Short Sales are very complex and take everyone working together to finally get an approval from the Banks. To learn more about short sales you can go to our Short Sale Information Guide.
A trend has started to emerge within the Short Sales that we have been negotiating. The banks, for what ever reason, have denied several short sales due to lack of communication with the Owners.
If the owner has fallen behind on payments, the lender will often start collection calls – sometimes twice a day! Even after we have a buyer for the house and have submitted an offer to the lender, the calls keep coming in. The banks are so over capacity with short sale business, the different departments within the bank have no idea of what is happening in the other departments. Therefore, you can tell the collection agent that you have a short sale till you are blue in the face, but they will just call again tomorrow.
The owners, can’t blame them, get irritated and stop taking the collection calls. At some point in the process the negotiations start to happen, the short sale attorneys representing the seller are communicating with the lender, the listing agent is communicating with the lender, but the seller/owner has stopped communication due to the harassing collection calls. At that point, several sellers/owners have received rejection letters due to “lack of communication”.
This has happened with Wells Fargo’s short sale department….so far.
Short Sale Tip:As much of a pain as it is, take the collection calls and tell them, “I am short selling my home, I have a contract that we have submitted, we are waiting for your negotiator to give us an answer, are you the negotiator?”
Short Sale Tip Bonus: Send your bank a certified letter stating the above.
Short Sales are a mess, but they do serve a purpose. In this slow and messed up process with the banks, the more communication you can have with them, the better!
Jacksonville Short Sale Specialists – RE/MAX Agent
The chart below is courtesy of Zillow. It shows the current pricing trends in several areas of Jacksonville. The graph points towards a slowing in the price drops on homes for sale in our area.
In the past month there has been numerous real estate predictions from hundreds of sources. Economist, local papers, national papers, National Association of Realtors, local realtors, mortgage brokers, talk show host, etc. Just about everyone of them fall into one of 3 categories:
The Prices are going down
The Prices are stabilizing
The Prices are going up
I decided to unveil the Official Officer 2010 Real Estate Prediction:
Buyers will buy because they want a home. They will choose the best location that their money can buy. Their money will go further this year than last year and they will be happy with the purchase for many years to come. Sellers will be able to sell their home in 2010 – if it is priced competitively, in good condition, and has good curb appeal.
Not sure which one of the many predictions from so many sources will prove to be most accurate, however I’d bet I’m fairly close to #1.
Jacksonville Real Estate Agent – Jacksonville Homes
More news coming out on why this may be the bottom to the real estate market. I doubt we will see a spike back up any time soon, however we will all be glad if this is the bottom of price drops. Time will tell. Check out this video below from Yahoo Finance.
Reported this morning on a national news channel, only 5% of Americans are either in the market or about to be in the market to buy a home.
This number is low, but not surprising considering the current economy. The really good info was the demographic as they reported the MAJORITY of that 5% were under the age of 35. The “under 35″ category is made up of Gen-X and Y, and they believe the market has bottomed out and now is a great time to pick up good values.
Jacksonville home buyers support the national news report
The majority of homes that I have sold in the past few months were purchased by first time home buyers which supports the national trend as well. Not surprisingly, the homes that were neutral in color, very clean, with well manicured yards sell the fastest!
If you are a first time home buyer in Jacksonville Florida, contact us and we can help you find a great deal.
Need to sell? It’s time to get it on the market and get it sold! Contact us and we can walk you through the process to price it right and attract today’s buyer.
Need a Short Sale real estate agent in Jacksonville FL?
Why go through foreclosure if you can Short sale the home in Jacksonville? Wiki definition of short sale here. If you are underwater in Jacksonville, FL, here is the correct path to take if you have a hardship and need assistance:
Loan Modification: Not easily done these days as you have to have the ability to make the payments. The current white house administration has been very open about their level of irritation towards the mortgage companies. In their opinion, these loan mods should be much easier to get than they actually are. If you can get one, great! This is choice #1.
Short Sale: You must qualify, but this is option #2. The house is sold out on the open market for the going market value….which is typically much less than is owed. The lenders are much more open to taking a short sale in today’s market. The New York Times recently wrote an article on short sales. You need a real estate agent who does short sales in Jacksonville. I’m helping many home owners with short sales every day. Contact Brad for short sale assistance.
Deed in lieu of foreclosure: Option #3, happens if you can’t get it sold through a short sale process. You work with the bank for them to take back the home by you deeding it to them. The banks have been reluctant to go through with this as they would rather take their medicine by short sale.
Foreclosure: Your absolute last choice. If you start working with a short sale specialist soon enough, you should never get to this stage. The banks don’t want your home – they already have plenty.
Frequently asked Short Sale Question:
QUESTION: By far, the most frequently asked question, “When you help me do a short sale, how much does this cost me?”.
Answer: Zero out of your pocket for my services. There is a listing agreement to get the home on the market and a commission is paid once we find a buyer and close on the property. The commission is paid from the funds of the sale which reduces the amount the bank receives from the sale. You as the original owner, walk away with no money from the sale and no money out of pocket to pay any closing service or commissions.
Several short sale articles are below. If you find yourself facing foreclosure, consider the much better alternative of a short sale. It is a better option and much less hard on your credit score.
If you found this website through searching for waterfront homes in Jacksonville, the site most likely popped up on the first page of Google. This has not been easy! Anytime you hear someone say, “I’m putting together a website and we are doing keywords so it will pop up first on Google”, quietly laugh to yourself. It’s not that easy.
