Long Story Short: Short Sales Take a Long Time!
January 3rd, 2009 Categories: Mortgage Stuff, My Listings, Real Estate News, Twin Cities Real Estate Economy
Short sales are commonplace these days and they are a force to be reckoned with. To be honest, I don’t care to delve into these transactions, but every once in a while it is inevitable.
Currently, I have a beautiful “short sale” listing in Minnetonka that clearly states in the agent remarks of the MLS there is a third party negotiator and to call my co-lister for more information. There are a team of professionals who assist me in working with short sales as well as other tedious and difficult transactions.
Here are the nuts and bolts of a short sale:
- A short sale means that you will sell your home for less than your mortgage amount.
- Sometimes you can work out payments with your mortgage company or bank, sometimes not.
- Sometimes your mortgage lender will not agree to even process a short sale.
- Short sales will have a negative effect on your credit score, however, less destructive than a foreclosure.
- There are third party negotiators, in some cases, who will take over the administrative portion of the sale, such as, ordering a broker price opinion (BPO) and coordinating the purchase agreements that come in for the property. This is coordinated through your Realtor.
- The process can be very long and it is important to let the sellers and the buyers know that they had better have some patience if they want to keep the transaction together.
- Get a good Realtor who has a strong team behind her to make the transaction as smooth as possible.
Even though short sales are an ugly part of life, the process can be made a bit more palatable when you have the people working for you and keeping you abreast of what is happening every step of the way. We know what we’re doing and are here to help!
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A Silly Property Repair in North Minneapolis - A New Use for a Pie Tin
January 1st, 2009 Categories: Minneapolis Home Buyers and Sellers, North Minneapolis, Real Estate News
Let’s see…maybe the homeowner didn’t want to get water on the socket so as not to electrocute himself or to short out the circuit. This pie pan is between the socket and the junction box. I just can’t figure out Read the rest of this entry »
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The Secret to Marketing a Home on the Internet
December 31st, 2008 Categories: Minneapolis Home Buyers and Sellers, My Listings, Real Estate News, Twin Cities Home Buyers, Twin City Sellers
As a Realtor, I need to be one step ahead of my competition and always on the ball when it comes to marketing my listings. It is a known fact that 87% of potential home buyers now cruise the internet real estate websites before they call their Realtor. I make sure my listings are in tip-top marketing shape before I present them to the world.
One way that my clients can find out what’s been happening out there in the market besides actual showings of their home is to have me send them some statistics from these websites. We call these “hits”.
I do this every Monday so that it gives them an idea of the traffic that visits their actual listing on line. Since I supply many pictures of the interior of the home, people will “stop by” and take a closer look at the property. I also supply a bold headline and other various marketing tools on Realtor.com. Click here to see this home on Realtor.com so that you know what I mean.
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Flipper Girl’s Latest North Minneapolis Property - Ya Gotta See This!
December 30th, 2008 Categories: Cool Girls, Minneapolis Home Buyers and Sellers, North Minneapolis, Real Estate News, That Flippin' House, Twin Cities Home Buyers
Here she comes again! My talented client, Jennifer (aka Flipper Girl), has just purchased her latest diamond in the rough to transform in to a thing of beauty. This home is your typical craftsman style with natural woodwork, hardwood floors and a nice, big upstairs for a dreamy master suite.
Here are some more before pics…
This is actually the “after” pic. The “before” pic was the one with the Aldi grocery bag on the floor. Here’s a link from Johnny Northside’s website that shows all of the trashy pics.
This will end up being the dreamy master suite. I think Jennifer is going to remove this wall on the right to make for a larger space.
That’s it for now! Just a little teaser of things to come. Stay tuned!
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Hawthorne Neighborhood, Minneapolis, Minnesota…The Good, The Proud and The Strong
December 28th, 2008 Categories: North Minneapolis, Real Estate News
Lots of articles have been written about the terrible crimes that has occurred in North Minneapolis…especially the Hawthorne Neighborhood.
The Hawthorne Neighborhood.
Named after Nathaniel Hawthorne, the famous author who wrote the novel, The Scarlet Letter. You remember Hester Prynne, the young woman who committed adultery back in the 1700’s in Boston, MA.
