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Short Sale Power Hour

Coach has been tugging at Kevin and Fred about teaching a particular lecture from the Blue Book. We have never brought the Blue Book out previously. We have spoken about lots of things from the Red Book. Nevertheless, today is about the Blue Book and a company intervention to help you complete more short sales.

Doubt and depression can shatter your will in business dealings. From time to time a bank is difficult to work with and you start to doubt whether a short sale can be closed. You can not underestimate the control of doubt to keep you from accomplishing your goals in the short sale industry or becoming your greatest. This is precisely what happens with some professionals that carry out short sales. They doubt their capacity, the probability and the possibility of succeeding. Possibility is such a dangerous place to go.

There

Short Sale Power Hour

Kevin and Fred, the leaders of Group 46:10, Arizona’s premier short sale squad, are chatting today about pricing and listing. Before you shut the video off since you already understand how to list and price, hear them out. Depending on your market, you may not be experiencing the similar stuff as Kevin and Fred are in Peoria. As many of you know, the deadline for taking advantage of the tax credit has passed. What we are seeing right now in the market is a little bit less motivation from home buyers and house owners. The supply is starting to grow and that usually leads to prices going down. When you notice that trend, you tend to have more disagreements with banks concerning the value of homes.

There are several of the similar challenges in 2010 that we had in 2008. Banks love to look

Short Sale Power Hour

Kevin and Fred have a special message today. In discussing what the theme of today’s episode would be, they decided that it was time to tackle the things that occur in a short sale deal that don’t make any sense. Reason and common sense can be thrown out the window in a short sale. Numerous times Kevin and Fred find themselves saying “why is the bank doing that?” There are so many examples of positions that cause you to ask that precise question.

A lending institution is apparently anything but rational. Banks charging a fee to put money in an account are not logical. Taking a loan from a bank for $200,000 and then agreeing to repay them $100,000 isn’t logical either. The entire short sale process is not logical. Acknowledge that idea first, and you will be one step ahead of everyone else.

To

A mortgage short sale works when a home owner in Casa grande, Arizona owes more debt on a house than the market value of the home. A home owner that qualifies for a mortgage short sale owes more than the home is worth. The lender of the property will agree to forget the difference of the two. For example; you owe $250,000 and the value of your property is $140,000. In a mortgage short sale, the lender will forgive the $110, 000 difference.

The mortgage short sale takes more time than a traditional house sale will take in Paradise valley, AZ. The house owner, with the help of a real estate broker that deals with mortgage short sale, will need to find a buyer. This is crucial because the bank will get the house back if a mortgage short sale does not work. When the procedure starts, the bank will negotiate

The wishful outcome in any real estate deal is the capacity to sell the house for a higher price than what you paid for the house. This usually includes, for house investors, any and all moneys that were used to repair the dwelling, add on to the home and modify the house. Nevertheless, with present market situations in Queen Creek, AZ, this one time sure outcome is now often times only wishful thinking. Real estate investors and home owners alike are seeing true and tragic downturns in property values in Queen Creek, Arizona across the region and the country. If you are one of the ill-fated people that finds themselves in this quandary, making a profit is virtually impossible. When the property value of your home decreases and is well below the value of your mortgage, you need to consider short selling the property to evade a dramatic loss.

Short selling

My First Short Sale

Kevin Kauffman and Fred Weaver of Group 4610 are  Arizona’s premier short sale squad. For house owners  out there that are searching for short sale guidance,  Fred and Kevin are the ones to pay attention to. They  have closed more short sales than anyone in the  state of Arizona and expend a great deal of their  time enlightening other real estate agents on how to  accomplish and complete short sale transactions.
The purpose of this video blog and the videos to  follow is very particular. Kevin and Fred desire to help  instruct the public, helping them make more sense of  the information out there.
We trust that as you view these video blogs you can  receive some quality information on short sale  transactions. Because they are basically unknown to  the majority of house owners, short sale transactions  can occasionally be frightening.

Short Sale Power Hour

The focus of shortsalepower.com over the past few days has been on how a variety of lenders are working short sales. We talked about OCWEN and how they desire to lose money instead of executing short sales. We also talked about Bank of America and their effort to remedy shortfalls in their short sale procedure. Today, we’d like to go back to the well and talk about another bank, ING.

We are currently working on a short sale with ING and have received some interesting news from them. Firstly, they have declared that the home owner in this particular short sale needs to sign a promissary note for the residual deficiency balance in order to close the short sale. So, logically, we resolved to escalate to the executives at ING. There reply was both baffling and interesting.

First of all, they declared that ING only

Short Sale Power Hour

Group 4610 is coming to you direct from Mission Beach in San Diego. In California for a team building affair, kevin and Fred are still committed to bringing you information concerning short sales.
Fred was reading an appealing item the other day that he would love to share various thoughts about. The piece was about Citibank and the CEO of Citi Mortgage. He predicts that the foreclosure problem will keep increasing in the next 16 to eighteen months. So, tactically, Citi is attempting to live ahead of the curve. Mull it over. If they forecast that the next year and a half will bring a lot of foreclosures and financial hardships, the realism is in all probability nearer to 2 years or 2 and a half years. Essentially, you need to recognize that short sales are not going away any time soon.

Buyers in the housing market in Phoenix, Arizona are seeing countless more properties for sale nowadays with unique conditions like REO, foreclosure, foreclosure short sale, and others. All these special conditions have something to do with a bank, but we will clarify each briefly below:

-bank Owner – the lender has taken ownership of the property and the bank is a seller. Not as good for the buyer as a foreclosure short sale.

-REO – a great deal the same as a lender owned home

-Business Owned – Also like a lender owned house, but the corporation that owns it is set up differently than a bank.

-Foreclosure – This procedure is also not as helpful as a foreclosure short sale.  The lien holder has acquired the home through a court proceeding.  Every state does this a bit differently.  It can take quite a few months or years to acquire a house that is

Short Sale Power Hour

The issue of the day revolves around the significance of the first thirty days. As we’ve acknowledged already, short sales are won or lost in the first 30 days. It is simply not reasonable to think that you can keep a purchaser in a transaction for six months. It just will not happen. That is why getting stuff done as quickly as possible is significant.
To be frank, a short sale could be finished in 3 days if the banks had a structure in place to deal with short sales. Keep in mind that if you show the lender that there is an importance to complete a short sale, they will comprehend that you may eventually escalate the process and operate in a more timely manner. However, it is important to note that people inside the lender dealing with your records are