sale (177)

Seller Must Dos --Before Listing

1. Clean, clean, clean. Be sure to clean every nook and cranny in the house.2. Pay attention to smells. Sellers should not smoke in the House or exits duringthe listing period. If pets are allowed in the home, refresh the home daily withair freshener - like Glade.3. Clear out the clutter in the closets, in the bookcases, on the tables, in walkways, on counters, orlaying on furniture. Your goal is to make the house neat and attractive.4. Boost the curb appeal - by trimming bushes, shrubs, pulling weeds, cutting grass, andedging around driveways and islands.5. Freshen up the decor with a new coat of paint in a neutral color and update curtains and bedding.6. Remove bulky couches or arrange furniture to make home look spacious and inviting.7. Last -remember to repair or replace broken lighting or fixtures so buyers feel the houseis well maintained.
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Palo Alto Probate Home

This is a question I get asked all the time. When an owner has passed and has rental property should the heirs sell the Palo Alto probate or trust home with the tenants in place, or wait until the lease is up?

 

While most years I would say wait until the tenants are gone but with the uncertainty of how interest rates will affect prices and what will happen to a Palo Alto market that has already shown signs of slowing, even with very tight inventory, the answer is not clear cut.

 

Sell Palo Alto Probate or Trust Home With Tenant: Pros:

 

  1.      Palo Alto school Priority 1 Registration goes from Jan 12 thru Feb 15th. That is the best chance of getting your child in the school closest to you. There is always a space in a Palo Alto school for a resident, but getting the one closest to you is best obtained if you are a resident during this period. Selling with tenants in a  Palo Alto probate rental may allow the buyer to get a leg up on school registration for the next year.
  2.      Interest rates are lower now than they will be next summer, or even in March and maybe Feb. A 3 million dollar Palo Alto probate home has a very good chance of having a loan on it so the less a buyer has to pay for the mortgage the more they can afford for the home. For every 1 point increase in interest rates there is a 10 % increase in payment.
  3.      The inventory is very low and the Palo Alto housing is market still active. It is unknown what will happen as the year goes on. The market could go down as interest rates go up, or if there is a natural disaster, a world event, or terrorist attack.
  4.      Some people who buy Palo Alto homes in Probate or Trust early are happy to rent the house out until the end of the school year because they do not want to move until school is out if they are relocating.

 

http://www.marcymoyer.com/trustandprobatesaleshttp://www.marcymoyer.com/trustandprobatesales With a Tenant Cons:

 

  1.      Harder to show house
  2.      You will not be able to make interior upgrades or stage with a tenant in place so it may depress the price somewhat
  3.      The tenant may be messy or say inappropriate things to potential buyers which could depress the price.
  4.      If the tenant does not have beautiful furniture the professional pictures will not look as good.

 

Sell Palo Alto Probate or Trust Home After Tenant Lleaves Pros:

 

  1.      You can have the interior painted, wood floors refinished, new carpet, and any other cosmetic upgrades you want that will help bring in more money.
  2.      You can professionally stage the property and the photos will look much better.
  3.      Much easier to show the house and have open houses which bring in more people and help bring in a better price.

 

Sell Palo Alto Home in Probate or Trust After tenant leaves Cons:

 

  1.      Interest rates will be higher which will depress the price. It is unknown by how much because it also depends on how the stock market is doing, most likely for Apple, Google, Facebook, and Linkedin.
  2.      If there is a trade war with China tech stocks could be hurt more than other sectors. This would make less money available for down payments for most of the buyers in the area.
  3.      If the dollar continues to be strong foreign investors will be much less likely to be buying homes in Palo Alto.
  4.      The best time to sell a home in Palo Alto in from Jan thru early June. The second best is the fall. If the tenants are out in June and the home is prepared in July and Aug and on the market in Sept you have missed the best time, but may get the second best time, but only by waiting until Sept to put home on market.

 

So as you can see the answer is not clear. No one can say for sure what will happen to the real estate market in 2017. If you are in this situation now it is probably a good idea to add your own Pros and Cons to this list to get a feel for what may work best in your situation.

 

If you have any questions about selling a home in Probate or Trust please feel free to contact me.

Marcy Moyer

Keller Williams Realty

Specializing in Probate and Trust Sales

650-619-9285

marcy@marcymoyer.com

www.marcymoyer.com

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Recently I have been involved with a number of families were trying to sell homes they thought they inherited or had title to, but wound up in Probate instead. Since the Probate courts are backed up, this can cause delays, heartache, and tension for the families and were problems that probably could have been avoided.

 

I want to say firmly, I am not a lawyer. I am a Realtor who specializes in selling homes in Probate and this is not legal advice. If you are going to be involved in intra family title changes PLEASE get the advice of a lawyer. This is complicated stuff.

 

I just want to give you a few examples so you can see that you should not assume anything when it comes to Probate sales.

