Archive for Real Estate Junkie

Did You Give Up on Short Sales?

Posted on April 11, 2011 by

Webcast with Kimberlee Frank on changes in the short sale industry“When you are through changing, you are through.” ~Bruce Barton

If you are counting on the past real estate trends and regulations to help you close deals today, that is enough to put you out of business. The short sale industry is changing and if you don’t change, your short sales deals will fall apart. NO CLOSINGS = NO CA$H. For the past couple years, I have watched the short sale industry change on a monthly basis for Investors and Realtors. What worked in the past is not working now; what worked in January 2011 is not working now. Since I am a Real Estate Broker and an Investor, I have had to watch with a keen eye in order to adapt quickly and successfully to the changes.

In order to allow your business to grow and be successful, you must also invest the time to “sharpen the saw” and renew the “mind” of your business………for the sake of your business. The only guarantee we have is that change will always continue. It’s scary and often we want to bury our head in the sand and wait until it passes, but that’s not a choice here. We must arm ourselves with education and turn change from our enemy into our friend. Join us Tuesday evening at 7 PM ET on the Real Estate Junkie Webcast to find out how!

Real Estate Junkie Webcast
Tuesday at 7 PM ET
Register Now!
Webcast is FREE!

Read More→

Share

Kimberlee Frank, the Real Estate JunkieIs your business heading to MARS? Have you heard about the new mandatory short sale disclosures? Are you aware of how the new Mortgage Assistance Relief Services (MARS) rule is influencing your business operations? If not, you need to found out now! In November 2010, the FTC (Federal Trade Commission) published the final Mortgage Assistance Relief Services final rule (“MARS rule”). This rule took full effect on January 31, 2011. Whether you are a Realtor, Investor, Mortgage Broker, Seller… you need to know your rights and your obligations! MARS is fully enforced and we want to be sure you are using the new required disclosures and keeping your business in tip-top shape! This is “MUST KNOW NOW” information! Join us on the call for continuing education on the most current and evolving market changes… hear from Licensed Broker and Investor, Kimberlee Frank and Short Sale Expert! Join her on Tuesday, March 8th at 7:00 PM ET. Register for the Webcast Now!

Register Now!

Share

Kimberlee Frank, the Real Estate JunkieAre you having problems getting your BPO or appraisal low enough on your short sale offers? Is the lender saying the house is worth far more than it really is and declining your reasonable short sale payoff offer? Are your short sale offers being rejected because of this? If so, you need to watch this webcast with Kimberlee Frank. On this webcast, Kimberlee talked about how to influence the BPO or appraisal and how to use repair estimates to convince the bank to accept your short sale offer. Read More→

Share

Kimberlee Frank, the Real Estate JunkieDoes the following conversation sound familiar?

MITIGATOR: Our counteroffer is $79,000.

YOU: WHAT? The buyer offered $30,000, which IS current market value and current as-is value! We had the BPO last week, where did the value come in at?

MITIGATOR: It came in at $79,000 so you need to call the buyer and get them as close to $79,000 as possible. We need to net 91% of that, which is $71,100.

YOU: I don’t understand, this house is saturated with pet urine and needs $20,000+ in repairs???

This is a real story of a real deal and the person doing this short sale DID NOT ATTEND THE BPO!!! Do you wonder why the value was so exaggerated? They will go round and round with the lender on this file for the next 4 months until that BPO value expires and they can order a new one. SO… is the BPO a deal-maker or a deal-breaker? The answer is YES!

Are you personally attending each of your BPO appointments armed with an all-inclusive packet for your BPO agent? IF NOT, you are throwing yourself up against a brick wall! Ouch!

Is your BPO producing a short sale value? Make your next BPO your BEST BPO!

Join our call on February 8th at 7pm Eastern and let Kimberlee Frank, the BPO Queen, share her most effective tips regarding influencing the BPO.

Register Now!

Read More→

Share