Mother & Daughter Blog: July 2008

Not just another Weston Ranch home! This is a very nice 2-story Weston Ranch Home for Sale!  This is a must see.

$181,900 Bank Owned Property.  This one won't last!

So bring a little personal TLC and submit your serious offers. 

MLS#: 80067265

WEBSITE: http://www.motheranddaughterrealty.com

• Interested in this property?  CLICK or call
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need a Short Sale Specialist?  CLICK
•  
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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There is a potential in door knocking - for both the agent and homeowners!

When Opportunity Knocks or Walks!

With the foreclosure crisis and the market situation, there are so many homeowners that are in need of real estate services and just don't know how to reach out.  Door knocking is a sure fire way to reach those homeowners.  So pack up your bag of information and get to walking, knocking and essentially opening doors for homeowners that need real estate services!

ANYBODY HOME?  Homeowners if you get an agent that comes to you to help, stop and take a minute to listen.

Door knocking has some key advantages:

• The most well received piece of information that owners enjoy receiving is the neighborhood's recent sold prices and the homes that have sold in the neighborhood.

During this market situation, you should be prepared to either discuss or handout information on the following:

• Pre-Foreclosure
• Short Sales
• Foreclosure
• Bank Owned properties in the neighborhood
• The market / Comps and what is expected in the next few months
•   
• If you find someone that is headed for foreclosure, be sure to advise them to check with their lender first and then if they figure out their option is to sell their property to give you a call.  Always give them the option to seek out options with their lender.

Here are some door knocking suggestions

1.  Prepare a flyer, letter or post card with specific information about your services
2. Include information regarding the neighborhood you are walking
3. Brief yourself on the neighborhood(s) you chose to walk
4. Actually knock on the door, if no one is home - leave on door
5. Reference your website and blog on your handout
6. Bring a supply of business cards, note pad and ink pen
7. Bring water if it is hot (for your safety)
8. Get you small bag to hold your supplies and get going.... Happy walking and knocking!

WEBSITE: http://www.motheranddaughterrealty.com

• Need a Short Sale Specialist?  CLICK
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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Ever been in Short Sale negotiations and had the lender say that their BPO came in higher than what your comps/report on the property is showing?  Ever had them question your current list price?  Here are few tips to consider when you are preparing your Short Sale request package to submit to the lender:

1. Short sale can be considered when the owed amount on the home is less than the value and the bank agrees to write off the difference. 
2. Short sale avoids foreclosure.  
3. Short sales are most common in a declining market. 
4. Short sales can be a win - win in a bad situation: Borrowers can do short sale and avoid just walking away, foreclosure or bankruptcy and bank receives the majority of their money back. 
5. Short sale comps will affect the market - which can be a down side

I don't know about you but I sometimes question the bank's BPO or appraisal report.  

Traditional BPOs usually come in below the current listed price especially when DOM (days on market) is high. 

However:  Short sale BPO are commonly different!  They commonly come in higher than the current list price because of the comps and the lender of course is not going to question a higher report.  The DOM (days on market) and /or your current list price does not weigh much on the bank's BPO because they cannot or do not trust that the property has been exposed enough to obtain higher offers.  There is an assumption that it has not been exposed enough.

Short Sale tips:

• Lender is going to get their own BPO and if the property is over a certain price range - some lenders will also order an appraisal
• Avoid meeting or talking to the bank's BPO agent.  The lender's BPO agent is to remain neutral.  
• Do not offer the bank's BPO agent your comp package, repair estimates or your 2 cents.  Let them do their job without interference from you or the borrower.
• If this does happen, it could really jeopardize your request

• Don't over emphasis DOM and your list price - without showing without a double what the comps are coming at and how long other properties have been on market before they either sold or are pending or still active

• Don't be surprised if the bank's BPO comes in higher than your comps and list price reflect - because it seems it is expected that it will come in high - its common!!

• BIG PLUS: Always let accurate comps dictate the property's list price and your short sale report on the property.  Work at keeping a short sale a win-win situation for the borrowers and of course it will help the bank get this default off their books!

WEBSITE: http://www.motheranddaughterrealty.com

• Need a Short Sale Specialist?  CLICK
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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Well here I am back again - drumming up support for the down payment assistance program - Nehemiah.  I guess HUD has nothing better to do than to keep picking on Nehemiah and trying to get it shut down.  But why?

 Let's Support the Nehemiah Down Payment Assistance Program - help it stay  alive!

