Archive for the ‘Short Sales’ Category

…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

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