 

First Example:

 

Mom owns home in Redwood City free and clear with no mortgage. She has 4 children and wants only 2 of the children to inherit the home. She signs a deed transfer her daughter, not a lawyer, drew up saying that instead of owning the house only in her name she gives 1/3 interest to one daughter and 1/3 interest to one son.

 

Mom dies. Son and daughter think they inherit the house 50/50, but that did not happeb. Deed does not say all three own as Joint Tenants. That would have provided the right of survivorship. Not only that, but daughter as executor of estate can’t sell the house. The 1/3 interest of Mom now has to go through probate and since there was no will all 4 children get to split Mom’s 1/3. Daughter has to be appointed by the Probate Court as Administrator of the Estate before she can sell the home.

 

It gets worse. They have to go through probate, hire a lawyer, and pay court costs for 1/3 interest in a house.

 

The mistake here was not spending the money up front to get advice on how to accomplish Mom’s wish that only two of her children inherit the house.

 

Tomorrow I will give you details on other issues that have come up in my Probate sales.

 

If you have any questions about selling a home in Probate in Half Moon Bay or anywhere else in the Bay area please feel free to contact me.

 

Marcy Moyer

Keller Williams Realty

Specializing in Probate and Trust Sales

650-619-9285

marcy@marcymoyer.com

www.marcymoyer.com

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4359186064?profile=original

Hello,


This is really going to be good for home or condo sellers. Please contact me to get started and for more information.

Three reasons why to sell this spring.

Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are three of those reasons.

1. Demand is about to skyrocket

Most people realize that the housing market is hottest from April through June. The most serious buyers are well aware of this and, for that reason, come out in early spring in order to beat the heavy competition. We also have a pent-up demand as many buyers pushed off their home search this winter because of extreme weather. Sellers in markets where seasonal weather is never an issue must realize that buyers relocating to their region will increase dramatically this spring as these purchasers finally decide to escape the freezing temperatures of the winters in the north.

These buyers are ready, willing and able to buy…and are in the market right now!

2. There Is Less Competition - For Now

Housing supply always grows from the spring through the early summer. Also, there has been a growing desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners have seen a return to positive equity as prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future.

The choices buyers have will continue to increase over the next few months. Don’t wait until all the other potential sellers in your market put their homes up for sale.

3. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by approximately 4% this year and 8% by the end of 2016. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate at about 4.5% right now. Freddie Mac projects rates to be 5.1% by this time next year and 5.7% by the fourth quarter of 2016.

Moving up to a new home will be less expensive this spring than later this year or next year.

Stop by or contact us:

Mukilteo Executive Offices

8490 Mukilteo Speedway Suite 107

Mukilteo, WA 98275


Gerhard Swiderski  (Real Estate Designated Broker/Founder)
Phone: (206) 261-2440  FAX: 425-939-0820
GPlus-Realty
Residential, Commercial, Relocation, Lots and Land, Investment Properties, REO, Short Sales, First Time Home Buyers and Luxury Homes.

I would greatly appreciate your referrals and recommendations to your friends, family, and business colleagues; they are a substantial part of my successful business services.
Our Video

 

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Welcome-to-Wisconsin-300x225.jpg?width=300The Wisconsin housing statistics are in for January of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

The harsh winter took a toll on January home sales in Wisconsin, according to the most recent analysis of housing market activity released by the Wisconsin REALTORS® Association (WRA). Existing home sales were down 6.8 percent relative to January 2013, but median prices rose 3.2 percent to $126,900 over that same time frame.

Home sales cooled along with the weather in January,” said Steve Lane, chairman of the WRA board of directors. “REALTORS® know that buyers and sellers don’t like closing on homes during winter months, preferring instead to move when the weather improves,” Lane said. “This winter has been anything but typical, with brutally cold weather and plenty of snow contributing to the decline in January sales,” Lane said.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. This month however home sales number decreased, but take a look at the price increase! The price rebound in our region is certainly still under way. Rock County was up 11% year over year in January!

Thinking of purchasing a home before prices or rates rise any further?! I'd be happy to show you any homes currently listed for sale. Feel free to visit Rock County, WI Home Listings to search for current properties listed in Rock County or visit Dane County, WI Home Listings for homes in Dane County.

Now might be the right time to sell your Wisconsin home! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

Housing Statistics for the State of Wisconsin:

January 2014
Home Sales: 3,325
Median Home Price: $126,000

January 2013
Home Sales: 3,520
Median Home Price: $123,000

Housing Statistics for Dane County, WI:

January 2014
Home Sales: 282
Median Home Price: $200,000

January 2013
Home Sales: 320
Median Home Price: $194,750

Housing Statistics for Rock County, WI:

January 2014
Home Sales: 99
Median Home Price: $99,900

January 2013
Home Sales: 111
Median Home Price: $90,000

View my report from last month. Wisconsin December 2013 Housing Statistics

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Simple Ways to Get Your Home Ready to Sell

photo credit: Neil Kremer via photopin cc
photo credit: Neil Kremer via photopin cc

For those homeowners that have waited to sell their home, heed the advice of Nike: “Just Do It.”  Interest rates are still really low and the upcoming changes in mortgage lending may disqualify some buyers.  Now is the time to sell your home.  In order to help your home sell quickly follow the timely advice offered below.

