Creating a system that works for you.

Sitting in my office trying to find a Short Sale in this Foreclosure Market is hard.I remember when it was easy to find a Short Sale because agents was not showing them.Now that the market has changed from foreclosures in demand to Short Sales in demand.There are maybe 10 offers for 1 Short sale these days.As I was making my calls I decided to merge my call lists.Here is what I did...I was calling owners who are in default on their loans in the areas my buyers wanted.Now these were properties that was not listed.I set a appointment or I spoke with them on the phone about the Short Sale process.What made it more interesting to them was the fact that I had a buyer for their property.Right now I have 2 happy buyers and 2 happy sellers.They will have to agree to the Dual Agency and make sure the seller understands the Fair Market Value.I even sat down with two couples discussing the Fair Market Value and what the Lender might accept.Be creative in markets like this but stay within the Procedures and Laws of Real Estate.Every system may not be perfect or for everyone but we can strive for perfection or create our own.Find your niche and perfect it.

Monica, you rare one of a kind. I am glad you are working so diligenlty in the market. Matter of fact is that market has stayed stabilized for at least 6 months and showing some value increses in some areas. Still I see a lot of people suffering. Home owners that would like to keelp their home if payment is affordable while there are some other home owners that can not afford even a modified payment. I really make a financial assestment to the home owners and find even not traditional income to see if they are able to afford a modified payment of $25% less than their current payment. If this is the case they are good candidates for a modification. If their financials show that they can not afford a modified payment, they are great candidates for short sale. Always show sympathy, understanding and respect for your prospects.

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Comments

Monica Oakes November 2, 2009 at 8:31pm

Genaro I am thankful for experience.This market has showed us all how to be humble,caring and understanding.Also thankful.
Genaro Pulido November 2, 2009 at 5:30pm

Monica, you rare one of a kind. I am glad you are working so diligenlty in the market. Matter of fact is that market has stayed stabilized for at least 6 months and showing some value increses in some areas. Still I see a lot of people suffering. Home owners that would like to keelp their home if payment is affordable while there are some other home owners that can not afford even a modified payment. I really make a financial assestment to the home owners and find even not traditional income to see if they are able to afford a modified payment of $25% less than their current payment. If this is the case they are good candidates for a modification. If their financials show that they can not afford a modified payment, they are great candidates for short sale. Always show sympathy, understanding and respect for your prospects.
Monica Oakes October 12, 2009 at 4:53pm

Thank you Arlene.
Arlene Garcia Hanner October 12, 2009 at 4:51pm

Great solution! I hope they both work out for you.

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