I work hard every day for my clients by using the most innovative marketing techniques for my listings as well as being diligent on behalf of home buyers to make their dreams happen.

Many agents think a desk and a phone number is all they need to make money in this business. They won’t last in this industry. Many more agents don’t truly understand what it takes or what it means to work on behalf of their clients. I get it.

My track record has been proven day in and day out by happy clients willing to tell the world (or at least people on the web) how happy they were with my services and how confident they are in recommending my services to friends and family. Visit my website and read the Testimonials page to learn more.

Please visit my Community Involvement page to see a list of my involvement in Shiawassee County groups. I am proud to live and work in this community. I don’t believe in utilizing the many resources in this community without giving back to it.

Also call me anytime 989.277.3510.

Get listing alerts for Shiawassee County listings!
Follow me on Twitter! @ForSaleByJeff

By: G. M. Filisko

Published: March 19, 2010

By preparing for a real estate short sale, you can emerge with a great home at a favorable price.

1. Get help from a short sale expert

A real estate agent experienced in short sales can identify which homes are being offered as short sales, help you determine a purchase price, and advise you on what to include in your offer to make the lender view it favorably. Ask agents how many buyers they’ve represented in short sales and, of those, how many successfully closed the transaction.

2. Build a team

Ask agents to recommend real estate attorneys knowledgeable in short sales and title experts. A title officer can do a title search to identify all the liens attached to a property you’re interested in. Because each lienholder must consent to a short sale, a property with multiple liens, like first and second mortgages, mechanic’s and condominium liens, or homeowners association liens, will be harder to purchase.

A title search may cost $250 to $300 up front, but it can help weed out less desirable properties requiring multiple approvals.

3. Know the home’s fair market value

By agreeing to a short sale, lenders are consenting to lose money on the loan they made to the sellers to purchase the home. Their goal is to keep those losses as low as possible. If your offer is dramatically less than the home’s fair market value, it may be rejected. Your agent can help you identify the price that’s good for you. The lender will determine whether approval is in its best interest.

4. Expect delays

There are two stages to a short sale. First, the sellers must consent to your purchase offer. Then they must submit it to their lender, along with documentation to convince the lender to agree to the sale.

The lender approval process can take weeks or months, even longer if the lender counteroffers. Expect bigger delays if several lienholders are involved; each can make a counteroffer or reject your offer.

5. Firm up your financing

Lenders will weigh your ability to close the transaction. If you’re preapproved for a mortgage, have a large downpayment, and can close at any time, they’ll consider your offer stronger than that of a buyer whose financing is less secure.

6. Avoid contingencies

If you must sell your current home before you can close on the short-sale property, or you need to close by a firm deadline, your offer may present too many moving parts for a lender to approve it.

Also, consider ordering an inspection so you’re fully informed about the home. Keep in mind that lenders are unlikely to approve an offer seeking repairs or credits for such work. You’ll probably have to purchase the home “as is,” which means in its present condition.

For more information from a local short sale expert visit http://www.ShiawasseeShortSales.com

This article includes general information about tax laws and consequences, but isn’t intended to be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

 Check out these listings with improved prices: 

111 Oakwood Avenue- http://111oakwood.checkoutmore.com/

2012 Sunset Dr.- http://2012sunset.isnowforsale.com/

1545 N. Chipman Rd.- http://1545chipman.greatcustomhome.com/

608 W. Corunna Ave.- http://608corunna.isnowforsale.com/

200 Mackinaw- http://homes.selleckrealestate.com/view.cfm?mls_id=shiboard&MLS=1001544

 Keep checking  http://www.ForSaleByJeff.net for new listings!

 Need information on where your home stands in this market? Give me a call, we’ll discuss your options to sell! 989-277-3510.

List/Sale Ratio: Up 1% (93.64%)

Days on Market: Down 20% (120)

Average Sale Price: Down 3.5% ($66,862)

Units Sold: Up 8% (505)

If you have any questions about these stats or want more detailed information on how these numbers effect your neighborhood please call Jeff McIntyre at 989-494-1289.

*All statistics derived and unedited from Shiawassee Association of Realtors MLS. Retrieved 1/12/11.

–Gotta Get Movin’

“Today, Governor Granholm vetoed MAR-supported legislation aimed at getting the housing market moving. Senate bill 77, which passed both the House and Senate in the last days of the 2010 session, allowed foreclosed properties to retain their principal residence exemption for a period of up to 3 years. The bill was seen as a stepping stone in getting foreclosed properties, which are non-principaled residences, moving. Currently, a buyer may be priced out of purchasing a foreclosed property because they do not qualify for a mortgage at the higher tax rate. The bill alleviated that burden by allowing the homebuyer to immediately make a foreclosed property their principal residence. The Michigan Association of REALTORS® worked hard through the last hours of session to provide information to legislators as to why this bill was critical for the housing market in this state. MAR is extremely disappointed that this bill was not signed into law, given the opportunity it provided for potential home purchasers. However, we expect legislation addressing the Principal Residence Exemption to be re-introduced next legislative session beginning in January.”

Goodbye Governor. Don’t let the door hit ya…

–Gotta Get Movin’

Click here!

Simple!

–Gotta Get Movin’

Blankets for the homeless and needy.

Need to collect by Jan 9th. Please help.

Organized by “The Service”- Northgate Wesleyan’s Sunday Evening Service.

One month to collect as many new or used blankets to help the needy and homeless this winter.

(please make sure it is at least clean)

If you have a blanket, great! But don’t stop there, ask friends or families, we need to help these people now.

Drop off Points:

Northgate Wesleyan Church 1687 N. M-52 Owosso

Thompson Floors 2049 Corunna Ave. Owosso

Selleck Real Estate 313 N. Washington Owosso (Next to the Post Office)

-Gotta Get Movin’

Jeff McIntyre
989.277.3510
Jeff@ForSaleByJeff.net
http://www.ForSaleByJeff.net

Check out my blog “Movin’ Shiawassee”  at  http://www.JeffMcIntyre.com
Follow me on Twitter! @forsalebyjeff

Be sure to join Shiawassee Real Estate Network on Facebook!

Testing the WordPress App from my HTC EVO. So far so good.

The inventory is still there for buyers.

Activity is still solid for sellers.

Get out there and take part in the market. 

The numbers for Shiawassee County in 2010 as of 8/17/2010:

289 Sold Units

Average Sale Price: $67,790

Average Days On Market: 128 Days- Good number!

Average Sold Price/List Price: 93.69%- Good number!

-Gotta Get Movin’

Jeff McIntyre
989.277.3510
Jeff@ForSaleByJeff.net
http://www.ForSaleByJeff.net

Check out my blog “Movin’ Shiawassee”  at  http://www.JeffMcIntyre.com
Follow me on Twitter! @forsalebyjeff

Be sure to join Shiawassee Real Estate Network on Facebook!