Posted by Michael Hughes
“The sclerotic process of short sales will become streamlined in the future. Streamlined meaning will take only 2-5 months.”
Are you late on your mortgage payement(s)? Do you have a hardship? Either medical, divorce, loss of job, family issues or any of the multiple others? Why do a Short Sale? That’s easy because it is 5-8 years less (credit) impacting than a foreclosure. Do you qualify? Call me; in about 20 minutes I will know whether you have a great chance of qualifying or not. Regular Boulder real estate or Luxury Boulder real estate many are in danger of foreclosing because of financial and other hardship.Do you think this will impact the market for sellers and buyers?
A Short Sale as opposed to a Foreclosure is much more advantageous for the Seller. Credit reports typically show it as “settled.” Any tax implications to the seller/home owner should be reviewed by their independent real estate attorney or accountant. A 1099C may be issued for the short fall and is handled somewhat differently than a 1099. Pre-foreclosure or short sale involves the sale of the property by the borrower to a third party for less than the amount owed (short sale) to satisfy the delinquent mortgage, as agreed to by the lender, investor and the mortgage insurer. I underline investor as this is where most of the delay happens. While this is getting better all the time due to delegated authority to the lender. Short sales are getting faster and there is no reason to go into foreclosure. Together we can explore all options to foreclosure: Refinance, Financial Counseling, Modification, Short Sale, Deed in Lieu and lastly the “F” word Foreclosure.
If you or anyone you know are 30 days or more late on your/their mortgage payment call me or give them my name and number lets see if we’re a good fit.
If you have questions regarding this article or have any questions about Boulder, Boulder real estate or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.
Posted by Michael Hughes
It’s clear I am not an expert photographer (which is precisely why I hire a professional photographer, just after I schedule the professional stager for my Boulder real estate listings-visuals are often why they sell faster than the average listing), but if the situation dictated that I had to take the DIY path, I am reasonably certain I would remember to close the lid, move the trash can, and relocate, at least temporarily, the couch potato and his dog (not shown for reasons of privacy). The lighting and the content are so poor in these photos.
Clearly this is a discounted broker doing their own photos of this property. I pity the sellers. Talk about taking the band-aid off one hair at a time!
Call me I can help and if you would like to comment or need help buying or selling Boulder Real Estate or if you are interested in Listing and Selling your Boulder Real Estate in a professional manner, please, TEXT, call or email me. You can also visit me at my Website. Thanks for reading. Michael Hughes at Fuller Sotheby’s International Realty-Boulder, CO
When choosing a listing agent you should choose the one that best meshes with your personality. Someone you like and trust.
- How much? Ask potential agents how much they think they can sell your home for. If two agents say $700,000 and the third says $800,000, think hard. It’s likely the high bid is an exaggeration to attract your business. Also it may be someone new to the business. In the trade it’s known as buying a listing. In the end, you’ll be the one who pays because the high price will have you chasing the market not leading it. Also a great question. What is the Absorption Rate for my neighborhood. In other words how many months of inventory is on the market in my price range and how long will it take to be absorbed if it is priced properly. This will help you understand where the market is headed.
- How will you market it? I have numerous ways in which to get the property into the collective consciousness of buyers wanting to buy in your neighborhood. I will also talk about what kinds of people are the most likely buyers and how I will reach out to those specific people. I will show you my marketing plan tailored to your property.
- How has your business changed in the last five years? Can you say wired to the teeth. Smart phones, e-blasts, twitter, linked in, numerous syndicated websites. Exposure, exposure, exposure! At Sotheby’s International Realty-Boulder this has brought in numerous international buyers.
- Tell me how your last two deals surprised you? I have great success stories and would love to tell you more about these.
- How many people are you selling homes for right now and what are you doing for them? It may not be a bad thing that a high-powered agent is juggling 15 homes, but don’t expect him/her to give you personal service, although their assistant should be attentive, you may end up dealing with someone new each time. On the other hand, be wary of an agent with no other customers because they may lack experience and contacts.
- What do you expect of me? A good agent will have expectations. They may want you to leave and take the dog when the house is shown, paint the garage, use their stager, move some furniture around and scrub the tile in the bathroom. It shows that they can think like a buyer and that’s a good thing.
- What advice would you have for me if I get an offer from a buyer who wants to use an FHA loan? It wasn’t very long ago when the right answer might be run the other way, but these days government-guaranteed financing from the Federal Housing Administration, the Department of Veterans Affairs and state and locally managed loan assistance programs can be key to selling a property. Real estate agents shouldn’t be pushing buyers toward their favorite lenders, but they should be able to help them and you wade through complex financing issues.
- What’s your fee? My price of doing business.
- Can I talk to one of your previous clients? I have a list of previous clients upon request.
Michael grew up around Santa Fe and is a longtime resident of Boulder and has been with Sotheby’s International Realty since their inception in Boulder County and along the front range. If you have questions regarding this article or would like information about Boulder real estate or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes is a Certified Negotiation Expert and full time Realtor at Fuller Sotheby’s International Realty in Boulder, CO.