Highlands County Talk

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Short Sales - Buyers want bargains AND knowledgable professionals

Short Sales - Buyers want bargains AND knowledgable professionals

My husband and I both take the time and made the effort to service short sale clients. We know that not all short sale transactions close and we make sure our seller clients are aware of it, too. We spend a considerable amount of time helping our clients sort out their options and help them make good decisions. We extend the same expertise and knowledge to our buyer clients and we make sure they completely understand the nature of short sales before we search the MLS for short sale bargains.

Here are a few pointers buyers should consider when thinking about shopping for short sales:

1. There are NO seller concessions. The seller is insolvent and will take a hit to his/her credit, the lender is losing money on the transaction. There are NO seller concessions.

2. Every short sale is "AS-IS", there will be no repairs to be paid for by the seller or the lender. The seller is insolvent and will take a hit on his/her credit, the lender is losing money on the transaction. NO repairs will be paid for by the seller or the lender.

3. Your offer needs a "Short Sale Addendum". There are certain provisions such as "Approval of the Lender", "Time Periods" that needed to be made part of the regular Contract for Sale and Purchase (which should be an AS-IS contract or have an AS-IS addendum). This is a good example of why it is beneficial to work with a real estate professional able to navigate a short sale. Your short sale expert will know which addendums to use and why.

4. You need at letter of pre-approval from your lender of other sufficient proof of funds. The seller's lender wants evidence that your are financially able to purchase.

5. Sit back and relax. No kidding! The seller's lender is going to need more time to accept your offer than a seller would. If you are on a time frame, short sales might not be for  you.

 

Copyright Andrea Mills, 2008 "Short Sales - Buyers want bargains AND knowledgable professionals"
www.millsrealestate.net

This article was originally posted on Sebring Real Estate Talk

Buying a home: "You can show us ALL the listings? REALLY?"

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You can show us ALL the listings? REALLY?

Recently, we started working with a buyer who seemed puzzled when we told her that we can show her ALL listings in our MLS, not just our office listings. It made us wonder how many buyers are under the same impression and therefore end up working with several agents.

Why do we show you listings by other offices?
Our job is to find you a home that fits your Needs and suits your Wants. Chances are, we do not have a listing that fits your criteria, but another office does. Again, our job is to find you a home that fits your Needs and suits your Wants - that's all there is to it. For example, if you are looking for a 3 bedroom, 2 bathroom for under $100,000 (and there are plenty of them available), you will be able to pick from EVERY home that fits your criteria, no matter who has the listing.

Isn't it better to work with several agents at the same time?
No! Definetely not! Imagine how much time you will spend calling up several agents, and make appointments with them to see their listings. Each of them will ask your criteria and do a MLS search for you. Sally Selleragent will come up with the same 3 bedroom homes as Bob Buyeragent - after all there's only one MLS and the listprice of any particular home is the same no matter who is doing the search for you. If you feel comfortable with the agent you are working with, stay with that agent!

What is a Buyer's Agreement and why would I sign one?
Real Estate agents have to put food on the table just like you do and they do not get paid for any of their services unless they sell a home. We believe that if we make a commitment to you and take the time and financial resources to find your dreamhome, we can ask you to make a commitment to us. Unlike some other offices, we do not charge you a transaction fee, our services to you are completely free. By signing a Buyer's Agreement you make a commitment to work with us exclusively. Again, there is no fee, no financial commitment. In return, you will receive dedicated service from a trusted friend in real estate.

Greetings, Andrea Mills, who is showing ALL listings by ALL offices in ALL of Highlands County and ALL neighborhing communities.

www.millsrealestate.net
Yes, we are available to help you sell your home.
Yes, we are available to help you find your next home.
Yes, our office is licensed to list & sell mobile homes on rented land.
Yes, we answer our phones, give it a try: 863-202-0729 or 863-386-1111
andrea@millsrealestate.net

$AVE THE COMMISSION - what is a Limited Service Agreement?

What is a "Limited Service Agreement"?

A Limited Service Agreement (in the state of Florida) is basically a flat fee MLS listing. The seller gives the broker the exclusive right to sell the property while still being able to sell on his own. The advantage to the seller is that he saves the listing agent's fee but benefits from access to professional real estate tools. Also, if the seller finds a buyer on his own, he saves the commission for the buyer agent as well.

