Archive for the ‘Bank Owned’ Category

After several years of experience in Listing and Selling Properties in Northwest Indiana Subject To Lenders Approval of Short Sale, Jeff Safrin, Real Estate Broker/Owner of F.C.Tucker 1st Team Real Estate completed the National Association Of REALTORS requirements for the SFR - Short Sales and Foreclosure Resource Certification Designation.

Every Short Sale is not the same - There are many possible scenario’s that can occur during the complex process of short sale approval (lender’s filing of foreclosure proceedings, bankruptcy court proceedings etc..).

1st hand experience in working through these difficult situations are not taught in the basics of NAR’s class, but in the “school of hard knocks” called life experiences.

Our best  resource for helping you decide whether you choose us to represent you in the sale of your property which may be subject to your lenders approval of a short sale is the recommendation of our past clients or  attorneys who have worked with us during this specific type of real estate transaction.

References available upon request.

The “State of Real Estate” in Indiana is improving…. Here is a video with Market Statistics from Jim Litten – President of F.C.Tucker Co. Indiana’s largest Real Estate Firm with->

F.C.Tucker  Statistics

- 45 Offices

- Over 1300 Sales Associates

- Over $2.1 Billion Sold in 2009

- 14,294 Families Represented in 2009

- 10,489 New Listings in 2009

- 10th Largest Regional Brand in America

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Recently, we closed on some of our listed  homes in Northwest Indiana that were for sale subject to the Lenders approval of a Short Sale. Not all short sales are alike. Each has it’s own set of individual circumstances and obstacles to overcome in getting to the closing table.

These particular short sales closed sooner (less time) than some of our other pending listings that have offers with “traditional” lending involved, in which it is sometimes more common to have underwriting delays nowadays ;(

NW Indiana Short Sale SOLD-26 days from For Sale Sign Up to Signing Documents at the Closing Table.

Valparaiso, IN Short Sale SOLD -33 Days from Receipt of the Buyers Offer to Purchase to Closing the Short Sale Transaction.

We’ve blogged about short sales before, and in our opinion, they are here to stay while. They require much more time, energy, effort, and problem solving than traditional real estate transactions!!! (also our opinion:)

If you are behind on your mortgage payments and considering selling your home subject to your lender approving a short sale, consider giving us a call to discuss the possibility of using our professional services.

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Hasty and Sweeping Generalizations about Short Sales are illogical.

We are Listing and Selling them in reasonable time frames.

With cash deals, some Short sales are closing even quicker than regular listed properties!

Just depends on the lender, cooperation of the seller, qualification of the buyer, and on the experience, knowledge and tenacity of the REALTORS handling the transaction:)

Below are several Homes For Sale in Northwest Indiana that are subject to lenders approval of a Short Sale.

To read More about Short Sales Check out these previous BLOGS about our experiences in getting them done and then give us a call.

Short Sales are Not a Game.

Some Short Sales in Northwest Indiana Real Estate Are Getting Done Quicker & Easier !
Indiana HomeOwner’s facing Short Sale – A New Law that may help!

Short Sale tips that Helped us.

Porter County, Indiana -Valparaiso, IN 46383 Home For Sale – Offer Subject to Lenders Approval of a Short Sale

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La Porte, Indiana – LaPorte, IN 46350 Home For Sale – Offer Subject to Lenders Approval of a Short Sale

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Starke County, Indiana - Bass Lake Area Home For Sale – Offer Subject To Lenders Approval of a Short Sale

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Knox, Indiana 46534 – Fixer Upper Home for Sale – Offer Subject to Lenders Approval of a Short Sale.

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Top 10 Reasons to List Your Home For Sale using the Professional Services of “Spouses Selling Houses” TM…

1) Satisfied Clients

Our proven record of providing clients with the best possible service speaks for itself. Please feel free to read our many client Testimonials @ www.safrin.net

2) Straight Talk

We don’t tell clients what they want to hear if it’s not reality. Last year we turned down as many Listings as we SOLD. In this market, there is a difference between wanting to SELL or wanting to STAY. We work collaboratively with those who are willing to listen to professional suggestions.

3) WYSIWYG - What You See Is What You Get

No Gatekeepers – We answer our own phone calls and give personalized service throughout all phases of your Real Estate Transaction.. No unlicensed personnel or assistants taking your calls, messages or handling the file of one of your life’s biggest investments!

4) Technology

The REAL ESTATE Business is changing. We strive to continually improve our knowledge and keep up with an assertive Internet Marketing Plan and the use of : Social Media Like Twitter, Facebook, Linked-IN, Blogs, SEO, Syndication, Google Ranking, Data tracking- i.e. IP visits/key word analysis.