Spend a Little Now to Get More Later

With so many homes available many buyers are seeking out a property that is move-in ready.  This means that small repairs and maintenance items will possibly turn off some buyers.  Take a walk through the home and pick out the small things that need to be fixed.  Leaking faucets, a chipped tile, a flaky bit of paint and other similar items can negatively impact the appearance of your home.

You should also consider spending a little money to get the carpets thoroughly cleaned and ask a local heating/air conditioning company to service your unit.

Put Yourself in the Shoes of the Buyer

If you are looking for a new home, what items are important to you?  The majority of people want to live in a clean home that smells nice with lots of room in the closets, cabinets and other storage areas.  Therefore, you should put a lot of time in to making your home look clean, neat and organized. Start with the cabinets and closets.  Remove as much clutter as possible and even add some shelves if it helps improve the look.  Go through all the rooms and put everything away in a nice, orderly fashion.  Finally, get a few aroma dispensers and put them throughout the house.

Make People Interested in Coming Inside

So many homeowners spend time, money and a lot of effort improving the inside of the home that they ignore the outside appearance.  It is important to have an inviting appearance.  Homeowners should trim all the bushes, clean out the gutters, make sure the driveway and walkway are clear and clean the windows.  For people that have siding, consider power washing the siding as well.  It is really important that the front door and the surrounding entrance area look clean and homey.

Two Important Rooms: Bathrooms and Kitchens

The bathroom and kitchen will usually have more influence over selling a home than any other part of the house.  It is a good idea to go through these rooms and spend extra time, and even money, to make sure they look attractive and modern.

Many types of cabinets can be painted with a little bit of planning and work.  All bathroom plumbing should be in good working order.  Make sure there is plenty of light with good looking fixtures and that the ventilation to both the kitchen and bathroom is more than adequate.  Also, make sure the counters are clean and devoid of clutter.

It may seem like a crazy idea to spend money on a home that you are planning to sell.  However, spending money in the right areas can greatly improve your chances of selling the home faster and may yield a good return on the investment.

Why list your home with Rock Realty?? Rock Realty Marketing Outline

Recent Testimonials: Rock Realty Client Testimonials

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Welcome-to-Wisconsin

The Wisconsin housing statistics are in for December of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

2013 was a robust year for Wisconsin’s housing market, with both sales and prices increasing by solid margins, according to the year-end housing report released by the Wisconsin REALTORS® Association (WRA). Existing home sales were up 10.8 percent compared to 2012, and median prices increased 7.2 percent to $143,000 over that same time frame.

Strong sales dominated 2013, which is remarkable given that this is compared to 2012, which was also a very good year for the housing market,” said Steve Lane, chairman of the WRA board of directors. According to Lane, existing home sales were up in every region of the state in 2013 relative to the previous year.

Lane noted housing sales were strong despite raising interest rates and prices. “Mortgage rates have increased a full percentage point since January, and median prices have grown consistently throughout the year,” Lane said. “Yet the entire state posted genuine gains in 2013, a trend we hope and believe will continue into the new year,” Lane said.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Take a look at Dane & Rock County! Marked improvements in price and sales volume, a great sign.

Thinking of purchasing a home before prices or rates rise any further?! I'd be happy to show you any homes currently listed for sale. Feel free to visit Janesville, WI MLS Listings to search for current properties listed in the Janesville area or visit Madison, WI MLS Listings for MLS Listings in the Madison area.

Now might be the right time to sell your Wisconsin home! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

Housing Statistics for the State of Wisconsin:

December 2013
Home Sales: 4,620
Median Home Price: $143,250

December 2012
Home Sales: 4,343
Median Home Price: $133,900

Housing Statistics for Dane County, WI:

December 2013
Home Sales: 440
Median Home Price: $210,671

December 2012
Home Sales: 411
Median Home Price: $200,000

Housing Statistics for Rock County, WI:

December 2013
Home Sales: 139
Median Home Price: $108,000

December 2012
Home Sales: 113
Median Home Price: $95,000

View my report from last month. Wisconsin November 2013 Housing Statistics

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Welcome-to-Wisconsin

The Wisconsin housing statistics are in for November of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin home sales fell 6 percent in November 2013 when compared to November 2012, although total sales for the year remain ahead of 2012. Comparing the first 11 months, home sales were up 11.1 percent in 2013 over 2012. Prices were also higher in November, rising 4.7 percent above the same month last year, to a statewide median of $136,000.