• Get educated on how Nehemiah can help with a purchase - be the agent in the know!
• Educate sellers of the benefits
• Educate home buyers of the Nehemiah benefits
• Sign up as an agent for Nehemiah
• Put your listings on Nehemiah website
• Get free signs, brochures and flyers from Nehemiah
• www.getdownpayment.com

What does Nehemiah offer?

• Up to 6% of the final contract sales price for down payment and/or closing costs.
• Available for first-time and repeat homebuyers.
• Approved for new construction and resale homes.
• No geographical restrictions.

For almost every Nehemiah gift - there is a FHA loan, so what is the big deal. Nehemiah has helped to give the FHA loan a boost.  I say "almost" because according to some of my fellow loan officers I hear that Nehemiah can be used with conventional loans as well. Although Nehemiah is California based, it is a nationwide down payment assistance program.

I believe that Nehemiah should be left alone and be able to continue to offer assistance for those that use it for down payment assistance.  The program is successful in  helping homebuyers. The program is for a good cause so there is no legit reason to keep trying to punch holes in it. 

HUD is trying to destroy all down payment assistance programs but the main one is Nehemiah - because they fought back against HUD.  Why must we destroy everything that is good?

Show your support for Nehemiah in every way you can.  Lets keep moving forward, not go backwards.

**************U   P   D   A   T   E   !***************

a new bill, The FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 was introduced by several members of Congress on Thursday, July 31, 2008.  Representatives Maxine Waters, Gary Miller, Al Green and Christopher Shays sponsored this bill that if passed and signed into law will allow downpayment assistance to continue indefinitely. 

Scott Syphax, President and CEO of Nehemiah Corporation of America praised this group earlier today.

"Maxine Waters, Gary Miller, Al Green and Christopher Shays have demonstrated the willingness to understand all sides of this issue and the courage and leadership to follow their conscience.  All those who understand the importance of working class American's having their shot at homeownership, need to work together to encourage our elected officials to pass this bill." 

Click here to help and contact your local elected officials, http://capwiz.com/nehemia/issues/alert/?alertid=11598811

 ************************************************************************

WEBSITE: http://www.motheranddaughterrealty.com

• Need a Short Sale Specialist?  CLICK
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

What is going on in Lathrop, CA?  Although the City of Lathop has been around a long time - the newer homes on the west side of Lathrop have not.  I took a drive through the community and it was not a pretty sight.  The foreclosure crisis has hit there pretty hard on these 2004 to present homes.  The yards are the first sign of foreclosure.  Then there is all the For Sale signs and the yellow or white notices posted on the garages and front doors.  It is not a pretty sight.

All the major home builders are in Lathrop. They even have a town center and just finished with Target at the marketplace. There are big plans to continue that marketplace in the near future.  They have schools, parks, banks, City Hall and other merchants already up and running. Lathrop West is right on Interstate 5 - just minutes from Highway 120 and 99.  Lathrop West is right in the middle between Tracy and Stockton and up the street from Manteca. These homes were built and captured the Location, Location, Location advantage and they sold like pancakes.  But now: You see empty homes, signs, notices, and bad yards all over.

Looks like Lathrop West is following in Stockton (all over) footsteps- the Foreclosure crisis is running wide there in Lathrop too and they are not finished building that community up yet!

WEBSITE: http://www.motheranddaughterrealty.com

• Need a Short Sale Specialist?  CLICK
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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The Miracle Mile in the Stockton, CA

The Miracle Mile a wonderful place to shop, dine and be entertain in this new and revitalized Stockton, California!  The Miracle Mile is a favorite destination for its pedestrian-friendly dining and shopping. Mile dining is a culinary delight offering a whole world of cuisine - American, Chinese, French, Italian, Japanese, Mediterranean, Mexican, Thai, and Vietnamese.

On a stretch of West Pacific Avenue, just past the University of Pacific campus and extending to Harding Way, you will find the Miracle Mile.  The northern boundary begins at the Castle Street intersection and extends south, through the elegant and historic Tuxedo Park neighborhood, to Harding Way.   The Miracle Mile is a shopping oasis with over 100 unique stores, restaurants and businesses with a history that lends to the district's charm.

Commercial real estate agents.... there is plenty of opportunity to sell and obtain businesses for your client at the mile.

