03.20.09 Help Yourself to Some Short Sale Assistance… Before it’s Too Late!
"FORECLOSURES: Dallas-area postings approach record level" was the headline in the business section of Friday's Dallas Morning News.
A headline like that always catches my attention. With more than 5,200 residential properties on the list for auction sales next month, April, 2009 is second only to February, 2008 for the highest number of properties scheduled to foreclose in our area, and this number represents a 30% increase from just one year ago.
These are disconcerting statistics, and while, as a Dallas Short Sale Specialist, I try to keep the number of foreclosures in the DFW Metroplex as low as possible by listing and selling as many homes as possibly can, as Short Sales, I can only help the pre-foreclosure homeowners who reach out to me or respond to my marketing, inquiries and messages. I have had a busy week: 2 closings, 2 executed contracts, 2 new listings coming online this Monday, 3 new listing appointments (2 by phone and 1 face-to-face... and yes, we won all 3) and in all the conversations with new prospective sellers this week, roughly half waited too long to call.
When is the right time to call? When you first realize that you are going to have difficulty making your mortgage payment. We can discuss your options moving forward and position you to speak with your mortgage company from a position of knowledge. We can work to determine if you would be a candidate for a short sale or even if there is a loan modification program that may better suit your needs. We can also discuss what you owe and what your home is worth. Just this week I spoke with a prospective client and he was shocked to learn that he did not need to do a Short Sale because his house was worth much more than he realized. He listed his home with me and will likely walk away with some money in his pocket when it closes.
Compare that with another prospect who called me today, desperate for help. Her home is on the April foreclosure sale list and will be auctioned on the courthouse steps on April 7. Her lender has already extended her sale date once and refuses any further extensions without an executed sales contract. Can I help? Maybe. But in a market where there are comparable homes to hers, also short sales, which have been on the market for 6 months, is her situation likely to end happily in the next 17 days? Unfortunately the odds are strongly against it.
So if you have missed a mortgage payment or are about to, or if you are already facing foreclosure in the future, don't wait to contact me... call or e-mail today! Every day counts, and the more days we have, the more likely that the ending will be a happy one.
- Steve Shatsky
"FORECLOSURES: Dallas-area postings approach record level" was the headline in the business section of Friday's Dallas Morning News.
A headline like that always catches my attention. With more than 5,200 residential properties on the list for auction sales next month, April, 2009 is second only to February, 2008 for the highest number of properties scheduled to foreclose in our area, and this number represents a 30% increase from just one year ago.
These are disconcerting statistics, and while, as a Dallas Short Sale Specialist, I try to keep the number of foreclosures in the DFW Metroplex as low as possible by listing and selling as many homes as possibly can, as Short Sales, I can only help the pre-foreclosure homeowners who reach out to me or respond to my marketing, inquiries and messages. I have had a busy week: 2 closings, 2 executed contracts, 2 new listings coming online this Monday, 3 new listing appointments (2 by phone and 1 face-to-face... and yes, we won all 3) and in all the conversations with new prospective sellers this week, roughly half waited too long to call.
When is the right time to call? When you first realize that you are going to have difficulty making your mortgage payment. We can discuss your options moving forward and position you to speak with your mortgage company from a position of knowledge. We can work to determine if you would be a candidate for a short sale or even if there is a loan modification program that may better suit your needs. We can also discuss what you owe and what your home is worth. Just this week I spoke with a prospective client and he was shocked to learn that he did not need to do a Short Sale because his house was worth much more than he realized. He listed his home with me and will likely walk away with some money in his pocket when it closes.
Compare that with another prospect who called me today, desperate for help. Her home is on the April foreclosure sale list and will be auctioned on the courthouse steps on April 7. Her lender has already extended her sale date once and refuses any further extensions without an executed sales contract. Can I help? Maybe. But in a market where there are comparable homes to hers, also short sales, which have been on the market for 6 months, is her situation likely to end happily in the next 17 days? Unfortunately the odds are strongly against it.
So if you have missed a mortgage payment or are about to, or if you are already facing foreclosure in the future, don't wait to contact me... call or e-mail today! Every day counts, and the more days we have, the more likely that the ending will be a happy one.
- Steve Shatsky
03.01.09 Short Sales: What Kind of Real Estate Agent Do You Need?
Lately, there has been a lot of debate about Short Sales and the types of business transactions that agents choose to work with clients on. It has been of particular interest to me since one of the types of transactions that many agents have expressed an issue with are Short Sales, the type of transaction that I specialize in.
