1. Priced to Sell

  2. Priced to Keep

This is one of my Canadian friend's rule of thumb on pricing, and I fully agree.  In any real estate market cycle, this rule of thumb works.  It's one of the keys to the success that I have had at liquidating properties for owners or banks who MUST sell.

Too often I believe we all forget about the dynamics of selling real estate.  It is everyone's intention to sell a house at absolute top dollar and then buy a house in perfect condition for the absolute lowest dollar.   It rarely ever happens this way.   More often than not, home owners end up having to reduce the price because the idea that "someone will come along and just fall in love with it" never happens.  Frustration sets in and the price…

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We've just been given another SunTrust approved Short Sale and the sellers, buyers, and all parties involved are ready to get this one closed.

Suntrust Short Sales are not too difficult as long as the appropriate expectations are set upfront.  The way Suntrust currently works short sales is that all phases of the process are completed in the 60-70 day time frame, and then it gets handed to the Suntrust negotiator.

YES, they do take longer than many of the other big banks, however the legitimate short sales are getting approved.  It's just a waiting game.  The good news on Suntrust is that if you get assigned to a negotiator, you are basically done and should be closing shortly thereafter.

Check out the Suntrust Short Sale information on their…

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In Jacksonville Florida, many homes have been abandoned by the owners after frustration of dealing with a mortgage modification.  It's happening in every neighborhood and in every income bracket.

I blame the mortgage companies! The general public is not aware that a Short Sale is the best option versus just walking away from the mortgage.  If an owner attempting a loan modification actually hangs in there with his mortgage company after months and sometimes years of frustration and red tape, eventually the mortgage company may finally deny the modification and then recommend a Short Sale......occasionally.

Short Sale is an option, and most often the best option.

Do not call the bank and ask if you can do a short sale!

If you call the bank and…

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We get calls from home owners in Jacksonville and Ponte Vedra who need to sell a home, but have been unable to get the mortgage company to give them an answer on doing a short sale.  These home owners are upside down in the mortgage, and attempt to get some kind of approval to do the short sale from the bank.  DO NOT DO THIS.

The correct steps to Start and Complete a Short Sale:

  1. It's important to have the correct expectations, so spend the time to read this page about Short Sales.
  2. Contact a licensed real estate agent who is an expert in Short Sales.  Meet Brad.
    1. We discuss your financial situation, house, bank, etc.
    2. We discuss the short sale process
    3. We discuss working with our Short Sale Attorney who will represent you.
  3. Meet…

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