Long Island Real Estate Appraisers

Topic Page | Short Sales

Sometimes a Short Sale Pays

short-sale-exchange

Many lenders are beginning to realize that it makes far more sense to allow a Shortsale and even to pay for one. One case of such a payment occurred to an Illinois homeowner who fell on hard times. Chase gave him a $20K for his troubles. This makes sense as a straight foreclosure will generally […]

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November 16, 2011

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Mortgages, Short Sales

Why Not? Because a Price Tag Makes Too Much Sense

house-with-for-sale-tag

Congresswoman Susan Davis from San Diego recently introduced a bill into congress that requires trust deed holders to provide homeowners who attempting a short sale the “drop dead” price acceptable for approval. Finally, I am witness to a bill that needs no compromise discussions and should not really be subject to a debate. After all, […]

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Agents Learning New Skill Sets

cash-for-keys

I have always said that the key to maintaining relevance and being viable in a market is the ability to adapt and learn new skill sets. Lately, real estate agents are becoming quite adept at assisting in the clearance of non performing mortgages. Part of those skill sets are learning all of the facets of […]

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November 3, 2011

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Short Sales

Standing Still Swells Stress

inaction-to-action

There is a lot of talk about short sales these days. In fact short sales accounted for more than 40% of all sales made in the third quarter of 2011. The question is, when is it right for you to do a short sale? I am a huge proponent of constraints theory, which I won’t […]

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October 19, 2011

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Foreclosures, Short Sales

A Rational Approach to Foreclosure

foreclosure-sign

In order to clear inventories from their books, banks are quietly offering incentives to buyers who would be willing to relocate or simply move out of their homes to facilitate a short sale. There are sporadic reports of some people being offered as much as $20,000 to move out of their homes.  But these are […]

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The Long Haul of a Short Sale

short-sale-road-sign

Short sales were up on average at a full 12% of all home sales in the United States according to a new report from Realty Trac. According the report, short sales on average increased 10% from the same amount last year. In California, short sales came in at  a whopping 25% of all home sales […]

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Is Your Short Sale Going Long? It’s Complicated

winding-road

Buying a short-sale home is taking just as long as ever, despite promises by banks and lenders to streamline the process. Many times, banks just don’t respond to offers. If the property has more than one loan on it or a second lienholder, the process can get very sticky very quickly. Sellers have to submit […]

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There Is a Lot of Heat Under an Election Spotlight

debate

The sale of new homes is on the decline for the third straight month as of July 2011.  But it is not only the sale of new homes that is falling, sales of existing homes are also down. Although the housing market is only about 1/5 of the economy, it has a big impact because […]

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The Common Sense of Unresponsiveness

tortoise-in-its-shell

There is an old adage that has never lost its luster.  “Buy when there’s blood in the streets” has served many investors quite well. And those buyers who have a job and have good credit are now following this mantra and buying homes. The short sale market surged and was reflected in recent housing numbers […]

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To Short Sell or Not To Short Sell? That is The Question

short-sale-keys-for-cash

At least two of the largest US banks are emerging from the shell shock of the housing collapse. Wells Fargo and JP Morgan have begun to bite the bullet and move more of their bloated home inventories through short sales, rather than deal with the expense of a foreclosure proceeding. JP Morgan claims that they […]

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