Tempe Gardens HOA causes short sale to become foreclosure

When you do a lot of short sales, every now and then you are going to run into a situation where a foreclosure happens and there is not much more you could have done to prevent that. Luckily that does not happen much, but when it does we like to tell about it here because […]

Short Sale promissory notes: Can I say no?

What if the bank asks for a promissory note to approve your short sale? Can you say no? No may be the difference between a short sale or foreclosure.Of course there are some cases where a promissory note will be required, but your agent is going to need to feel the bank out and use […]

Short sale advice: Dont argue with non-decision makers

One lesson I have learned from all of my short sale negotiations is don’t argue with a negotiator. A negotiator is not a final decision maker. They can not make any decisions without checking with upper management. When that negotiator tells you it cannot be done, or tells you this is the only way they […]

Dentist and short sales

An upcoming dentist appointment reminds me why you shouldn’t put off dentist appointments – or short sales – because you are afraid. One thing about both bad teeth and underwater homes – they don’t get better until you do something about them.  

What is better? Foreclosure or short sale… watch out for the sharks

Short sale or foreclosure? You are getting ready to make a decision on your Gilbert or Chandler home, should you let it go back to foreclosure or do a short sale? Well just like many questions it depends, a real estate attorney can look at your loan documents and tell you what is the best […]

If you were a defendant would you have the prosecuting attorney represent you too?

If you were a defendant in a court case, would you hire the prosecuting attorney to represent you? Of course not. So why would you do the equivalent in real estate. Dual agency is illegal in some states, and if it were up to me it would be illegal everywhere. How can one agent really represent and […]

Two reminders about short sales, one being they lie

This past week was a good reminder on a couple of short sale lessons that we all know, but sometimes need to be reminded of. Quick background on June 15th LBPS sent us a counter offer on a 70k Tempe short sale where they stated that the MI company was requiring the seller sign a […]

Why short sales are better than foreclosures

So the most common question we probably get when discussing short sales is, “Are short sales really any better than foreclosures?” The answer is absolutely and I think even we who deal with them day-to-day in Arizona forget. There was recently a file where the homeowner decided to let their home go to foreclosure because […]

Short sellers may want to avoid investors

http://www.youtube.com/watch?v=4wdNu528kus&feature=channel_video_title There was a time, not that long ago, when we were comparing offers from buyers on our short sale listings that the investor would often have the advantage over a home owner. The reason we used was the investor did not have to live in the property by a certain time frame and may […]

Nationstar continues questionable practices

About a hear and a half ago I did a video post on Nationstar and how they were bordering the line on ethics by trying to strong arm my buyer into using them to purchase a Nationstar REO even though my buyer was the high bidder. Well their questionable practices have not changed at all […]