For a great time out, "Meet me on the Mile" - Miracle Mile Farmers' Market
When: Each Wednesday, May through October - 4pm - 7pm
Where: Miracle Mile - Pacific & Harding (Bank of America Parking Lot)

The Market will be open every Wednesday from June 4 to October 29 and will feature local farmers, music/entertainment, Mile merchant displays, and other select vendors.

WEBSITE: http://www.motheranddaughterrealty.com

• Need a Short Sale Specialist?  CLICK
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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If you live in Stockton, CA - the odds are there is REO activity in your neighborhood!

Stockton has several zip codes within the city.  Of those zip codes there are several heavily hit by the foreclosure crisis.  This is no surprise to most, but there are still those out there that feel "not in my neighborhood".  And I am here to say yes your neighborhood is hit and most hit hard.

• Stockton has over 130 schools within 4 school districts.
• There are 63 Parks in Stockton
• There are numerous Foster Care Facilities / Health Care Facilities 
• Stockton has several zip codes.  There are heavy hitters:

Let's take 95206: Weston Ranch area.  This area is a family community with several schools, day care facilities and I am sure there are several foster care homes as well.  This is the area that is hit very hard by the foreclosure crisis.  Some families were there when the floods came and they survived that and I am sure there are several families that will be hit with foreclosure but as a whole Weston Ranch will survive. 

The price cut went from "Wow" to "Are you sure" within a few months.  When you drive around Weston Ranch, you see a sign just about every 2/3 homes on almost every street.  You see the yellow lawns with high grass/weeds and you see the citations on the garage door.  You see Notice of Trustee Sale posted on front doors and you real estate signs either in the yards or in the windows all over Weston Ranch.

So when you hear someone say "not in my neighborhood" and they live in Stockton - I'd say either they just don't know or they are in denial or they just don't know --- Stockton homeowners are suffering.

Another heavily hit zip code in Stockton is:  95212 - Morada Ranch area:  This is some of the newer homes in Stockton.  Nice homes (KB Homes, Shea Homes, Meritage Homes, Pulte Homes - it does not matter). These lawns are starting off green but will follow suit with Weston Ranch and become yellow (dead), tall grass/weeds and yes you will soon see more and more signs in the yards and windows in this zip code area too. Most of families here in this area are mandated to keep up their property so if the bank foreclosed and the agent catch the homeowner and offer cash for keys - they may luck up and the homeowner will leave it broom clean and the property is a good one to list.  This is one of the desirable areas of Stockton, so the For Sale signs are not lasting long - if the property is priced right. 

Stockton is situated at the head of a navigable channel, several miles east of the San Joaquin River and approximately 90 miles inland from San Francisco Bay.  The city's strategic location along several waterways is what defined Stockton and its surrounding communities.  Stocktonis the County seat for San Joaquin County.  The City of Stockton is one of California's fastest growing communities. Stockton is currently the 13th largest city in California with a dynamic, multi-ethnic and multi-cultural population of over 260,000.

WEBSITE: http://www.motheranddaughterrealty.com

• Need a Short Sale Specialist?  CLICK
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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Stockton, California - Twice named an All-America City, 1999 and 2004. 

Stockton did not make the Top 10:

• Best Places to Live in US,
• Best Cities for Seniors,
• Best Cities for Dating,
• Worst Cities for Dating or
• Best Green Places

--- HOWEVER, according to Forbes the

Top 10 - Most Miserable Cities in the US are.....

1. Detroit, MI
2. Stockton, CA  (did make this list!)
3. Flint, MI
4. New York,NY
5. Philadelphia, PA
6. Chicago, IL
7. Los Angeles, CA
8. MODESTO,CA
9. Charlotte, NC
10. Providence, R.I

• Did your city make the list? 
• Do you agree with this list?
• What about your city - should it be on this list? 
• What does it take to be on this list? 
• What do you think should be deciding factors to hit the top 10 most miserable cities in the US?
• If we had a Top 20 most miserable cities in the US would your city be listed?
• My last question: are these the heaviest hit by the foreclosure crisis?

WEBSITE: http://www.motheranddaughterrealty.com

• Need a Short Sale Specialist?  CLICK
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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If you are making an offer on a bank owned property -- clean up your offer!  Some buyers are sending in dirty offer??? What does this mean?