Over the last two months, the housing market has definitely cooled from the red-hot pace that characterized the first three quarters of 2013.” said Steve Lane, chairman of the WRA board of directors. “This was bound to happen since the base of comparison is 2012, and that was a very strong year for home sales.” he said.

Lane pointed to markedly higher mortgage rates, steady upward movement in prices over the last year and a half, and heightened uncertainty of federal fiscal and health care policies as potential factors for the cool down..

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. Although the numbers cooled in November statewide, Dane and Rock County have been outperforming!

Thinking of purchasing a home before prices or rates rise any further?! I'd be happy to show you any homes currently listed for sale. Feel free to visit Janesville, WI Homes for Sale to search for current properties listed in the Janesville area or visit Madison, WI Home Listings for Sale for MLS Listings in the Madison area.

Now might be the right time to sell your home! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

Housing Statistics for the State of Wisconsin:

November 2013
Home Sales: 4,770
Median Home Price: $136,000

November 2012
Home Sales: 5,020
Median Home Price: $129,950

Housing Statistics for Dane County, WI:

November 2013
Home Sales: 419
Median Home Price: $208,500

November 2012
Home Sales: 415
Median Home Price: $198,000

Housing Statistics for Rock County, WI:

November 2013
Home Sales: 144
Median Home Price: $108,750

November 2012
Home Sales: 141
Median Home Price: $87,000

View my report from last month. Wisconsin October 2013 Housing Statistics

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A Short Sale Christmas Miracle…?

A Short Sale Christmas Miracle…?

As many of you know, I enjoy working with distressed homeowners (yes, another label), that is, those homeowners who are facing a hardship. It could be a job relocation, death of a loved one, divorce, loss of employment, etc. I like working with these people because, it keeps me humble and more importantly, constantly reminds me that we are all part of the tragic human condition. More to the point, it’s a constant, in my face, open your eyes and stand witness to the plight of those who are hurting. As witness to these terrible circumstances facing these good people, I can empathize and help shoulder the burden that a home can sometimes cause a family. In this, I am reminded of just how human and fragile we are.

This day, started like any other, following up on my files, calling banks, listening to recordings, staying on hold for endless hours, I am sure you know the drill however, something different happened today, something that truly could be called, a Christmas miracle.

My clients banks called me to inform me that they will not be postponing the foreclosure and no other options to save my clients home was available. These calls are always gut wrenching and over the years I have developed an almost morticians kit gloves however, I was bamboozled when the representative asked my client and I if we would like to talk with his supervisor. You see, that never happens…never. Now, keep in mind, our call was not hostile in any way and in fact, by all accounts, it was going really well. Sure, my client was upset and anxious but, he wasn’t agitated, rude, belligerent and he had no malice in his tone or cadence with the representative.  This may be because I had prepared him for this eventuality months before and in reality, we had settled into the idea that this would happen so, all in all, the call was going well. Towards the end of the call, right when I normally say, “thank you Mr. Representative, I will be in touch”, Mr. Representative asked if we wanted to speak with his supervisor. Of course, my client and I jumped at the opportunity, with a little glimmer of hope but, in the back of my mind, I knew and understood we were likely going to be told “no” once again.

Relaxed in our defeat and comforted that up to this point, we had truly done everything we could, everything we knew how to do, the supervisor came on. Now, before the conversation really got started, pleasantries were exchanged and lines were drawn. That is, we were told, that no matter how the call ended, the end result was still going to be “no” and truthfully, to my client, I think that was just fine, as long as he had a chance to speak and tell his story….that is really all he wanted to do. The supervisor, lead by what seemed to be her nature, calmly and empathetically said, “I would be happy to listen.” I immediately muted my phone so as to not disturb my client and I listened in complete amazement as I actually hear silence from the supervisor, interrupted only by her warm, calming and assuring voice as she said things like, “Oh no” or “That’s terrible”. You see, for any of you who know anything about short sales, first off, we rarely get to speak with supervisors and those that we do get to speak with, rarely ever are they willing to just stop, listen and empathize. Down here in the south, we would say that’s about as rare and hens teeth.

In a flash, I realized what I was standing witness to and it moved me, it did something to me that I don’t know will ever be undone. I was listening to a divine moment. A moment where one wretched human, down in despair and looking into an abyss was given a flickering, fragile, flame of hope in nothing more than the simple act of listening. I saw the burden of a crushing debt begin to lift with the calming, reassuring voice of an empathetic ear. I heard the divine reach from the mouth and ear to the soul of another. I was moved. Sure, the outcome didn’t change, the foreclosure is still taking place as scheduled but, foreclosure was the furthest from the soul of the people talking and listening even though it was the word most spoken and weighting most heavily on the tongue.

