Ron Ginyard has the experience you need to successfully realize your real estate goals.
Short sales abound, but many real estate sales associates do not possess the time, training, or temperament to process this type of transaction. In particular, many sales associates would rather use the time that would be lost processing paperwork to instead pursue marketing, lead generation, and other more productive activities.
Rather than distract themselves from their core tasks, sales associates handling a short-sale listing can benefit from the involvement of a short-sale negotiator, but they must be careful to adhere to rules on agency relationships, insurance, and compensation.
Home owners may choose their own negotiator, although they often do not have the expertise to select the best professional; selling sales associates may retain a negotiator as part of their team, or this individual may be an independent contractor that they hire; or the buyer's sales associate may bring in the negotiator, although this may lead to agency issues since the buyer's sales associate then begins to represent the seller.
In any case, it is critical for listing and selling sales associates to be certain of their Errors & Omissions policies, which may or may not cover these activities. They also must take care to address how the negotiator will be paid — out of commissions that have been earned or as a separate or negotiated fee.
Second Liens Roadblock for Short Sales
Second mortgages have become one of the biggest roadblocks to closing short sales. There are about 450,000 properties in some stage of the foreclosure process with at least one junior lien, according to real estate research firm CoreLogic. These second liens are a primary challenge for Freddie Mac, said Mark Johnson, who oversees short sales…
The foreclosure mess is making it harder for banks to sell properties. ForeclosureRadar, which tracks foreclosures in five Western states, says the number of properties coming to auction in Arizona, California, and Nevada has declined by more than 30 percent. Investors are backing away from sales because they fear that the properties they buy will…
This real estate scheme usually happens when the borrower owes more on the property than the current value. The borrower then pretends they have a financial hardship and can not make any more payments. Someone, an accomplice, who is working with the borrower submits a low offer to buy the property. The lender agrees with the…
Second mortgages have become one of the biggest roadblocks to closing short sales.
There are about 450,000 properties in some stage of the foreclosure process with at least one junior lien, according to real estate research firm CoreLogic. These second liens are a primary challenge for Freddie Mac, said Mark Johnson, who oversees short sales for Freddie.
Holders of second liens have little left to lose so some of them are willing to get in the way of a deal in hopes of being thrown a bone, said Jon Goodman, a real-estate lawyer and investor in Boulder, Colo.
Source: The Wall Street Journal, Nick Timiraos (11/27/2010)
Reviving A Stale Listing In 22314 In Alexandria In 22314
Do you have a abode similar to 124 Roberts Ln #201 in Alexandria that hasn't sold? Did you know that in Fort Ellsworth:
Reviving A Stale Listing In Alexandria, Virginia In Alexandria
Do you have a property similar to 301 N Beauregard St #114 in the City of Alexandria that isn't getting any action? Did you know that in The Fountains:
The foreclosure mess is making it harder for banks to sell properties. ForeclosureRadar, which tracks foreclosures in five Western states, says the number of properties coming to auction in Arizona, California, and Nevada has declined by more than 30 percent.
Investors are backing away from sales because they fear that the properties they buy will be tied up in an investigation, says Sean O’Toole, CEO of Foreclosure Radar.
O’Toole believes the problem is short-lived and ultimately will be settled in favor of the banks. "The fear that has been created in based more in hype than in law," he says.
Source: CNNMoney.com, Les Christie (11/29/2010)
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…
This real estate scheme usually happens when the borrower owes more on the property than the current value. The borrower then pretends they have a financial hardship and can not make any more payments. Someone, an accomplice, who is working with the borrower submits a low offer to buy the property. The lender agrees with the short sale not knowing that it was all a set-up. The property is usually resold immediately for the actual value for a profit. If you suspect real estate fraud you can make a report with stopfraud.gov.
photo credit: TheTruthAbout...
