A Short Sale Is Still Your Home Part 3

This is the third installment in a series of blogs meant to help sellers in Davenport avoid the pitfalls that may get in the way of getting their short sale sold. In this installment we are going to talk about making sure buyers can get a foot in the door. See what I did with the picture there?

Buyers want to look around the house. They want to nitpick. They want to talk about all the things they like and don't like about the house. They can't do any of that if they can't get into the house to see it. I can't count the times that I have called and called to try to show a buyer a home and the owners just won't let it be shown. Those are the properties that stay on the market for months and months.

If your home is priced right it ought to be under contract by the time 2 months has passed. If not, something needs to change. You might need to make the house more available. If you are getting showings, and the home is show ready and well maintained, the home should sell. It's not an exact science of course, but you should do everything you can to ensure buyers are getting in the door and the house is show ready.

The best case scenario is to go and take a 10 minute walk while their Realtor shows them the house. This ensures that they can talk openly about the house without the fear of possibly insulting the seller. And that's good for you, the seller.

Image courtesy of Rennette Stowe at Flickr

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Mortgage Assistance Relief Services Disclosure

Tutas Towne Realty, Inc is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.
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Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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A Short Sale Is Still Your Home Part 2

If you read my last blog post about short sales and Home Owner's Associations, then you know I'm writing about things that will stop you short when trying to sell your Davenport Short Sale. There are any number of things that will kill the deal and should be avoided. Today we'll discuss property maintenance and cleanliness.

This is where I need you to help me help you. At a bare minimum, a home should be clean and fresh when it is being shown. The first sense buyers respond to when they walk into a home is smell. If there is cigarette smoke...they'll know. If there are pet stains everywhere...they'll know it. If the house has mold because it's been vacant with no air conditioning...they'll know it. They are a savvy bunch for the most part and want a good deal on a good home.

Some sellers turn the utilities off when they decide to short sale their home. I think that's a mistake. It is a small charge every month to keep the a/c running on 85 and have the water on so the pool stays blue. Keep in mind that whatever amount the sale is short against your mortgage balance is what you will be taxed on (in full disclosure; I'm not a tax accountant so don't take my word for it). The more you sell that home for the better it will be for you in the long run. It might cost you a little bit of money now, but the dividends it will pay later are worth it in my humble opinion.

Most of the short sales I see sitting on the market for 6 months to a year are overpriced. And the rest are not show ready when buyers walk in. This is just one of many ways you can help yourself help me to help you sell your short sale. Stay tuned for more...

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Mortgage Assistance Relief Services Disclosure

Tutas Towne Realty, Inc is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.
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Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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A Short Sale Is Still Your Home Part 1

I've been working with a few homes owners on short sales who have sort of abandoned their homes and forgotten about them while trying to sell them. This has made the task of selling these particular homes a little tough. So I thought I'd put together a small list of things that can derail a short sale in it's tracks. This is part 1.

There are a few things that will, without a doubt, cause you some heart ache when selling your home as a short sale and could lead to you not selling it at all. One of those things is not paying the Home Owner's Association. This is something that most lenders will not pay. A Home Owner's Association can be a real snag when you're selling your house. Especially as a short sale. That association has to be paid by someone or they could put a lien on a property. That someone likely won't be your lender. We call this a deal killer.

So for your own benefit, keep paying those dues until closing so you don't end up having a problem with them. If you take the Vista Park Resort in Davenport, FL for instance. Their HOA fee is $602 per month. They provide a wealth of services in this community for the money, but that is still one hefty payment. At over $7,000 per year, that bill will add up very quickly if not paid. If you stop paying HOA fees while waiting on lender approval for a short sale a nasty surprise could be in store. The best advice is to keep treating your home like it's your home while trying to sell it. Good luck and happy selling!

Image courtesy of texas_mustang at Flickr

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Copyright © 2011 http://www.cflinvestmenthomes.com All Rights Reserved

Mortgage Assistance Relief Services Disclosure

Tutas Towne Realty, Inc is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.
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Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Short Sale Flipping In Poinciana...Is It Ethical?

Short sale flipping in Poinciana...is it ethical? Sometimes I wonder how far out of touch NAR is with the reality of selling real estate in this market. I read in one of their email newsletters a couple weeks ago that they think flipping a short sale is unethical. What they referred to was a cosmetic flip. Where you buy the home, paint, put new carpet in, and sell it for a profit.

With over half of all properties in Poinciana being sold as short sales, I think this is a service that this community needs. Short sales sell for about 10%-15% less than regular sales in this area. The fact that it's a short sale makes it worth less. This is because buyers don't want to wait on the short sale process. A property is worth exactly what a buyer is willing to pay for it. Plain and simple.

If the lenders...I'm talking to you Bank Of America, Chase, Wells Fargo...want more for the house, then streamline the process so that buyers don't have to put up with sooo much crap when trying to buy a short sale. Having a buyer on the hook for 4 months waiting on short sale approval is unethical. Ok, maybe not, but it does suck and makes the property worth less.

I see nothing wrong with a pioneering investor buying short sales and waiting out the process. Then fixing the home up all nice and pretty and turning around and selling it. I have shown houses for some of these investors in Poinciana and they have done some great things with these homes. They aren't out trying to make millions either. They are making $2k-$3k for their trouble.

Lets put that in perspective. An investor gets under contract on a short sale, waits 2-6 months for the lender to approve it, and sinks $6k-$10k into the property to bring it up to snuff. NAR thinks them making a profit of $3k for their trouble is unethical?! I don't think so! When I'm out showing properties, I thank goodness some of these flips are around. They are move in ready, well manicured, and make great investments for other investors who don't want to go through the trouble of buying a short sale or home buyers who want a nice place to move into after closing.

Not to mention the fact that they sell for a higher price which brings other property values up. In turn raising the value of the comparables a Responsible BPO Agent uses when pricing the lender's next short sale. I say flip on flippers. A flip can't flop if it's bought with cash!!!

Image courtesy of John Picken at Flickr

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Copyright © 2011 http://www.cflinvestmenthomes.com All Rights Reserved

Mortgage Assistance Relief Services Disclosure

Tutas Towne Realty, Inc is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.
******************************************************************
Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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