I know I will never make a dime on this property or client. I have worked tirelessly and yet, my work will not help me keep my lights on, pay my mortgage or even put gas in my car but, it did change my life because, how could anyone stand in the presence of such an awesome act, witness evidence of the divine and not stand in complete awe with their nature changed forever?

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Welcome-to-Wisconsin.jpg?width=300The Wisconsin housing statistics are in for October of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin’s red-hot real estate market cooled in October, with sales of existing homes nearly identical to October of last year, according to the most recent housing report issued by the Wisconsin Realtors® Association. October sales were just 0.1 percent lower than last October, representing the first time since July of 2011 that monthly sales did not increase over the previous year. The median sales price however continued to rise, increasing 5.6 percent to $142,500 in October relative to October 2012. On a year-to-date basis, median prices increased 7.5 percent compared to the first 10 months of 2012.

While somewhat surprising, these numbers are not totally unexpected,” said Steve Lane, chairman of the WRA board of directors. “We are comparing sales between two very strong years and two very healthy markets,” he said.

Sales softened in all regions of the state. The strongest regional growth was in the South central region, where sales were up 3.9 percent.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. As you can see, Rock County was exceptionally strong in October for both the number of homes sold as well as the price at which they sold.

I'd be happy to show you any homes currently listed for sale. Feel free to visit Janesville, WI Home Listings for Sale to search for current properties listed in the Janesville area or visit Madison, WI Homes for Sale for MLS Listings in the Madison area.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

Housing Statistics for the State of Wisconsin:

October 2013
Home Sales: 5,711
Median Home Price: $142,000

October 2012
Home Sales: 5,652
Median Home Price: $135,000

Housing Statistics for Dane County, WI:

October 2013
Home Sales: 513
Median Home Price: $218,000

October 2012
Home Sales: 493
Median Home Price: $198,878

Housing Statistics for Rock County, WI:

October 2013
Home Sales: 168
Median Home Price: $109,000

October 2012
Home Sales: 147
Median Home Price: $85,000

View my report from last month. Wisconsin September 2013 Housing Statistics

Read more…

Many people have no clue what happens or if anything happens to their credit when they complete a short sale. Truth is, many people just don’t know however, some really great articles are out there about this very topic and yet, so many questions still exist.

The first article I want to draw your attention to is notably an older article however, based on all the chatter I hear on a daily basis about how a deed in lieu or short sale will impact your credit, I really think this article should be revisited.

As published in the Washington Post 8/30/2011 by Michelle Singletary she stresses the fact the actual credit score it’s self, also known as the FICO score may be impacted differently by a short sale or deed in lieu however, that impact is so marginally different that, claims a short sale is less negatively impactful than a deed in lieu seem a bit farfetched, when strictly referring to impact of the FICO score. If you want to read her article yourself, click here.

A 2nd article I think you should read is by Linda Ferrari on 6/9/2009 on her blog, Linda Ferrari Your Credit Score Expert. She wrote an article titled The Mortgage Crisis and Your Credit Part Three: Deed in Lieu of Foreclosure. This article is really good from the stand point about how your credit score is impacted by how the deed in lieu is reported. Many people don’t realize that the bank can report your deed in lieu three different ways and of those three different ways, the negative impact will vary from most negative impact to lest negative impact. I would strongly suggest you read her article to learn more about how it’s reported. It was a huge eye opener for me.

Finally, I found a great article, maybe the best one on what the future may hold for those of you who have completed a short sale vs a deed in lieu. Now this article is very recent, in comparison to the other two, it was written back on 7/8/2013 by Alanna McCargo and even better, it’s posted on the Equifax forums giving it credibility. It’s titled “Can I buy a Home After a Short Sale or Foreclosure” and, the best part is her approach to credit fundamentals and how important it is to do all you can to protect your credit.

All in all, after these I read these articles and did some further investigation on my own, here is what I learned.

  1. Your credit will be negatively impacted by a Short Sale, Foreclosure or Deed in Lieu.
  2. The negative impact to your FICO score will be marginal at best between the Short Sale, Foreclosure or Deed in Lieu.
  3. When you agree to participate in any of these default disposition options, CONSUMERS MUST READ THE TERMS AND CONDITIONS OF THEIR PARTICIPATION and watch out for how their action is being reported to the credit reporting bureaus. The truth is, some reporting options are much more negatively impactful than others. Consumers need to know they have options they can negotiate here for a less negative impact to their credit.
  4. Finally, benefits like, relocation assistance, no risk of future deficiency judgments are not guaranteed and once again, CONSUMERS MUST READ THE TERMS AND CONDITIONS OF THEIR PARTICIPATION as these additional benefits are NOT guaranteed. Consumers have options here to negotiate a better deal and should be aware they have options.

