Archive for the ‘Short Sales’ Category

Here is a short blog of Truth.  You can hold this statement to many things all of us have attempted in our lives.  But since I am specifically addressing the issues of this housing market (Short Sales and a choice thereof), I wanted to identify what I am seeing with this in 2 main areas.

1. The homeowner trying to save their home.

2. The Realtor/Agents that need to know how to handle them.

We have all been aware of some of the programs the government has offered to help homeowners (HAMP, HAFA, DIL etc..) and how they may fare …..or not…for the homeowner.  We also know that the results of these programs have been widely criticized as being a failed attempt to work (mostly).  So here is my view of what I am seeing specifically in the two areas I mentioned.

Now there is obvious finger pointing with the lack of direction, the lack information, and how the past decisions and positions (with offering and writing these loans) have shaped the crisis we are in.  But, basically being informed about the correct steps and making a true attempt to know what those are is the area I see most lacking.  The homeowner and the agent need to understand what the options are and stick with following through with a plan.  The stuff we are seeing is not just a failed system, but the attempt of trying a system they may not have known much about.  And therefore a poor follow through and result.

Keep it short,

Mike Knows

wwww.Help-ME-ShortSales.com

www.MyRealtorRescuePlan.com

New results with better number for the bail out program.  But, the admittance of a delayed conversion and trial being extended has me wondering.  That is good news….if this is truly the answer and the reason of the HAMP program.  So I am not trying to be a critic, but and my observation is that looking like a way to string along (a good percentage mind you) the inevitable…. fail loan mod’s and people out of there home.  In some ways (being the critic) it would appear that the BIG BANKS would have their numbers and plan on them for this benefit.  Of course the other benefit is to see them succeed, but somewhere in the middle therein lies the truth.

My specific solution would be to become clear on if this is really a benefit for each homeowner based on the own financial future.  I know leaving a home and the security has a lot of weight, but the challenge is if it is a misled solution in the first place?  Know your numbers and plan for the future. The banks are requesting it, and we as homeowner’s should expect it.

I have a good math class to share if you want to use it or share it.  Please email me for more details.  Mikeo@lmsgnow.com

http://www.dsnews.com/articles/treasury-report-shows-230000-homeowners-in-permanent-hamp-mods-2010-04-14

Please feel free to leave your comments below!

Keep it short,

Mike Knows

So here is where I CHALLENGE all of you whom raise their nose in the air, or let out a “but they are so difficult to deal with” to read this.  STOP THE CHATTER in your head for 2 minutes.  Ok, that was better then getting a hysterical slap off the cheek or cold water poured on you when you are having a nightmare (ask my buddy Gino about that one LOL)!

The article that I am sharing is simply the January 2010 statistics on the type of sales in our real estate world.  I am one to recoginze change after I have fought it and usually been effected by not adapting to it, but I am also one that once I catch on….LOOK OUT.    So this article basically states the obvious with what is out there in the market.  In my own experience it has been in the Massachusetts market for the last 3 years.  I personally have been effected and in it for the last 2 1/2 years.  So, basically the reason for my bantering is because there are many RE Professionals (you know who you are) that still do not want to recognize that there is a viable opportunity in this market (namely short sales), but you refuse to listen and act on what I have for you.  What you say?  You already know?  Hmmm not sure we’ve met or even done business together.  Anyway, I have built a full service RE business that is working this market in short sales and other stuff.  I have even created training and trained many to work with me…..and benefit.  I would cal this a shameless plug if I were selling something but I am not….it’s FREE.  I just need willing, able, and focused individuals to make it work.  Want to know more.  See my free report on my blog or email me at Mikeo@LMSGnow,com

http://www.dsnews.com/articles/distressed-sales-take-larger-share-of-market-first-american-2010-04-08

Keep it short,

Mike Knows

…What …..more government programs!!!????  I had to add my Bostonian sarcasm to this.  And as we (the collective masses with problem property “issues”) come into another attempt to get HELP with this mess.  We are now faced with HAFA..the new Short Sale program.  THE GREAT thing is we still are working short sales and we are not needing HAFA to get them approved for homeowners!

Email me at Mikeo@lmsgnow.com for the summary.

Essentially we have another attempt to handle this issue and make it efficient for the lender.  However, there is more to identify for the pro’s and con’s of this program largely because of the HAMP (loan modification program) that has done so miserably.  Nonetheless we see this as a “works in progress” and we will have a full line of both sides.  If the results are anything like the HAMP then we will have certainly looked at CHUMP and HUMP as alternatives.  Stay tuned as we unravel this.

Keep it short,

Mike Knows

Mikeo@lmsgnow.com

Now this topic / subject is very literal in the Massachusetts housing market.  We have reached historic levels (no pun intended) for total inches of rain.  Even as I write this, we have an additional 4 more inches TODAY!  The reports of homes flooded and under water is ridiculous…

Which brings me to a relative topic.  The under water homes because of value declines and inventory that is flooding the market (because of the foreclosures).  What is important to note is that I just read an article that forecasts when the Boston real estate values would land on dry land.  They are forecasting 2017!!!  This is a very important discussion that should be reviewed by someone whom may be trying to keep their home afloat.  I am specifically addressing those whom are behind on payments and may be trying or have tried some type of program HAMP, CHUMP (j/k)  or some other “save my home” program” that may be out there.  These homeowners may be considering trying to stem an evil tide of debt while really they should just BAIL!  Bail out!?  BAIL THIS!  To each person and decision is based on knowledge and weighing out their options.  But, before they lose it completely they should consider the forecast…..and more importantly starting fresh without going down with the ship.  Again, this is just my experience and perspective, and a choice I had to make (with no regrets) in the same storm.  For more information check out www.Help-ME-ShortSales.com

More on the article: http://www.dsnews.com/articles/how-long-will-negative-equity-last-2010-03-29

Keep it short,

Mike Knows

I am placing an article that I recently read and thought, hmmm no big deal, this has been around a while.  Then I realized that my apprehension or non enthusiastic response wasn’t because I didn’t have my cup of coffee yet, it was because I really didn’t see it from the eyes of the buyer.  Which, duh I am. Ok, so what am I talking about?  Expired listings have a major benefit for a person like me.  Especially if they are a SHORT SALE.  I AM A SHORT SALE BUYER!!!  The more I gave it thought the more I knew you all needed to know that I NEED TO BUY SHORT SALES!!!  The method and approach is simple.  I can fill you in with more details and the steps, but you first have to reach out to me!  I have a full marketing plan that I can provide to you if you work with me…and help me buy my short sales!  For more information please email me at mikeo@lmsgnow.com.

http://realtytimes.com/rtpages/20100312_prospect.htm

Keep it short,

Mike Knows

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