Through much study, collaboration with other realtors and companies around the country, and a very competitive drive, I have over the course of the better part of a year started to see page 1 more and more frequently.
Why is this important to you?
Waterfront Home Sellers
If you have a home to sell, a waterfront home in Jacksonville or Ponte Vedra, your potential buyers are shopping for just that….a Jacksonville waterfront home. Over 90% of them shop on line! When they shop, they sometimes visit a large general real estate site like RE/MAX or REALTOR.com. If a waterfront buyer goes this route, they are often met with thousands of listings – which can be frustrating as many or most aren’t waterfront.
Next, they get a little more specific and Google it. They use any number of words to search for what they are interested in. Most likely, this site will be included in the results as we have worked hard to make sure we are on the map! Once they visit, the site offers a clean and sophisticated search. If you have a waterfront home for sale, contact us about getting it listed and highlighted on this site. Your home should be shown and marketed at its best by a team focused on waterfront. Check out our services for waterfront home Sellers.Contact me and let’s chat: 904 234-5196.
Waterfront Home Buyers
Looking for a waterfront home in Jacksonville or Ponte Vedra? This site was designed for you. Clean and clutter free. Easy to navigate, easy to read, and easy to search for specific waterfront homes and communities. We are continuously tweaking the search pages and results to make sure you get the best information. If you find any area on the site that needs work or you can’t find what you are looking for – let me know as we may be able to develop the site further.
When you are ready to start searching for a waterfront home in Jacksonville or Ponte Vedra, contact me. I’ve seen some really good properties and really good deals, so I can help you find exactly what you want in a waterfront home and make sure you are getting the right deal. Check out our services for waterfront home buyers.
Jacksonville Waterfront Homes and Properties – and Ponte Vedra
Ready to sell a home in Jacksonville? A RE/MAX agent should be your first phone call. To sell a home in Jacksonville you need the Marketing which creates traffic (Potential Buyers). My motto: Traffic = Sales.
With the RE/MAX marketing exposure, your choice is an easy one. A short list of RE/MAX marketing and advertising in action:
Best Internet Exposure:#1 Most visited website of a Real Estate Company in the world. Over 2.3 million unique visitors per month. Almost all home buyers start their search on-line, this gives you a competitive edge.
Dominates the industry in Advertising: Selling a home in this market requires big marketing and advertising. RE/MAX does more advertising which drives more potential home buyers to REMAX.com.
Strategic Partnerships: RE/MAX Specialist is partnered with Homes and Land Magazine and The Real Estate Book for automatic syndication of your home for sale on their websites.
The Most Sign Calls: With more homes for sale than any other real estate company, we get more potential buyers calling from the for sale sign in the front yard. The home they called on may not be the best fit, but your home may be the perfect fit.
RE/MAX Sells more Homes: It’s a fact. With more sales, come more referrals, which brings more buyers for your home. Approximately 70% of our business is repeat business.
If you are ready to get your home on the market, make sure you are working with a professional Jacksonville Real Estate Agent who has the experience, knowledge, and marketing expertise to get your home sold……and make sure he is a RE/MAX Agent!
Jacksonville Real Estate Agent – Jacksonville RE/MAX
This past week I visited several Homes for Sale in Jacksonville.
While walking through the houses, my buyer client and I both noticed several Do It Yourself projects gone bad!
The Do It Yourself craze has been great. We all have updated and upgraded our homes while saving money and learning some handyman skills. Unfortunately, the quality of work hasn’t always been stellar and a few projects stand out like sore thumbs. Uneven grout lines, bad paint jobs, botched drywall patches, and messy crown molding are the usual culprits.
If you need to sell a home in Jacksonville and the house needs updates, hire a handyman that has done the work before. If you already have a project gone bad – Get it fixed ASAP! Buyers don’t want to come in and have to redo a bad project & it is more a deterent than anything else.
Jacksonville Real Estate Agent – Jacksonville REMAX
When you are ready to sell a home in Jacksonville, a REMAX agent should be your first phone call. To sell a home in Jacksonville you need the best Marketing which creates the most traffic (potential buyers) to see your home. More prospects = a Sale of your home. With Jacksonville REMAX exposure, your choice is an easy one.
Best Internet Exposure:#1 Most visited website of a Real Estate Company in the world. Over 2.3 million unique visitors per month. Almost all home buyers start their search on-line, this gives you a competitive edge.
Dominates the industry in Advertising: Selling a home in this market requires big marketing and advertising. REMAX does more advertising which drives more potential home buyers to REMAX.com.
Strategic Partnerships: Jacksonville REMAX Specialists is partnered with Homes and Land Magazine and The Real Estate Book for automatic syndication of your home for sale on their websites.
The Most Sign Calls: With more homes for sale than any other real estate company, we get more potential buyers calling from the for sale sign in the front yard. The home they called on may not be the best fit, but your home may be the perfect fit.
REMAX Sells more Homes: It’s a fact. With more sales, come more referrals, which brings more buyers for your home. Approximately 70% of our business is repeat business.
If you are ready to get your home on the market, make sure you are working with a professional Jacksonville Real Estate Agent who has the experience, knowledge, and marketing expertise to get your home sold.
Jacksonville Real Estate Agent – Jacksonville Realtors – Jacksonville REMAX
