Russell Shaw passes on a powerful email being sent to agents on how to deal with Bank of America’s difficulty with short sales- don’t send them any new mortgage business. More thoughts here.
Author: J. Philip Faranda
Short Sale Investor Canard
Categories: Short salesTags: short sale approvals, short sale timelineGiven the number of blogs on the difficulties agents experience on short sales, I thought I’d take another shot at a canard that banks are now using to justify more delays, and that is the following: “The investor is reviewing the file.” This is typically followed by 60 days of nothing. Now, I don’t argue … Read More…
Monroe, NY Short Sale: First Time Buyers
Categories: Short salesTags: buying a short sale, New York short sale Realtor, New York short sales, orange county short sale, Westchester short sale RealtorAn old wrestling teammate from high school referred me to his younger brother, who is also newly married and looking for his first home (Thank you Facebook!). Michael and Stephanie had been out looking for a while, and a prior agent had written an offer for them which didn’t work out. They didn’t have a … Read More…
New York Short Sales- Now They Are Common
Categories: Short salesTags: New York short sale agent, New York short sale Realtor, New York short sale specialist, New York short sales, short sale realtor, short sale specialistI recall listing my first short sale since the 90’s in 2006. The reaction from both the public and most agents to the term “short sale” was typically one of curiosity and confusion. What is a short sale? How does it work? How long will it take? Is it for real? Now short sales are … Read More…
J. Philip’s Appearance on ABC World News
Categories: Short salesTags: J. Philip Faranda, New York real estate market, Top westchester realtor, westchester home prices, westchester home values, Westchester housing marketI was featured in the lead story of May 27’s ABC World News in a story on the real estate market. [youtube=http://www.youtube.com/watch?v=86bhz0Enn7Q&autoplay=&fs=1&showinfo=0&showsearch=0&rel=0&autoplay=&fs=1&showinfo=0&showsearch=0&rel=0&autoplay=&fs=1&showinfo=0&showsearch=0&rel=0&hl=en_US&fs=1&] J Philip Faranda on May 27 ABC World News – Watch more Videos at Vodpod. J. Philip Faranda is Westchester & the Hudson Valleys’s Premier Short Sale REALTOR. He has listed and sold … Read More…
First Time in a Long Time
Categories: Short salesTags: New York short sale agent, New York Short sale expert, New York short sale Realtor, New York short sale specialist, Putnam short sale Realtor, Putnam short sale specialist, short sale realtor, short sale specialistMay, 2009 will be the first month in recent memory that we did not close on a short sale. Three regular sales closed (interestingly, all were in Putnam County), but no workouts were among them. Is this a good sign for the economy? Unfortunately, it is an anomaly. One short sale I referred to a … Read More…
Obama and Administration Encourage More Short Sales
Categories: Short salesTags: avoiding foreclosure, New York short sales, short sale specialist, Westchester short sale Realtor, Westchester short salesThe government has moved to increase the incentive for lenders to allow short sales on their defaulted loans. I welcome this, although there is nothing specified as to how they’ll hold banks accountable for streamlining the process, which is rife with red tape, bureaucracy and long waits. If they truly want to make short sales happen more … Read More…
The Fast Closing: Putnam Valley Short Sale
Categories: Short sales, Success StoriesTags: avoiding foreclosure, hudson valley short sale Realtor, New York short sale agent, New York short sale Realtor, New York short sale specialist, putnam short sale expert, Putnam short sale Realtor, Putnam short sale specialist, short sale realtor, short sale specialist128 days ago, I sat at a dining room table in Putnam Valley, New York, just north of the Westchester County border with a young couple who were listed 4 times previously with 3 different brokerages in unsuccessful attempts to sell their home. Along the way, they got behind on their payments due to loss of income … Read More…
Why Armadillos Don’t Own Real Estate
Categories: Not-so-Successful-Stories, Short salesTags: avoiding foreclosure, New York short sale agent, New York short sale Realtor, New York short sale specialist, New York short sales, pre foreclosure, short sale realtor, short sale specialist, Westchester short sale agent, westchester short sale real estate agent, Westchester short sale Realtor, westchester short sale specialist, Yonkers short sales, Yonkers short sales agentI have blogged previously that lizards who are smart enough to move survive and those that sit still are quickly eaten by any colonies. Both sitting still and moving are survival mechanisms, but depending on the circumstances one can kill you and the other can save your life. In a New York short sale, curling … Read More…
Short Sales Have Come to New York City
Categories: Short salesTags: Manhattan short sale agent, manhattan short sale broker, Manhattan short sale specialist, Manhattan short sales, New York city short sale broker, New York city short sale real estate agent, New York city short sale specialist, New York city short salesShort sales have been quite common in the boroughs, such as Queens and the Bronx. They have now arrived in Manhattan. Until the financial crisis, Manhattan’s real estate market was actually extremely hot. The cooling down, however, has put New York City into the same economic malaise that the rest of the country is enduring. … Read More…