If you are considering a short sale, contact me, Jesus “Jesse” D. Gonzalez Jr. Realtor / Principal Broker of Liberty House Realty LLC. I would be happy to discuss your options with you and how we can help. 615-424-0961

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Thinking of Short Sale Flipping?….Think Again.

In an Article in the Los Angeles Times Business paper, written by E. Scott Reckard published on-line 10/16/2013 @ 6:15am cst, he reports that a former Bank of America Corp. employee Kevin Lauricella was arrested on federal charges for accepting bribes in the amount of $1 million to allow homes to be sold far below their market value.

Based on the report, it appears that Kevin is indicted on 18 properties where he allegedly allowed them to be sold far below the price the bank would have accepted. These alleged transactions took place in 2010 and early 2011. To get the sales through the BofA system, Kevin is accused of falsifying bank records.

The buyers who bought these ridiculously low priced homes would then turn around and sell them for market value or even refinance them at market value, pocketing the profits. To better understand the allegations, see an example of a possible scheme below, not related to the specific allegations of Kevin’s.

Homeowner owes ………………………………………………………………. $100,000.00

Based on Sold comparables, his home is worth……………………… $75,000.00

Which means homeowners is upside down…………………………....$25,000.00

Buyer / Investor makes a low ball offer of……………………………….$50,000.00

BofA completes an appraisal and the home is worth……………..$75,000.00

Now, here is where it get’s fishy. Instead of BofA countering the buyer’s $50,000.00 offer with a counter of $75,000.00, someone at the bank has to do something to allow the $50,000.00 offer to be approved, even though it’s $25,000 less than what the bank could get on the open market. So, to more the story along, the bank approves the fraudulent $50,000.00 offer and the buyer / investor closes the deal on Monday. They then turn around and close the 2nd deal….that’s right, the deal they had in their back pocket from a buyer who was willing to pay $75,000.00 for the property on Tuesday morning, making $25,000.00 in profit in less than 24 hours.

Now, the really sad part of this, the opportunity for fraud is rampant. It doesn’t take a cooperative bank representative to pull this off. In fact, I have seen this strategy myself, in play, here in my local market with corrupt appraisers. I have even been pressured myself, by buyers / investors to tell them when the appraiser is scheduled to be at the property so they can meet with them and give them their comparable analysis. These buyer / investors make it sound so reasonable, they say things like, “well, we want to write up the offer” or “we want to negotiate our offer with the bank direct” or “we can meet with the appraiser so he can see our comps”, etc…  however, it’s fraud!

In fact, this is happening so rampantly in my own market place, I was contacted by such a buyer / investor’s Realtor back on Sat 9/21/2013 @ 10:06pm cst through my email. That’s right, these fraudulent buyer / investors are enlisting Realtors to now do the dirty work for them, offering them “double commissions” or higher splits, playing on the agents greed. Sadly, the agent that contacted me is working with a well known Principal Broker in a very well known firm however, the firm is one of those 100% firms and they offer very little to no mandatory training and chances are, after drilling this agent via email about his actions, he may actually believe what he is doing is “the American way” of buying low and selling high.

This topic always seems to get a lot of response and most of the time, I am demonized and vilified saying that I have no business being in Realestate or, I have no clue what I am talking about however, you don’t have to take my word for it. If you really believe what you are doing is above board, legal….and some investors package you bought for $999.99 gives you a indemnity clause or a release of liability statement that says you can do what you’re doing, then I have one thing to say to you. Take your package you bought, take your forms you use and call my friends over at the HUD’s office of the OIG and ask to speak with the Lisa Gore, Assistant Special Agent in Charge or Harvey Wayne Martin, Special Agent. I know they would love to talk with you and answer all your questions.

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We would like to introduce you to our home buyer specialist, Eric Engels, Realtor® | Real Estate Agent serving the Janesville, Wisconsin area!

Eric-Engels-240x300.jpg?width=240"Hello Rock County! I am very happy to have joined the Rock Realty team. I have been a resident of Janesville for over 13 years. I lived in the Quad Cites before that living in both Illinois and Iowa. In 2006 I had the chance to move back to the Quad Cites, I thought about it for about 2 seconds, but Wisconsin is the best place to live I couldn't leave. I am a big fan of the Midwest way of living! I am very excited to meet some of the great people in Rock County, and to help them in there home buying and selling needs."

"At Rock Realty we use the newest and most innovative technology to help us in our advertising and researching needs. Please feel free to call or e-mail me with any questions you may have. Again I look forward to meeting the great people of Rock County."

Thanks

Eric Engels

Visit my site to search for Janesville, WI Real Estate Listings:

www.JanesvilleListings.com
(Homes for sale in 53545, 53546 and 53548 and the rest of Dane & Rock County)

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Rock Realty Client Testimonials

"Mike Collins was easy to talk to and very good at explaining in detail all aspects of the short sale of the property. With a lot of patience, he walked me through the process of a short sale. He was understanding of my plight and very sympathetic.


