Chase International Is Providing Real Estate Forums
March 14, 2009
The South Lake Tahoe real estate market is ever changing and very complicated. There is so much information regarding short sales, foreclosures, loans, and loan modifications that it is hard to know what is the truth and what is not.
In order to provide home owners and home buyers with answers to their questions, Chase International is providing local real estate forums in Reno, South Lake Tahoe, Truckee/ Tahoe City, and the Carson Valley.
Experts in the following fields will be available to answer you questions at the forums:
Finance and Legal Experts
- Banker/Mortgage Brokers
- Real Estate Attorneys
- Credit Repair Advisors
Default Specialists
- Loan Modification Specialist
- Certified Short-Sale Specialists
- Foreclosure Process
Local real estate professionals will be on hand to answer your questions. You will be able to meet your local experts who can provide you with the options that you need.
Dates and Locations
- RenoThursday, March 26th 6:30-8:30 pm at Chase International 985 Damonte Ranch Parkway, Reno NV
- South Lake Tahoe Saturday, March 28th 10am-Noon at Chase International Elk Point Rd. & Hwy 50, Zepher Cove NV
- Truckee & Tahoe City Saturday, April 4th 10am-Noon at the Hampton Inn 11951 State Hwy 267, Truckee CA
- Carson Valley Saturday, April 18th 10am-Noon at the Carson Valley Inn 1627 Hwy 395, Minden Nv
There is limited space at the forums so call today! If you can not attend any of the forums, pass your questions on to me so that I can either answer them or forward them to the correct expert. There are many options to loosing your house to foreclosure. Do your self a favor and become educated about the options that are available to you!
For more information about South Lake Tahoe Real estate, short sales, or foreclosures in South Lake Tahoe, please contact Brent and Jill Johnson. This South Lake Tahoe real estate blog post was written by Brent Johnson,
Short Sales in South Lake Tahoe
March 13, 2009
With more and more short sale listings on the South Lake Tahoe mls, it is very important to work with an agent that is experienced in short sales. There is a lot of information and time required in order to get a short sale escrow closed. With lenders now willing to negotiate short sales and loan modifications more consistently, foreclosure listings should decrease. With the decrease in foreclosure listings in South Lake Tahoe, buyers looking for deals on houses will need to shift their attention to short sales.
I will be attending another class on short sales on March 17th, and I will be sure to write about what I learn
There are still a lot of real estate agents out there that have not had any experience in short sales and are not taking the time to become educated about the process. It would be a mistake to list your home with one of those agents. Time is of the essence when it comes to short sales and if the listing agent does not understand the process, there is a chance that the lender will just close the file and foreclose on the home.
Working as a buyers agent on a short sale deal can be very frustrating because you are basically on the sideline and can only hope that the listing agent is doing everything that they should be doing to communicate with the lender. There are a lot of tricks and techniques that a knowledgeable short sale agent can apply in order to get a quicker response from the lender.
I look forward to sharing all of the short sale information that I learn from this short sale class next week. I will be writing a lot about short sales in the future because short sales are turning into a huge market share. All of the buyers, sellers, and agents who are not educating themselves about short sales are missing the boat!
If you would like to know more about short sales in South Lake Tahoe, South Lake Tahoe real estate, or foreclosures on the South Lake Tahoe mls, please contact Brent and Jill Johnson!
Short Sale Opportunity in South Lake Tahoe!
January 11, 2009
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Central heat
A short sale package has already been submitted to the lender, so make your best offer! For a list of short sales in South Lake Tahoe, foreclosures in South Lake Tahoe, or any questions regarding South Lake Tahoe real estate, contact Brent and Jill Johnson today!
This listing was added to the South Lake Tahoe real estate blog by South Lake Tahoe real estate agent Brent Johnson.
Short Sales In South Lake Tahoe
August 24, 2008
Short sales are becoming more and more common across the country. A short sale occurs when a lender agrees to accept less than what is owed on the property as payment in full. Short sales have become common due to the decrease in home values, and the popularity of low and no down loans during the recent real estate boom.
Here is an example of an active short sale on the South Lake Tahoe MLS:
1835 Mohican
This home was listed previously for $1,199,000. This is a five bedroom, three and one half bath, three car garage, 3300 square foot home.
This home was recently re-listed for $769,000 as a short sale, and soon after sold for $780,000!
One thing to know about making an offer on a short sale is that your offer may take weeks or even months to get a response from the bank. If the seller and the listing agent have done their job, and submitted a complete short sale package to the lender prior to listing the home, this time period should be shortened. If the seller and the listing agent have not contacted the bank and have not submitted a short sale package, I would be wary of wasting your time with an offer.
A short sale can be a beneficial situation for every one involved. The seller will be getting out from under a payment that he or she can no longer afford, the buyer may be purchasing the home below the current value, and the bank will not have to foreclose on the owner.
The down side to a short sale is that the seller will be damaging their credit score and the bank will be loosing money on the loan discount. Another possibility with short sales is that after a long wait for lender approval, your offer may be declined, and you will have wasted valuable time in this buyers market.
Here is Wikipedias definition of a short sale:
Short sale (real estate)
From Wikipedia, the free encyclopedia
 |
This article needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (September 2008) |
In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.[1] In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank’s Loss mitigation or Workout department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Many Short Sales leave a deficiency balance for which the Mortgagor / Borrower is still liable. In 99% of all cases it is not a settlement-in-full. A deficiency balance will remain while the mortgage broker, real estate agent / broker, loan officers, title and closing agents retain their profit. No regulatory agency governs this hybrid transaction.
Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower’s financial situation.
A short sale typically is executed to prevent a home foreclosure. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, advantages include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency. A short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.
Short sales are common in standard business transactions in recognition that creditors are not doing debtors a favor but, rather, engaging in a business transaction when extending credit. When it makes no business sense or is economically not feasible to retain an asset, businesses default on their loans (called bonds). It is not uncommon for business bonds to trade on the after-market for a small fraction of their face value in realization of the likelihood of these future defaults
