When I closed my first short sale in 1998 I had no idea that 10 years later I’d be doing them with any regularity. At that time, short sales were uncommon; they remained uncommon through 2006. Even in 2007, other agents needed to be educated about what a short sale was, how long it took … Read More…
Tag: New York short sale specialist
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…
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…
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…
Fannie Mae to Banks: You Can’t Cut Broker Commission
Categories: Short salesTags: Fannie mae, New York short sale agent, New York short sale Realtor, New York short sale specialist, New York short sales, short sale commissions, short sale realtor, short sale specialist, Westchester short sale agent, westchester short sale real estate agent, Westchester short sale Realtor, westchester short sale specialistFannie Mae’s recent edict forbidding the cutting down of the broker commission as part of the short sale negotiation is very good for distressed sellers and buyers, not just the agents. I’ll explain. Naturally, brokers and agents are relieved because it ensures that the considerable time and effort that goes into selling a short sale … Read More…
The Divorce: Dutchess County Short Sale
Categories: Short sales, Success StoriesTags: avoiding foreclosure, divorcing home sellers, dutchess county short sales, Dutchess short sale Realtor, hudson valley short sale Realtor, 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 specialistThis short sale closed at the end of this past year. The clients were divorced, and the home they had built while married was incomplete and upside down. The house was listed this past summer. Divorce cases are in and of themselves difficult. I have to give both clients credit in their dealings with me- … Read More…
Westchester Short Sales- March Mumbers
Categories: 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, Westchester short salesUnless otherwise indicated, all data in this post is from the Westchester-Putnam Multiple Listing Service. There are 3,454 single family homes actively for sale in Westchester County. Of those, 148 are disclosing either a short sale or foreclosure proceeding in process. This is about 4.3% of the available single family home inventory. The actual number is probably far higher than … Read More…
Should Sellers Sign a Contract Prior to Short Sale Approval?
Categories: Short salesTags: avoiding foreclosure, buying a short sale, dutchess county short sales, Dutchess short sale Realtor, hudson valley short sale Realtor, New York short sale agent, New York short sale Realtor, New York short sale specialist, New York short sales, orange county short sale, Orange County short sale Realtor, pre foreclosure, Putnam short sale Realtor, Rockland short sale Realtor, short sale realtor, short sale specialist, Westchester short sale agent, westchester short sale real estate agent, westchester short sale specialist, Westchester short salesA recent posting from an Ohio broker highlights how real estate differs from place to place. In it, she says that she advises her clients to not sign a contract with a buyer if the house is a short sale prior to getting the bank’s approval. While I won’t quarrel with what works for someone … Read More…
Negative Equity Graph for NY Area
Categories: Short salesTags: Negative Equity, New York short sale agent, New York short sale Realtor, New York short sale specialist, New York short sales, Westchester short sale Realtor, westchester short sale specialist, Westchester short salesZillow has published a graph on how many homeowners have “negative equity,” or owe more than their home’s value. Not all these home owners are in touble; but the numbers are instructive. As you can see, the downpayment rquirements after 2007 became far more stringent, no doubt due to the sub prime crisis. Negative equity … Read More…