Mike was a pleasure to work with and he is a man of his word.
Thank you, Mike, and best of luck to you."

Tom D. (Oxford, WI)
Rock Realty Seller Client

Rock Realty Client Testimonials

Thanks for the compliments, and Congratulations on your closing Tom!

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We would like to introduce you to our home buyer specialist, Bethany Alexander, Realtor® serving the Oregon, Wisconsin area!

Dane County WI Real Estate
"I am excited to be a part of the Rock Realty team to help expand their services throughout Dane County. I am originally from Corpus Christi, Texas, but have lived in Oregon Wisconsin for the past 20+ years. As a long-time resident of Oregon and an Oregon High School graduate I have an in depth understanding of the area which will assist me in helping you to select a home location that best suites your family’s needs."
"As a Rock Realty real estate agent, I use the latest tools available to help advertise, broadening the range of qualified buyers for your property. It is my top priority to educate and help guide you through the exciting and sometimes stressful process of buying or selling a home. I truly care about my clients and their needs and will work hard for you to ensure that your experience with buying or selling a home is as simple and stress free as possible. If you are looking for a Realtor® to put your individual needs first, look no further, call me today to discuss what I can do to help you with your real estate needs."
If you are looking to buy or sell anywhere in Dane County, I'd love to help!
Bethany Alexander
Real Estate Agent/Realtor®
608-212-4101 (cell)
Bethany@RockRealtyWI.com
Search the MLS via my site:
www.SweetHomeWI.com

 

 
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1Side-e1357247834912.jpg?width=300We are happy to announce the closing on another one of our short sale listings, this time in Oxford, WI! This was an Associated Bank negotiated short sale. Short sale transactions can be complex, but if you have an experienced Short Sale Realtor® the process is much more manageable.

This was a fantastic log home with acreage, at a great price! The new owners are sure going to enjoy all 38+ Acres! If you are thinking of selling or buying a short sale home in Wisconsin, our short sale specialists would be happy to assist you. Give Rock Realty a call at 608-921-8536. (We are a full service real estate brokerage.)

Is a Short Sale right for my situation??

If you are considering the possibility of a short sale for your home and have further questions, feel free to visit the page below:

Is a Short Sale right for My Home?
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Short Sale Real Estate Agents in Fitchburg, WI 53711



Fitchburg, WI Short Sale Real Estate AgentsAre you looking for a Fitchburg Wisconsin Short Sale Realtor®or real estate agent? Rock Realty is a real estate brokerage that specializes in Short Sales and Bank Owned Foreclosures in the Fitchburg WI area.

 

My name is Michael Collins, broker for Rock Realty. I have completed the Short Sales and Foreclosure Resource training and have been given the SFR designation through the National Association of Realtors®. Feel free to contact me directly at 608-921-8536 for help with any of your short sale questions. I have helped many Fitchburg home owners with their distressed property needs.


REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities. The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk.

A Certified Distressed Property Expert® (CDPE) is a real estate professional with specific understanding of the complex issues confronting the real estate industry. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today's market.

What is a Short Sale?
A short sale occurs when a lender agrees to take less than the amount owed to payoff a loan as an alternative to foreclosure. Lenders know that it will cost them a significant amount of money to take a property back. The Realtors® at Rock Realty can often convince them that they will be better off financially if they sell the property now rather than taking the home through foreclosure and trying to sell it later. So, a short sale can actually be good for the bank. It can also be good for the home owner, as it is typically better to perform a short sale on their Fitchburg property instead of letting it proceed to foreclosure.

If you are considering the possibility of a short sale for your Fitchburg Wisconsin home and have further questions, feel free to visit the short sale information page below.

Is a Short Sale right for My Home?

Additional Short Sale Information

Rock Realty SOLD Short Sale Listings
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It’s a sign of the times!

Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.

But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll.  Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course.

The sad fact is that foreclosure is not an isolated event. For months leading up to the loss of a home, financially strapped homeowners live under a cloud of uncertainty.  And then for many years afterwards, the blow to credit gets in the way of buying another home or buying anything on credit. Foreclosure even complicates employment prospects.

The impact of foreclosure is huge and the sad fact is that it’s often avoidable.

CDPEReflectionLogo

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially strapped homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Among the most important facts to keep in mind: the sooner help is sought, the better the options.

These are tough times, but more help is available than ever before. If you or someone you care about is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact me today and let’s get started.

What are your 10 Options to Avoid Foreclosure?

Top-Short-Sale-Real-Estate-Agent-Realtor-Wisconsin

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Why you should attend the Short Sale Symposium at Sea.

In the past couple days, I have gotten a few calls and emails from members wanting to know what my thoughts are on the Short Sale Symposium at Sea by the Short Sale Specialist Network so, let me make this easy for everyone and just write a blog about it.

