Wednesday, May 26, 2010
Tuesday, May 25, 2010
Learning an important lesson on Short Sales!
After a 4 month wait for a short sale to be approved by Bank of America, my buyer got the okay on his offer. The listing agent had not made me aware that the buyer had moved out until after we set the appointment for the inspection. So when we arrived at the inspection, there was no power and no water. When we called the city and power company we were told there were outstanding balances that needed paying before we could turn it back on.
Now, who is going to pay for this? Fortunately, my buyer felt it was such a good deal, he was willing to pay it, but not until I tried to get the seller to somehow pay for it. Eventually after a week, it has all been straightened out and we are ready to go back and do the inspection. But now I learned a valuable lesson.
As a buyer's agent, to make sure to check with the listing agent about the status of the seller's living arrangement and whether the bills have been paid ahead of time and to make the buyer aware ahead of time so they are prepared for what may come up.
As a listing agent, to have the seller remain living in the home and paying their bills, if at all possible. If not, to make the buyer's agent aware of the situation.
Communication is always a key element of Real Estate!
Now, who is going to pay for this? Fortunately, my buyer felt it was such a good deal, he was willing to pay it, but not until I tried to get the seller to somehow pay for it. Eventually after a week, it has all been straightened out and we are ready to go back and do the inspection. But now I learned a valuable lesson.
As a buyer's agent, to make sure to check with the listing agent about the status of the seller's living arrangement and whether the bills have been paid ahead of time and to make the buyer aware ahead of time so they are prepared for what may come up.
As a listing agent, to have the seller remain living in the home and paying their bills, if at all possible. If not, to make the buyer's agent aware of the situation.
Communication is always a key element of Real Estate!
Monday, May 3, 2010
Sunday, February 28, 2010
I received my SFR Certification!
I am now an NAR Certified Short Sales and Foreclosure Resource. If you know anyone who is in trouble and wants to sell their house or knows someone wanting to purchase a home that is a short sale, send them my way.
Hopefully the length of short sales will drop so buyers will be more attracted to these types of sales.
Buyers need to be aware now that the timeline can be 3-6 months or even longer to close on these types of properties.
Bank Owned and REOs sell fast especially if you have cash.
There are some great deals available to buyers now. The tax credit, the low interest rates and the low prices are a great reason to buy now!
Have a great day!
Pete
Hopefully the length of short sales will drop so buyers will be more attracted to these types of sales.
Buyers need to be aware now that the timeline can be 3-6 months or even longer to close on these types of properties.
Bank Owned and REOs sell fast especially if you have cash.
There are some great deals available to buyers now. The tax credit, the low interest rates and the low prices are a great reason to buy now!
Have a great day!
Pete
Monday, February 1, 2010
Now is the Time to Buy!
With the First time homebuyers credit, low interest rates, and great prices on nice houses, now is the time to buy!
I just read an article on Interest rates. Check this out. I keep seeing that the Interest Rates are going to rise. I have to tools to show you how much you can save by getting in on these low interest rates now. This will more than offset any drop in prices of properties. So you should not be waiting to buy.
Here is the link to the article. http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=231532
Let me know if I can be of any assistance. You dont have to be looking in Florida for me to give you help.
Have a great day!
Pete
www.yourhomeinstpete.com
pete@yourhomeinstpete.com
I just read an article on Interest rates. Check this out. I keep seeing that the Interest Rates are going to rise. I have to tools to show you how much you can save by getting in on these low interest rates now. This will more than offset any drop in prices of properties. So you should not be waiting to buy.
Here is the link to the article. http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=231532
Let me know if I can be of any assistance. You dont have to be looking in Florida for me to give you help.
Have a great day!
Pete
www.yourhomeinstpete.com
pete@yourhomeinstpete.com
Monday, January 18, 2010
Broker's Open Houses
Every Thursday around noon, the local agents hold open houses for other agents to come and view the properties they have listed to sell.
I always enjoy going to these as it gives me a good idea of what's available and what price they are listed for. It's a great idea to do if you are an agent. It is so important for the buyers to know that you have a good grasp on the inventory when they come knocking on your door to buy. It can also save them time when they ask about a property and you have first hand knowledge of the house. It impresses them.
I saw some very nice homes in the Kenwood section of St. Petersburg this past Thursday. One of them was the largest house (in terms of square footage) and was remodeled beautifully. One of the owners is an artist and had a lot of her own work around the house. There was some fantastic pieces and as you can imagine, the decor and colors inside the house were beautiful.
This is also a great way to get out and meet other agents in the area. Even though we are all looking to sell houses, most agents are always looking to help each other out.
I always look forward to see who is having the open houses and the location. It has really helped me get a good feel for the Real Estate business in St. Petersburg.
And of course, there is always the free food!
Until next blog!
Have a good one!
Pete
P.S. Remember to check out my website.
www.yourhomeinstpete.com
I always enjoy going to these as it gives me a good idea of what's available and what price they are listed for. It's a great idea to do if you are an agent. It is so important for the buyers to know that you have a good grasp on the inventory when they come knocking on your door to buy. It can also save them time when they ask about a property and you have first hand knowledge of the house. It impresses them.
I saw some very nice homes in the Kenwood section of St. Petersburg this past Thursday. One of them was the largest house (in terms of square footage) and was remodeled beautifully. One of the owners is an artist and had a lot of her own work around the house. There was some fantastic pieces and as you can imagine, the decor and colors inside the house were beautiful.
This is also a great way to get out and meet other agents in the area. Even though we are all looking to sell houses, most agents are always looking to help each other out.
I always look forward to see who is having the open houses and the location. It has really helped me get a good feel for the Real Estate business in St. Petersburg.
And of course, there is always the free food!
Until next blog!
Have a good one!
Pete
P.S. Remember to check out my website.
www.yourhomeinstpete.com
Thursday, January 7, 2010
New Year. New Beginning.
Happy New Year to everyone!
I have a good feeling about 2010. I think it is going to be a good year.
There are so many possibilities for the new year.
I am looking forward to a busy year in the Real Estate business.
Short Sales seem to be at the top of the list.
I attended a class today and got some new ideas and some great
advice on handling Short Sales.
Funny thing is that I came home today and my email was filled with
information about Short Sales.
Due to the economic conditions, it appears that the number of short sales
properties will continue to rise.
The one misconception that I find is that people feel that they can get a steal
on a short sale. This is not the case according to the lenders. They want
to minimize their losses so they won't be allowing buyers to buy homes for much
less than the market price. So keep that in mind when you are looking at houses
that are short sales.
I have a good feeling about 2010. I think it is going to be a good year.
There are so many possibilities for the new year.
I am looking forward to a busy year in the Real Estate business.
Short Sales seem to be at the top of the list.
I attended a class today and got some new ideas and some great
advice on handling Short Sales.
Funny thing is that I came home today and my email was filled with
information about Short Sales.
Due to the economic conditions, it appears that the number of short sales
properties will continue to rise.
The one misconception that I find is that people feel that they can get a steal
on a short sale. This is not the case according to the lenders. They want
to minimize their losses so they won't be allowing buyers to buy homes for much
less than the market price. So keep that in mind when you are looking at houses
that are short sales.
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