It makes a lot of sense to ask the question, "Am I working with the right agent to deliver the maximum value in my home search or in the sale of my home?" There are quite a few specializations in Real Estate, for example, would you approach an agent who specializes in commercial properties to assist you in the purchase of your new home, or would a residential specialist be a better fit? Would you choose and agent who specializes in urban, high density neighborhoods to help you purchase that rural ranch that you are considering? Would an agent who specializes in working with home buyers be the best choice to engage as your listing agent? Does an agent experienced in traditional transactions possess the knowledge and know-how to successfully navigate and advise you on a Short Sale transaction that could save you from the pain and hassles of foreclosure? These are all good questions, and only you can decide for yourself what makes the most sense and what you are comfortable with.
Don't jeopardize your success by making the wrong decision. Be sure to choose wisely and ask the agent you are considering the questions that will allow you to make that determination. A good agent will not be offended by being interviewed before you sign a Buyer's Representation or Listing Agreement.
I am a Dallas Short Sale Specialist and work with clients listing and marketing both Short Sale and non-Short Sale properties across the Dallas/Fort Worth Metroplex, while my business partner specializes on working with home buyers. As a team, we work with both sellers and buyers, each leveraging our respective strengths to deliver exceptional value and service..
As I frequently advise prospective clients who contact me, ask the agents you may be considering the important questions:
• Are they experienced in the types of transaction you are considering? Remember, there is a considerable difference between traditional transactions and those involving short sales and foreclosure properties and your agent should be able to explain the differences in detail.
• If you are buying a home, are they familiar with the neighborhood or area you are looking at?
• Will they show you all of the properties that meet your criteria, or only those that meet their criteria (e.g. location, type of transaction, commission level, price point)?
Remember, selecting the right real estate agent to assist you can make the difference between a successful transaction, and one that causes you headaches and aggravation.
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Do you qualify for a Short Sale in the Dallas / Fort Worth area? Need to speak with a Short Sale Specialist? Looking to buy in a great Buyer's Market? Please email or call me today for more information. Just click on the "Contact" tab at the top of this page. I will be happy to schedule a consultation so that we can get started on helping you move forward.
- Steve Shatsky
Lately, there has been a lot of debate about Short Sales and the types of business transactions that agents choose to work with clients on. It has been of particular interest to me since one of the types of transactions that many agents have expressed an issue with are Short Sales, the type of transaction that I specialize in.
It makes a lot of sense to ask the question, "Am I working with the right agent to deliver the maximum value in my home search or in the sale of my home?" There are quite a few specializations in Real Estate, for example, would you approach an agent who specializes in commercial properties to assist you in the purchase of your new home, or would a residential specialist be a better fit? Would you choose and agent who specializes in urban, high density neighborhoods to help you purchase that rural ranch that you are considering? Would an agent who specializes in working with home buyers be the best choice to engage as your listing agent? Does an agent experienced in traditional transactions possess the knowledge and know-how to successfully navigate and advise you on a Short Sale transaction that could save you from the pain and hassles of foreclosure? These are all good questions, and only you can decide for yourself what makes the most sense and what you are comfortable with.
Don't jeopardize your success by making the wrong decision. Be sure to choose wisely and ask the agent you are considering the questions that will allow you to make that determination. A good agent will not be offended by being interviewed before you sign a Buyer's Representation or Listing Agreement.
I am a Dallas Short Sale Specialist and work with clients listing and marketing both Short Sale and non-Short Sale properties across the Dallas/Fort Worth Metroplex, while my business partner specializes on working with home buyers. As a team, we work with both sellers and buyers, each leveraging our respective strengths to deliver exceptional value and service..
As I frequently advise prospective clients who contact me, ask the agents you may be considering the important questions:
• Are they experienced in the types of transaction you are considering? Remember, there is a considerable difference between traditional transactions and those involving short sales and foreclosure properties and your agent should be able to explain the differences in detail.
• If you are buying a home, are they familiar with the neighborhood or area you are looking at?
• Will they show you all of the properties that meet your criteria, or only those that meet their criteria (e.g. location, type of transaction, commission level, price point)?
Remember, selecting the right real estate agent to assist you can make the difference between a successful transaction, and one that causes you headaches and aggravation.
- - - - - - - - - - - - - - - - - - - - -
Do you qualify for a Short Sale in the Dallas / Fort Worth area? Need to speak with a Short Sale Specialist? Looking to buy in a great Buyer's Market? Please email or call me today for more information. Just click on the "Contact" tab at the top of this page. I will be happy to schedule a consultation so that we can get started on helping you move forward.
- Steve Shatsky