1. It's a CRUISE! Ok....do I really need to say more? Surely not....but, I will....lol.

  • Hassle Free: This is the best part for me. I pack and unpack once. I don't have to drive around, look for a hotel, wonder if the part of town I am in is safe or where I am going to eat.
  • Get Away: I love being out of the country, truly away from the daily grind.....it's so refreshing. No alarm clocks, no PHONES, no emails, etc... (NOTE: If you really need it, you actually can get email on the boat, if you want to pay a little extra)
  • It's First Class: The cruise staff treats you well. People are nice, they go out of their way to make your experience a first class experience.
  • Do It All or Nothing At All: It's a cruise, you choose what you do, when you do it.
  • A New Place Daily: I love being able to come back and tell my friends and family about all the places I have been, Jamaica, Grand Cayman....all on one trip.
  • I Am Never Bored: These ships have all kinds of things to do. From shows, dining, events, activities, etc.... you can't get bored. Just between us, I am more a cocktail pool side kind of guy.
  • Shopping!: Yes, we love shopping at all the local shops in port, getting to experience the locals and having a good time on land.
  • Friends Everywhere: Cruises are designed to network....you're on a ship and everyone is there to have a good time so, meet some people and have a good time, make a friend or two.
  • Romance: Ok...yes, cruises are very romantic, something about taking your spouse with you, having a day full of classes and learning, then a nice romantic dinner on your cabin balcony, watching the sun set......uummm, well, that is enough of that, you get the point.

That about sums up the first reason I give people why I love the Short Sale Symposium at Sea now for reason # 2.

2. The Short Sale Symposium at Sea is the most unique and fun-filled conference our industry has. Who said a conference can't be a freaking blast? It doesn't have to be filled with suits and ties, stuffy lecture halls and crazy schedules. Instead, why can't we learn and network in shorts, t-shirts and flip flops? Oh...wait, we can, it's called Short Sale Symposium at Sea. It's a relaxed environment and offers incredible opportunities to learn, network and get to know other professionals and how they are working in their home markets. It really is a conference but, much more fun.

After those two reasons, do you need anymore? Well, you don't have to take my word for it, go to www.ShortSaleCruise.com and listen to the testimonials of the other attendees yourself, then you decide.

I really hope to see you there.

Jesse G.

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It is a common occurrence in the Silicon Valley for homes that are in Probate to also go into default. For many older home owners there is scant cash in the bank, they may still have a mortgage, and without a trust a home goes to Probate. When that happens the bills, including the mortgage do not get paid until a Personal Representative is appointed by the court. This can be a lengthy process if there is a disagreement amongst heirs as to who should be in charge. Unfortunately that is a very common occurrence in Santa Clara probate sales.

So while the relatives are arguing over who rules the Santa Clara Probate roost, the mortgage does not get paid and the lender starts the foreclosure process.  

Once at least three payments are missed a Notice of Default may be filed on the Santa Clara Probate Sale. This notice will give you three months to cure the default. If the owned money on the Santa Clara Probate home is not paid during that three month period a Notice of Trustee Sale can be filed and the Santa Clara Probate home can be sold three weeks after that.

The attorney for the Santa Clara Probate home can go to court and get an order to temporarily stop the foreclosure process while the estate is being settled, but this takes some time as well.

Because the inventory is so low and the demand for homes is so high in Santa Clara, most Santa Clara Probate Sale homes can be sold and ownership transferred during the Notice of Default period. The defaulted loan on the Santa Clara Probate home can be paid off, and the rest of the equity used to pay the other bills and then distributed to the heirs.

Sounds simple, but sometimes it isn't. Once a loan on a Santa Clara Probate sale goes into default it is transferred to the loss mitigation department. Sometimes that is the equivalent of going into a black hole. These departments are overwhelmed and under staffed. It can take many weeks to get pay off information from them. In a traditional sale the title company will order pay off information less than a week before closing which is more than enough time to determine exactly how much is owed by the seller to pay off their loan.

In a Santa Clara Probate sale when the loan is in default it can take many weeks to get the pay off information. The title company should start the pay off demand as soon as there is a contract. That way, maybe 30 days later they will have the figures to pay off the loan.

If it is a short escrow period for the Santa Clara Probate Sale it is possible that everyone might be ready to close and there is still no pay off demand from the lender. When this happens, the escrow can still close and title can be transferred, but the money can not be distributed until the mortgage is payed off, and the estate will have to pay for a mortgage on a home it no longer owns until the bank gets its money.

So if you are involved in a Santa Clara Probate Sale and there is no money to pay the mortgage make sure that the process is started right away to get the pay off demand for the loan or the estate will be paying on the loan after the escrow is closed.

If you have any questions about Probate Sales in Santa Clara or San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285 

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