Clean offer (results in acceptance, transaction with less complications)

• Offer at least asking price
• Add in to the price any credits that you are asking for (ex: asking price is 300,000 and you are asking for 3% credit for closing = add that to your offer price)
• Give at least $1000 earnest deposit (some banks want at least 1% of offer price)
• Submit with the offer: Pre-Approval letter, Proof of Funds, Copy of earnest deposit check, if you are asking for Nehemiah submit those forms, if you are asking for 1031 Exchange include that paperwork -- give it all up front.
• Do not ask for services:  (ex: Pest inspection fees, Pest inspection repairs, home inspection fees, repairs to property, home warranty, coordinator fees, etc.)
• Ask for no more than 10 day inspection time
• OK to ask the bank to pay: NHD, Escrow fees, title insurance and transfer fees
• Closing date to be REALITY... FHA is going to be at least 45 days; Some conventionals can be closed in 30 days

Dirty offers (results in rejections, delays and cancelations)

•  Low ball offer
• 6% credit for closing, plus Nehemiah fees, FHA/VA loan
• $500 honest deposit
• No pre-approval, no proof of funds, no copy of your earnest deposit check, leaving out important information about the offer such as 1031 exchange, Nehemiah down payment assistance, etc.
• Seller to pay for Pest inspection
• Seller to Pay for termite repair
• Seller to pay for needed repairs
• 17 days inspection time
• Contingencies, contingencies
• Close of escrow: Quick close on FHA/VA loans, even complicated conventional loans is a no-no

Banks do not expect to pay for repairs, they want you to be realistic about closing date (remember they have schedules and goals to set with with property), they are selling their properties at "as is - where is" and is not expecting to do the repairs, not expecting to pay fees and will not be low balled. 

Basically, if you want your offer to be accepted... clean it up!  Agents help your buyers clean up their offers!  Not all of these points apply to every situation.  Think it through.

 Disclaimer: Not all banks think the same.  This information is based on what the banks are looking for... does not mean they won't negotiate.  Each offer is unique and depending on the bank, the day, the week, the amount of time property has been on the market, the condition of the property and of course === once again... the bank.

WEBSITE: http://www.motheranddaughterrealty.com

• Need a Short Sale Specialist?  CLICK
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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I am totally convenienced that Countrywide has no serious intentions of accepting short sales!  They keep you on hold for months and still come up not accepting -- a solid/serious offer-- even when they counter back and the buyer meet the counter!  They still reject the request!

I had a discussion with a Countrywide "negotiator" that I am sure just dropped out of the sky and he just may be on some kind of "calming" drugs that have him out of touch with reality! (seriously). First off, the customer care rep told me (by accident) I am sure that this request had not been "referred" yet.  I asked what did that mean because I had never heard of that process.  She then decided to not go into much more on it because she could tell that I was getting upset that it sounded like the file had just been sitting in a dead position on the negotiator's desk and here it was the day before the trustee sale.... again!

A few hours later that day, I was blessed a call from the "negotiator" himself.  I am sure this "negotiator" --just dropped out of the sky and he just may be on some kind of "calming" drugs that has him out of touch with reality! (seriously).   He called me the day before the trustee sale (only after I had banged up the Countrywide Customer "care" agents earlier in the day) -- and several times during the time that they had the last offer.

He started the conversation with saying.... I already know your argument that we will get more for the property by agreeing to a short sale rather than holding out -- foreclosing and adding our property in the REO numbers.  He continued by telling me all the possible arguments I could present to him.  THEN he started in on the homeowner and how they had gotten behind on the mortgage, etc.  I had to stop him.  He was on a roll!

Then he had the nerve to tell me... he was countering the offer and asking for highest and best from the buyer AND I only had 2 hours to get back to him or he would close the file and the sale would go on (set for the next day).

Short sales are not the easiest transactions to accomplish, but when you find out that the lender just seriously have no intentions of approving a short sale and have keep you on the hanger for months... it is to say the least frustrating.  My heart goes out to the homeowners and of course the buyers that are sitting on the edge of their seats hoping that the deal with go through.  Not to mention the agents - such as myself that put time, energy, money and efforts into provide a full report on the property and will go that extra mile --- only to get shot at the end of the road.

-- Countrywide sucks!

 Suggestion: Document your experience with Countrywide - might come in handy for the (potential) class action suit that is waiting to happen with them! The industry setters that they are!

WEBSITE: http://www.motheranddaughterrealty.com

• Need a Short Sale Specialist?  CLICK
• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide CLICK 
• For a FREE MARKET EVALUATION of your home   CLICK

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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