Sidney's Blog

I recently read a great post from one of the regular bloggers on Active Rain. (Thanks Wendy!) That post brought up another fact of the mistake being committed by all the agents that insist on submitting multiple offers. I know the arguments, you need to protect your clients, you need to give the ...

Too often many agents reach the frustration level where I can hear their screams from across the country. The most common complaint? It's a good offer the lender should take it. That pretty much sums up their argument for an approval. The reality is that it is irrelevant if you believe the offer ...

It might be a little to early to make a judgment on the new foreclosure prevention plan announced by the Obama administration but the little I was able to read doesn't give me much hope. The fact that the refinance part of this plan would cover those mortgages that were, at a maximum, 5% over the...

Why does it seem most agents forget about how to practice real estate when a Short Sale is involved? I had a conversation with an agent, here is Florida, where she told me that she accepts multiple CONTRACTS (not offers, because she gets them all signed and with no stipulation of them being back ...

I've been reading other posts in ActiveRain and elsewhere and what I see if pure fear and frustration over handling Short Sales. Just like most other challenges in life, success is found in education and perseverance. Don't follow they crowd in fear in staying away from Short Sales. The last few ...

I've received many inquiries from other agents in my office as to how I can get so many Short Sale leads. The answer to that is quite simple. I don't prospect for Short Sales, I don't target that group. By the time most people are in default they have probably contacted a lawyer or one of those f...

As it becomes a stark reality that this Distressed market will continue for the next several years, the realization of learning how to handle Short Sales becomes a new priority. There are several Short Sale courses on the market for $99 or $77, even free if you buy their documents. The truth to t...

MY BAILOUT PLAN: 1) Give the homeowners who are distressed the opportunity to “re-purchase” their home, at market value, if they can afford it. It that is still too expensive, assist that family with a down payment as in order to give them a chance to purchase another home within their bracket. T...

This is a fun story for me. I have a short sale being negotiated with Countrywide. I also have the buyer who is getting a loan with Countrywide. I have let all the representatives know that this sale could be very beneficial to them since they will turn their money around. Needless to say, the Lo...

In a recent blog, I mentioned how I was told by a lender that we needed to lower our contract price for our short sale because it was higher than what their BPO came back for (How Much?). We lowered the contract price and received out approval from the lender. The file then needed to go to Fannie...