Archive for the ‘Short Sales’ Category

I just read an article (yes another one!) to support predictable real estate and the PRIME OPPORTUNITY in short sales.  There is and will be a growing issue with Commercial Real Estate and defaults.  It is predicted and it is expected.  The cycle of real estate is reliable. Each sector follows each other.  We have seen (and continue to see) the correction with the residential market and as it turns toward recovery (projected 0ut another 3 years) so does the turn for the Commercial Real Estate.  What does that mean to you and I?  Well it depends.  If you prepare and plan for it, it could mean MAJOR OPPORTUNITY for short sales, and the ability to use this previous market (the one we are in now) to support our level of experience in dealing with a market such as this.  Winning over CASH SUPPORTERS to invest with (a.k.a. investor partners) will be a key component to the game.  Build it and they will come.

http://realtytimes.com/rtpages/20100225_losses.htm

Keep it Short,

Mike Knows

Ok, so not really if you have been following the market.  But the report I have attached shares more of the same for the trend in foreclosures…..the are going up and values are still going down!  And, there is no stop in it.  Three main factors serves this as Truth:

1. Bank inventory is being released to the tune of 7 million homes this year to resell

2. Unemployment and 5 Year ARM’s will add to more foreclosures

3. The government programs “attempts” with their programs have proven to help little to none.

In summary, Short Sale the debt to force the accurate value and move the inventory is the goal.  Nothing more than basic supply, demand, and true values.

http://www.dsnews.com/articles/underwater-mortgages-increase-to-113m-first-american-2010-02-23

We buy short sales, we train how to work with us on short sales, and we benefit the entire benefactors of the system.

Keep it short,

Mike Knows

MikeO@LMSGnow.com

Here is a simple way to evaluate if you are ready to make this year YOUR YEAR.

1.  Do you think this is one of the greatest times to be in real estate?

2. Do you think that the government has done a lousy job of trying to handle this mortgage mess?

3. Do you think that real estate professionals have the best opportunity to correct this mortgage mess?

4. Are you willing to invest in the time and energy to make this YOUR YEAR for real estate?

5.  Are you willing to work with someone whom have been doing this for the last 7 years?

Make 2010 your year!  NOW!

Keep it short,

Mike Knows

Dear interested followers, I am leaving this article for your review (in case you haven’t read HAFA ) http://realtytimes.com/rtpages/20100126_shortsale.htm, to get an idea of how the force of the Board of Realtor’s pushed the government to get a form of semblance to standardize the process of a Short Sale.  I applaud my colleagues for this.  I think that the effort from the government was admirable. BUT, there is still a major flaw with this.  It is the process of the short sale and the reliance of people to run it.  Here is my basic outline of the “typical process” and then I will give you why I run to proven process to push their process to work more effectively (hint: it is the FREE GUIDE I offer on this blog).  Here it is with the video:  Short Sale Sytem to Sell..FAST

This is really a time tested and proven system across the country to work short sales, and HAFA is only going to help this effort for all of us.  Don’t delay call today!

Keep it short,

Mike Knows

State Regulators Say Federal Foreclosure Prevention Program Falls Short

So this headline from DSNews.com hasn’t really surprised anyone has it?  Not me, but not because I know every little detail on why or what they offer.  It seems that by the results the government doesn’t either.  Really what tells me about the current and future status of this market is the past results.  That is we have history of the last few years of what and how to handle this.  Obviously there is some good from the programs (for those that they helped) but overall the success has been overshadowed by the failure.  Simply put we are in a market correction of historic proportions.  And, the historical evidence is always shown that a correction must take its course and the INVESTORS HELP THAT PROCESS ALONG.  Buying and selling in this market takes a very well seasoned professional which aligns themselves with other professionals to coordinate a system to move inventory through and back on the market.  And you know what?  It isn’t government funded it is entrepreneurial supported by the hard working, creative minded, and tenacious people that has made this Country great!  So I ask for more support of rallying together as a network of professionals to correct the market the way history has shown.

http://www.dsnews.com/articles/state-regulators-say-federal-foreclosure-prevention-program-falls-short-2010-01-22

Keep it short,

Mike Knows

Hey sports fans!  Sorry for the delay in with the updates.  I literally shut it down for the holidays.  I have to to tell you it was tough….I got so wrapped up in business that I was losing focus of what working really means.  The good Lord stepped in and made an adjustment with my priorities.  Him first, My family next, and everything else…well you know.

I hope all of you got to do the same with your time off.  I am refreshed and ready to go.  I feel new (kinda sorta).  I know this, that I am filled with passion to give and give abundantly.  I know we have so much to do in this market and the latest news only supports that WE have our work cut out for us.  There are new stats showing that we are in for the worst of times with the foreclosures.  Not only with the 5 year ARM recast, but the unemployment rate still in the 10’s, the seasonal slow down with sales, and the ridiculous attempts by the government to help delay the correction with HAMP (better known as CHUMP).  Anyway, do not delay and start today making a New You to change you and others lives during this troubling time.  Short Sales are in!

