than 3 weeks away from what I consider a safe bet, September 30th.
What we’re seeing: Market activity picking up, homes priced right are moving
Friday, May 29th, 2009We’re seeing lots of new activity in the market and RMLS’ posting of Oregon and Washington lockbox activity numbers shows the increased activity:
Short sales going away due to increased risk to seller?
Wednesday, May 27th, 2009With short sales the seller is already risking getting a 1099 for the difference of what they owed 
on the home and what it sold for after their “bank” approved the sale, this is known as phantom income. As such it’s standard practice for Realtors talking to a seller about selling short to advise them to speak to a CPA and/or real estate / tax attorney about the tax consequences before doing it…Well, it’s getting even more complicated now, apparently there’s a new trend of lenders beginning to require sellers to sign a note to repay that difference or they will not allow the sale; this is on top of the 1099.
Having to Sell Your Home Short? 7 Short Sale Legal Pitfalls
Saturday, April 11th, 2009
Frequently I find myself at a listing appointment and find that the homeowner owes the bank far more than what their home will sell for. If they are needing to sell because they can no longer afford the home, need to move, etc. they will likely fall into a short sale scenario. In many cases the homeowner will seek a second opinion, even a third or fourth. Unfortunately they may eventually find a Realtor that either doesn’t know better and takes an overpriced listing or “buys the listing” because they are hoping to generate new buyers/clients from the listing. Regardless, the homeowners can lose alot of time which is frequently the one thing they do not have.Looking for Bank Owned Real Estate? Ask Me to HOOK YOU UP w/a Report!
Wednesday, April 8th, 2009
If you are interested in seeing what bank owned properties are looking like out there, send me the area, zip code, school district, or whatever your area criteria is and I’ll shoot you off a report with pictures, addresses, etc…
SHORT SALES Is there still room to negotiate? How do I write my offer?
Monday, November 24th, 2008
The climate of short sales in real estate is changing all the time. You can usually count on a short sale home to be listed at a pretty great price, however many of our clients are asking “can I get an even better deal”? My answer (more…)
Short Sales & Bank Owned in Happy Valley Oregon
Saturday, September 20th, 2008
Both my husband and I are realtors specializing in the Happy Valley area… short sales and bank owned is a way of life on the grand “Hill of Views”. It’s no surprise the Happy Valley has established a reputation as Hill of McMansions, Short Sales and 1/2 built homes. They over developed, the economy turned, and now there are an abundance of great deals for those who are able to invest.
Good News? GREAT deals to be had. Anything around (more…)
Happy Valley – What is Up With Those Short Sales and Bank Owned Homes Anyway?
Monday, August 18th, 2008
Happy Valley (Clackamas area just outside of Portland, Oregon) has created quite a stir for those buyers looking for a lot of square footage, new construction, a great deal, and maybe a view. It wasn’t long ago before our real estate debacle that builders were racing to build extravagant homes on the grand hillsides…. Now, they are desperate to sell them. Happy Valley is now overwhelmed with bank owned homes, short sales, and homeowners trying to sell at the same discount prices as their neighbors; quite frankly it’s a mess. For the home buyer it’s a super clearance sale at Macy’s. (more…)