Funny, isn’t it? This neighborhood that Read the rest of this entry »
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Just a Little Christmas Present From Todd Bracher at Bell Mortgage, a “Best of 2008″ Inductee!
December 19th, 2008 Categories: Cool Guys, Mortgage Stuff, Real Estate News, Twin Cities Home Buyers
We’ve all just about have had it with the predatory lending fiasco. What with the TJ Waconia scandal, BC lending, etc. it’s time to focus on what is right in the world of home buying.
Yes, it’s going to be tougher to buy a home!
You’ll have to work a little harder and save a little more and maybe go to Mom and/or Dad for a loan. If you are ready to buy a home and have done the right things to get yourself to this point, read on!
Here’s a message from Todd Bracher, a top-notch mortgage lender at Bell Mortgage that I have recommended to my first time home buyers. He is reliable and trustworthy…a great combination! he also is on my
“We have had a incredible week in the markets with rates reaching 4.5% earlier in the week. We have come up off of those lows but remain just under 5% currently.
The market is perfect for those first time home buyers. Bell Mortgage has always had a purchases come first mantra. We will never lose sight of our bread and butter Realtor clients.
When the refinances disappear again, so will the brokers that concentrated only on the feeding frenzy that low rates can create in our world.
I will be working through the Holiday Season so if you are in need of any mortgage related help please do not hesitate to call.
Have a HAPPY HOLIDAY SEASON!!!
Todd C. Bracher
Mortgage Banker-Bell Mortgage Trusted Since 1880
Office: 952-591-1880
Cell: 612-221-4677
Fax: 952-591-9060
www.toddbracher.com<http://www.toddbracher.com/>”
Thank you, Todd, for all you’ve done for me and my clients this year! You are on my “Best Of 2008″ list. You rock!
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Jake’s City Grille in Plymouth, MN…So, What’s New? Silly Property Repairs, For One Thing!
December 18th, 2008 Categories: Plymouth "News", Real Estate News, Silly Property Repairs, Taste Minnesota, The Good Life
Here we go again. Another chain in Plymouth.
Not a huge chain like Chili’s or Applebee’s but a chain, none the less. I’ve been to Jake’s City Grille in Eden Prairie a few times. Actually, I’ve had a blast every time I went.
The first time I went was with a really cool lady that I was introduced to by my BNI buddy, John Branstad at Leadership By Design. It was a “blind date” and Read the rest of this entry »
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Thinking of Buying a Home in January? Take a Look at the New FHA Rules That Must Be Met
December 16th, 2008 Categories: Minneapolis Home Buyers and Sellers, Mortgage Stuff, Real Estate News, Twin Cities Home Buyers
First time home buyers, and any home buyer for that matter who chooses to take out an FHA loan, will have to save up a little more cash.
Beginning January 1, 2009 the Housing and Economic Recovery Act of 2008 changed the National Housing Act to read as follows: Read the rest of this entry »
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Count Down to the End of the Year…You Know, The “Best Of” Stuff!
December 12th, 2008 Categories: Cool Guys, Eden Prairie Home Buyers, Real Estate News, Twin Cities Home Buyers
Today is the first of the “Best Of’s” for me in my real estate business this year, 2008. I have some people and things that were-and are-very near and dear to my heart. I will share them with you until the end of the year.
OH, BY THE WAY…THIS HAS BEEN ONE OF MY BEST YEARS OF MY LIFE, NOT TO MENTION MY BUSINESS!
OK, here’s the first, not the least:
Aaron Boyer, First-Time Home Buyer
Aaron is a first-time home buyer that was recommended to me by my BNI buddy, Bridget Lorentz. She is a graphic artist and she has worked with Aaron at Digital River, a top notch internet software programming corporation, in Eden Prairie.
Not only is Aaron one of the nicest guys I’ve ever met, he is also Read the rest of this entry »
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Reason #3 Why Plymouth, MN is Rated as Best Place to Live in the U.S.
December 11th, 2008 Categories: Plymouth "News", Real Estate News
Plymouth, Minnesota boasts some of the prettiest houses in the Twin Cities area. Check out this beautiful home that I have listed. Please feel free to give me a call if you would like to have a personal tour of this property. You can also look at this home at www.JeanieHoholik.com. Otherwise, sit back and enjoy the following video!
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