What is KILLING All the SHORT SALES!!!

Reblogger Kasey & John Boles - Jon Gosche Real Estate
Real Estate Agent with Jon Gosche Real Estate, Boise ID Associate Broker #AB29503
http://actvra.in/B9j

Scott has written a post that is right on about short sales.  My husband, John Boles, is a killer short sale listing agent, so if you are looking to sell a home in the Boise, Idaho area give us a call.  If you are a Buyer, we can help you with at too! 

Original content by Scott Godzyk

The one thing most people agree on is that Short Sales will continue to be a large part of our market for at least the next year. I work on a lot of Short Sales both as a Listing Agent and a Buyer Broker here in the Manchester NH area. The short sale process is not regulated, therefore the way agents handle it varies widely. There are some outlandish trends happening that are making the process frustrating that just do NOT have to be. There is no easy way to say it and this is no time to be polically correct when the result of a poorly handled short sale can lead to foreclosure.

What is KILLING All the SHORT SALES!!!

1. INEXPERIENCED AGENTS Listing them

2. PRICING THE HOME BELOW MARKET VALUE

3. OUT OF TOWN AGENTS taking listings

4. DISCOUNT BROKERS not providing full service

5.  INEXPERIENCED NEGOTIATORS

6. SUBMIITING MULTIPLE OFFERS FOR APPROVAL

7. INCOMPLETE SHORT SALE PACKAGES

8. NO COMMUNICATION OR FOLLOW-UP BY AGENTS

9. UNREALISTIC TIME FRAMES

10. BUYERS WHO ARE NOT EDUCATED WHAT A SHORT SALE IS AND HOW THE PROCESS WORKS.

THE TOP THINGS YOU CAN DO ABOUT IT:

1. CHOOSING A LISTING AGENT: When choosing a listing agnet to conduct a short sales the seller should note that all agents are not created equal. They should also know they have a choice.

a. EXPERIENCE: Choose an agent who is experienced in Listing, Negotiating and Selling Short Sales. This is not the time for "on the job training". Do not settle.

b. CHOOSE ONLY LOCAL AGENTS: Too many home owners see flashy TV commercials and think that is their only choice. It is NOT. Interview and choose a local agent who will be there through each step of the short sale selling process.  

c. FULL TIME AGENTS: Whether Buying or Selling you want and need a FULL TIME agent whose sole job is to assist buyers and sellers with Real Estate.

d. FULL SERVICE: Using a discount Broker could lead to discount services. In a short sale you need every advantage you can. This is not the time tio skimp. For sellers commission is deducted from the proceeds teh bank is willing to accept. Choosing a full service broker does not cost more but could mean the difference between an approval or losing the home.

2. PRICING THE HOME: When listing short sales the practice of listing the home "way under market value" to attract more offers is leading to an increase in short sale rejections. This practice should be avoided as it is not helping out sellers who are losing their homes to foreclosure becuase of it.

3. Some of the trends and practices you should avoid are:

a. Paying up front to List your house as a short sale

b. Paying up front for a negotiator

c. Paying for an appraisal to submit an offer.

d. The bank is not the seller in a short sale - the home owner is the seller.

CONCLUSION FOR BUYERS: If you are considering buying a Short Sale, whether you are in the Manchester NH area, Southern New Hampshire or located aywhere else thoughout this great country of ours, the short sale process is the same. As a buyer there are some things you need to do in order to have an advantage and opportunity to have your short sale approved. The short sale process can be long, it can be frustrating but it does NOT have to be.

 CONCLUSION FOR SELLERS: If you owe more than your house is worth, if you are behind in your payments or if you have to move. A Short Sale could be for you. The most important tips is to list with an agent who is well experienced in listing, negotiating and selling Short Sales. If you live in NH, call me first. I use a professional negotiator that works on the sellers behalf when negiotiating with the bank at no cost to you. Most often the home owner can complete a short sale at no cost to them.

 

It does not take magic to turn your "For Sale" sign into a "Sold" sign. it takes a full time Local Agent who specializes in Listing homes like yours.

 

If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.

Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!
If you need to sell a home in New Hampshire I can be that agent for you. I strive to provide the best personal and professional service through each step of the selling process.

We stand by you through every step in selling your home.

PLEASE SEE SOME OF MY MOST POPULAR BLOGS

 

 
 
 
 
ONE OF NEW HAMPSHIRE'S LEADING AGENTS FOR SHORT SALES AND BANK OWNED HOMES...

If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.

If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.

Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.

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Rainmaker
267,298
Inna Ivchenko
Los Angeles / Valley Homes
Mannis Real Estate Group

Really good post!

i see how many short sale listings are expired ( from local mls), some never even had a single offer....just sad, it is too late to get there.... If an agent does not know how and what to do~ do refer and get your %, don't ruin opportunities for everyone involved in that transaction....

March 14, 2012 11:52 PM
Rainmaker
411,128
Andrea Bedard
M.A.; REALTOR Silver Spring, MD and beyond
Thompson Company Realtors

Hi Kasey, good choice for a reblog. I have to add another one to the list: Seller's remorse! I'm oh-so-close to an approval on one but it suddenly hit the seller that she'll indeed be losing her house. So, she decided to just ignore all communication and is allowing for our contract to fall apart. My buyer is devastated and we all know what the consequences will be for the seller. It's too bad. But that just shows we are not just dealing with numbers but real people, their homes, their dreams, their lives.

March 15, 2012 06:20 AM
Ambassador
777,103
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

Hi Kasey, Great choice of re-post.  I caught this one earlier and agree it's stocked with great information for home buyers and sellers. 

March 15, 2012 06:51 AM
Rainmaker
977,107
Scott Godzyk
One of Manchester NH's Leading Agents
Godzyk Real Estate Services

Thank You for the re-blog Kasey, this was sure one of my most rewarding blogs in which many sellers have been able to take advantage of and get the help they need.

March 15, 2012 09:03 AM
Rainmaker
267,882
Kasey & John Boles - Jon Gosche Real Estate
Boise, Meridian, Ada/Canyon/Gem/Boise Counties
Jon Gosche Real Estate, Boise ID

Sherry, thanks to Scott Godzk for the great post.  He was so concise I didn't have to write it myself!

Inna, it is so sad to see all the expired and cancelled short sale listings. And you are right, you don't want to under price them but there is no reason they can't be reduced to a point that generates an offer.  Sad to have it go into foreclosure without even a chance...

Andrea, you are right.  My husband has a closing ratio in the high 90's - 97% or something like that, but last year he had a divorced couple who were trouble from the start (one of those listings you kick yourself later for taking) and John got it approved, had both sellers on board, they both signed the approval letters and then the ex-wife refused to go to the closing table.  That one really was out of everyone's control and was a bummer.  You are right, we are dealing with real people too, and people that are in a hard time in their life in many cases.

John, I don't re-blog a lot, but when it's good and it's something I would want to write on or have been meaning too and I can't say it better, it's a great option to get the word out.

Scott, what can I say, you are right on on this post.  I couldn't have said it better myself.  Thanks for allowing me to reblog it!

March 15, 2012 10:17 AM
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Kasey & John Boles - Jon Gosche Real Estate

Boise, Meridian, Ada/Canyon/Gem/Boise Counties
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