For more disgusting news…please read!

http://www.dsnews.com/articles/delinquencies-foreclosures-at-record-highs-with-shadow-inventories-looming-lps-report-2009-11-10

Keep it short,

Mike

Dear Family, Friends, Associates,

I send this message with Hope and Love in this Holiday Season. I am not one to really get mushy to everyone, that is unless I am moved. I am moved by the Power of Love and Hope. In this holiday season we are torn with many feelings. There is constant news of challenges in war, economy, life and so on. We are not immune to these things, but through Love and Hope we fill ourselves with the pure ingredients that God has born in us. These 2 Gifts move us out of our own circumstances and into His presence.

In the business I have been blessed to run, I have experienced these two special gifts in my and others lives. I prepare an opportunity to have the ability to handle problems properties that people have been faced with and present these 2 gifts of Hope and Love. If you are or someone you know needs these 2 gifts this season I have them in abundance. To my family to all of you….Happy Holiday’s and Merry Christ-mas.

Mike Ouellette
www.MikeknowsShortSales.com
www.Help-Me-ShortSales.com

Hey look Ma…no hands!  That is about what you are faced with when you have found yourself (or know someone that has) behind on an overleveraged home, and unemployed to boot.  Basically, the highly touted loan modification plan does not apply to homeowners with little or no income.  I have talked with hundreds of homeowners whom have faced the position to try and save their home, but when I ask what they have tried or what position are in to try and keep the payments going, and they tell me they are out of a job, I sigh and say to myself, “you are scrwed.”  This is is the reality and you can read more on the link below.  Here is a sobering way to look at this;

1. Where is your financial future going to be like in the next 6 months?  The same, worse, or better?

2. How much is your house worth now?  Overleveraged, break even, or equity?

3. Would you consider starting over if you could get relieved of the problem property?

This honest evaluation and timely decision could very well help you with a Fresh Start Future! 

Consider this.  www.Help-ME-ShortSales.com

http://money.cnn.com/2009/11/28/news/economy/Obama_mortgage_announcement/

Keep it short,

Mike

Happy Thanksgiving everyone!  I have been blessed to be in such a wonderful position in my life.  It doesn’t have much to what I where, where I live, what I have and what I don’t, except my Lord and Savior Jesus Christ.  Everything is gravy after that!  Sorry for the pun, but it needed to be expressed.

Ok, so you want to know what the top 3 ways to know if your market has rebounded?  After all it is about trends and that is what makes it safe to track.  here they are:

1. Jobs (or unemployment rate) are they coming or going.

2. Inventory (house total) increasing or decreasing?

3.  Foreclosure rates (Notice of defaults) same as above.

Measure the trends to determine month over month where these go.  Also one other factor for the delay is the season trend.  November-February are typically slow months for sales, and could back up inventory as more foreclosures/bank owned properties hit the market.

Keep it short,

Mike Ouellette

More and more finger pointing and exposed practices occur when things hit the fan.  Like for instance when the refinance craze happened over 2002 to 2007(ish).   You know that period where you would call a lender because you want to squeeze some juice out of that home of yours to maybe do improvements, take a trip, buy that Harley Davidson etc?  And weren’t we just tickled pink when we heard of home much the value of our home was worth…AGAIN!?  Knowing somehow the refinance we did the two years prior was 50 thousand less…Oh, Happy Days!

As we work with over-leveraged homeowners and we notice the mortgage history on the property, it is not uncommon to see that type of trend.  it is unfortunate, and somewhat accurate, as to why now we can see that we were all turning a blind eye to the ability to suck the money out of our homes from thin air.  I hear many homeowners complain that it was the lender and the appraiser that came to that value, thus allowing the refinance (see the link to the article below).    But, we weren’t stopping them as we collected the tens of thousands of dollars to use for some benefit were we?  NO.  Now this is not a judging session on whom was the rat and whom was the cheese.  It is merely sharing that this mortgage mess is a group effort.  Some more on some side and on the other side, with a good portion in the collective middle.

If you may have a overinflated value from a previous refinance(s) then consider what and who it is valued from.  It may help your cause when looking to do a Loan Modification, but it may help you also com to grips that the house wasn’t truly what the value was worth when you got that refinance check.  That may help some come to grips of letting go and starting over.  Sorry, just a little reality in this correction of the market.

http://www.dsnews.com/articles/index/retro-appraisals-raises-doubts-about-lenders-past-valuations-as-foreclosure-defense-2009-11-05

Keep it short,

Mike

For help with shortsales please visit: www.Help-Me-ShortSales.com