From the category archives:

Foreclosures-- Let's Make a Deal

Fast Flip or Long Term Quality? Don’t Be the Biggest Loser!

July 26, 2010

We’ve all seen it– the quick flip with nothing more done than yard clean up, new paint, low grade carpet and a granite countertop, all this for $50K-$75K more than the investor purchased it for.
That’s great, if you go for skin deep looks, and the house is only 5-10 years old.
But [...]

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Quit Trying to Outguess the Market. Just Put in your Best Offer Now!

July 23, 2010

Quit trying to outguess the market, the seller or the bank. Just put in your best offer!
You might not get a 2nd chance.
A lot of times I am peppered with questions: when did they buy this home, how much do they owe, what will the bank take, when will they decide, how many other [...]

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Distressed Homes—or Distressed People? Which one is more important?

July 20, 2010

Distressed Homes—or Distressed People???? It’s really the people who matter, as always. When I first heard the term “distressed homes” it seemed so odd, as if a home can really have feelings. But the people inside can, and they do, in a huge way.
Most people considering a short sale or on the brink of foreclosure [...]

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Get a Copy of Your Credit Scores while they’re still good

July 16, 2010

If you’re facing financial difficulties, and may start having to miss payments on your home, call your loan officer or go to www.myfico.com and order a copy of your FICO scores now, while they are still strong.
Here’s why:
1) It’s a good, positive reminder for you of all you’ve worked for AND that your current financial [...]

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Dear Mr/Ms Buyer— if it sounds too good to be true…

June 19, 2010

Dear Buyers– it’s so easy to be fooled– by ridiculously low prices that some listing agents insist on using just to garner a slew of offers.
And guess what, it works every time!
There’s a part in your heart that knows it will never actually sell for that, but still, what if… there’s a chance…maybe we’ll get [...]

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The Giant Fork in the Road– how important is the number of closed transactions, really?

June 9, 2010

Build a giant team? Or remain a happy boutique agent… that is the question.
I work with a lot of out-of-town buyers, so my first consultation “meeting” with them is usually over the phone. After spending a good 45 minutes answering one gentleman’s extensive short sale/foreclosure questions, he suddenly became very focused on wanting to know [...]

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Seller in Distress: Please be Respectful

June 7, 2010

There are so many sellers in distress these days– they’ve lost jobs, income, and now their home– can you imagine what that would feel like? A home, aside from being touted as the cornerstone of the American Dream, is also tops on the list of Maslow’s famous hierarchy of human needs– it’s basic shelter.
Now add [...]

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Considering an LLC for a home purchase? Consider this:

June 7, 2010

Considering an LLC as the vehicle for making a home purchase? If you’re looking at forming a multi-person LLC to pool your money to make a home purchase, the first thing you’ll be doing is visiting your attorney to discuss the legal ramifications. And here are some key factors to consider from a real estate [...]

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Is there Life after a Short Sale?

June 3, 2010

Is there life after a short sale? You bet there is, and it’s getting better all the time.
Losing your home to foreclosure is a tough and draining, no doubt about it. It’s hard not to get caught up in the emotions of the situation– people feel everything from anger and fear to despondency and helplessness. [...]

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Don’t Let the New Looks Fool You– Do a “Gut Check” on Rehabs

May 26, 2010

Don’t Let the New Looks Fool You– Do a “Gut Check” on Rehabs. Sometimes what’s lurking underneath the fresh paint can cost you a bundle!
There are a lot of investors out there buying at auction or using their cash to scoop up distressed properties and then rehabbing them quickly and flipping. Some literally toss on [...]

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