In case that a buyer agent brings a buyer, the seller will pay the buyer agent a commission as specified in the Limited Service Agreement. This can either be a percentage of the final sale price or a fixed amount. Still, the seller will have saved half the commission.

If you are trying to sell on your own and would like a little professional help but would like to reserve the right to sell on your own, we would like to speak with your about the possibilities of a Limited Service Agreement.w\

Simply drop us a line or give us a call!

Greetings, Andrea Mills, who's always happy to help!

www.millsrealestate.net
Yes, we are available to help you sell your home.
Yes, we are available to help you find your next home.
Yes, our office is licensed to list & sell mobile homes on rented land.
Yes, we answer our phones, give it a try: 863-202-0729 or 863-386-1111
andrea@millsrealestate.net

Distressed Homeowners Beware! You have Options and they are FREE!

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Market Update for November 2008

Highlands County Market Update for November 2008
Single Family Homes, Mobiles on owned/rented land, Townhouses/Villas, Duplexes, Condos

HIGHLANDS COUNTY

Days on the Market: 143
Number of Sales: 80
Average List Price: $158,158
Average Sale Price: $147,044
Sold to Original Ratio: 79.77%
Sold to List Ratio: 92.97%
Absorption Rate: 25.95
Amount of Sales* by Price Range:
Under $100,000:                  37
$100,000-$150,000:           22
$150,000-$200,000:           11
$200,000-$250,000             6
$250,000-$300,000             1
$300,000 and up                  0

AVON PARK

Days on the Market: 146
Number of Sales: 8
Average List Price: $88,606
Average Sale Price: $78,203
Sold to Original Ratio: 75.87%
Sold to List Ratio: 88.26%
Absorption Rate: 26.57
Amount of Sales* by Price Range:
Under $100,000:                  7
$100,000-$150,000:           -
$150,000-$200,000:           -
$200,000-$250,000             -
$250,000-$300,000             -
$300,000 and up                  1

SEBRING

Days on the Market: 113
Number of Sales: 46
Average List Price: $135,560
Average Sale Price: $126,106
Sold to Original Ratio: 81.51%
Sold to List Ratio: 93.02%
Absorption Rate: 26.18
Amount of Sales* by Price Range:
Under $100,000:                  22
$100,000-$150,000:           15
$150,000-$200,000:           9
$200,000-$250,000             3
$250,000-$300,000             -
$300,000 and up                  1

 LAKE PLACID

Days on the Market: 184
Number of Sales: 20
Average List Price: $238,863
Average Sale Price: $224,240
Sold to Original Ratio: 78.62%
Sold to List Ratio: 93.88%
Absorption Rate: 32.23
Amount of Sales* by Price Range:
Under $100,000:                  8
$100,000-$150,000:           12
$150,000-$200,000:           2
$200,000-$250,000             3
$250,000-$300,000             1
$300,000 and up                  3

 

 

Cautioning all sellers: Don't become a victim of foreclosure scams. If it sounds too good to be true, it usually is!

I received the following email:

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I recently saw that you had posted an ad on Craigslist selling your home. With today's economy, many people are trying to sell their home because they're behind on their payment or because their ARM has gone up.
I represent a company that can help you keep your home!
We can help you:

* Re-negotiate your current loan
* Get a payment you can afford

Trust me when I tell you, you are NOT alone. We hear from many people everyday that are simply hitting on hard times but do not wish to lose their largest asset. Over 2 million families will lose their homes this year alone. Don't become just another statistic. Have a look to see how we can help you today!

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

PLEASE, Stay clear of Foreclosure Rescue Scams!

Your mortgage lender or any legitimate financial counselor can help you explore your options in order to avoid foreclosure WITHOUT YOU HAVING TO PAY A FEE FOR THEIR ADVICE!

The OCC (The Office of the Comptroller of the Currency) has posted a Consumer Advisory on their website and its worth reading:
http://www.occ.treas.gov/ftp/ADVISORY/2008-1.html

The Department of Housing and Urban Development (HUD) sponsors housing counseling agencies throughout the country to provide free or low cost advice. Find a counselor near you at their website:
http://www.hud.gov/offices/hsg/sfh/hcc/hccprof14.cfm

Greetings, Andrea Mills, who will be more than happy to talk to you about your options...

www.millsrealestate.net
Yes, we are available to help you sell your home.
Yes, we are available to help you find your next home.
Yes, our office is licensed to list & sell mobile homes on rented land.
Yes, we answer our phones, give it a try: 863-202-0729 or 863-386-1111