Somebody once said, “There are lies, damn lies and there are statistics.” Basically, what this means is that anyone can take any statistic and use it for their own agenda. A good case in point is the new GSE practice of demanding 100%+ of BPO value on short sales in some markets because of media reports of rising home prices. This is risky, because temporary or minute price index increases do not spell out a stable price recovery. Moreover, the GSE purchase programs for these overvalued...
Posted by joseph_alfe on Nov 26, 2012 | 0 comments
No Replacement for the Mortgage Debt Relief Act yet. Now what?
Ask any real estate professional who handles short sales what is their most pressing concern, and chances are they will point to the fact that as of December 31, the Mortgage Debt Relief Act of 2007 is set to expire. As of today, there is no serious replacement or extension on the table. This has many agents greatly concerned about the future...
Posted by joseph_alfe on Feb 1, 2012 | 0 comments
A short sale rage comic I made
Posted by joseph_alfe on Jan 27, 2012 | 6 comments
Short Sale Road Rules: The Short Sale Listing Presentation
So, you have a short sale lead. Now what? Nothing happens unless you can close the deal, and make no mistake, getting a client to sign your listing agreement is closing a deal. In short sales, there are three “closes” that have to occur in order to be successful:
1. Close the listing presentation
2. Close the lender (Short sale...
Posted by joseph_alfe on Jan 26, 2012 | 2 comments
Listing Agents Role in Short Sales
The following is a a brief supplement to my Listing Presentation article for educating agents on what their role is in the short sale process when using a negotiator. This information is critical to your success in today’s market where short sales are the fastest growing segment of the market. Unlike many short sale courses, we do not teach you how to do...