I recently had to engage in a transaction with the loss mitigation at the same bank that employs me. … More The Supervisor… Really? (via TriangleAreaRealtor)
The national statistics are bad, really bad and that’s just for existing non distressed home sales. The numbers are even worse when it comes to short sales.
Some experts today are saying that only 1 out of 10 short sales reach a successful conclusion. Yet others say that 1 out of every 4 close escrow. Regardless a 10% to 25% success ratio is pathetic no matter what your business is! Because my expertise is in Short Sales I find myself frequently being asked the question “Why do many short sales never close?” and this is what I tell them;
My Top 5 Reasons Your Short Sales Won’t Close
1) Unrealistic Buyer Expectations
Somewhere along the way, Buyers got it in their heads that short sales are the end all, be all score of the century. Often I receive calls from out-of-state investors and Buyers who all make similar comments – “Yeah… I had a cousin who bought a $300,000 condo as a short sale for only $50,000”. First, I would refute that the condo was ever worth $300,000. Perhaps in Florida, Nevada, Arizona or California, you might be able to pick up a condo for $50,000 when at once it was sold for $200,000. But outside the anomalous cities, you just don’t score those deals – not in the Raleigh/Durham/Apex/Cary areas of North Carolina.
Because of the recent loss of life and property devastation in Joplin, MO … More Tornadoes in Joplin and Oklahoma City
Your home has been damaged by a tornado, flood, a tree fell on it in the recent Hurricane. Or as in my case when Mrs. Cobos left the water in the upstairs bathroom running and flooded the second floor causing water to seep through to the ceiling below.
You’ve settled your claim with your home owners insurance agent and you have an insurance settlement check but it’s made out to you and your mortgage company; Continue reading Insurance Claims: Nightmare’s await Homeowners
Raleigh, NC – Headlines have done little to make real for most of us what devastation, loss of life and economic livelihoods have occurred because of these disasters.
It is hard for me to recall a time in my adult life that so many natural disasters have occurred in such a compressed period of time. To me it seems like it began with the Japan earthquakes and tsunamis resulting in the reactor melt downs and now with the flood waters on the Mississippi Delta. Continue reading Restoration Company or Contractor/Repairman