5) Communication & Follow Up

Having two licensed Real Estate Brokers working for you is an advantage. We place value on keeping our Clients informed.

6) Thinking Outside the Box

In Today’s Challenging Real Estate Market, we have been recognized nationally for our use of innovative strategies to help sellers achieve their goals of Relocation. To read more about this search Google :” Safrin + Reverse Offer “. or read about our successful Short Sale Strategies-> click here

7) Pre-qualify All Buyers we work with

Since day one – we have had this policy! In today’s tight lending environment, it is more important than ever not to waste your time (or ours) by determining ready, willing, and able buyers prior to scheduling a showing on your property.

Value of a Certified Residential Specialist.

Only 4% of REALTORS nationwide have achieved this designation. Not only is extra education a requirement, but proof of a threshold number of successfully closed transactions in a certain time parameter. Grace Safrin is a CRS – read why this makes a difference in marketing your property to sell @ http://www.crs.com/msite/6613688

9) Value of a Top Producer

Title of 1^stVice President of Residential Sales and Life Member of Presidents Club ( our company’s highest honor) is achieved by a disciplined, results oriented work ethic. Jeff Safrin is a consistent top producer both in NW Indiana and statewide.

10) The Power of F.C. Tucker

Founded in 1918 on the “Golden Rule” philosophy, this 3^rd generation family-owned business is the largest and most successful real estate company in the State of Indiana, representing more buyers and sellers than any other company statewide.

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Thanks for stopping by and reading our Northwest Indiana Real Estate Blog!

Sincerely,

Jeff & Grace Safrin – “Spouses Selling Houses” TM

Real Estate Broker/ Owners of F.C. Tucker 1st Team Real Estate-Independently Owned & Operated

Valparaiso residents serving Lake, Porter, La Porte, Counties in NW Indiana.

Earlier this week, Jeff got a call to do another Broker Price Opinion on a deserted Home Facing Foreclosure in Northwest Indiana.

It’s sad to note, that some of these properties have been neglected for a long time, with water damage and mold growing as a result.

Surprising that people wait so long and finally abandon their homes. I often wonder when looking at the damages shown by photos…. if the homeowner tried calling a Real Estate Broker experienced in negotiating short sales early in the game….before it’s too late….or even talked to the lender about loan modification programs to get a lower interest rate before their 1, 3, or 5 year ARM (adjustable rate mortgage) came due?

The bright spot in the trip came when he stopped along the way back home and took this picture of a Swan carefully guarding her NEST….there is no doubt she would fuss and fight if anyone threatened to take it away.

An old Proverb came to mind when I saw this photo :

Proverbs 27:8
⁸Like a bird that wanders from her nest,
So is a man who wanders from his home.

If you are behind or unable to make your mortgage payments – call us to discuss possible options.

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Jeff& GraceSafrin “ Spouses Selling Houses” TM

Real Estate Broker / Owners of F.C. Tucker – 1st Team Real Estate one of 32 offices Independently owned and operated affiliated with F.C.Tucker- Indiana’s Largest Real Estate Company (established1918).

If we can help you find a home or land in NW Indiana, give us a call @ 219-405-1232 – we are Full Time Full Service Real Estate Brokers serving Lake, Porter, La Porte Counties.

On Facebook ?…… be-friend us – look up Jeff Safrin : )

Linked in ??….. link to us… look up Grace Safrin : )

TWITTER?? …Follow…. SAFRIN

Our Listings of REO or Bank Owned Properties For Sale are selling quickly in Northwest Indiana.

Recently we had a listing which was under contract in only 14 days on the market, and closed 27 days later.

However – there was much time, energy and effort by us behind the scenes working collaboratively with the REO specialist at the bank which took months PRIOR to this happening!

This included:

Doing Broker Price Opinion’s in both an “as-is” condition AND another BPO with repair estimates included.

This required meeting multiple licensed contractors at the property in order to provide detailed written quotes on any Repairs or Mold remediation.

Submitting these to the REO Manager (on Bank Forms) and awaiting the file to be returned from committee for decision on what work will actually be doneand the decision on listing price, takes persistent follow up skills.

Detailed Photos (before and after) and invoicingmust be kept & shared with the bank contact.

Also, the REO department has specific Bank Contracts and Addendum’s that differ from our State or Local Board Real Estate agreements and these must be reviewed carefully.

Sometimes, customary fee’s like Title Insurance, are NOT customary , but negotiable!

Financing REO Properties is another topic in and of itself these days

Mortgage departments familiar with this ever growing trend of Real Estate sales are sharing their specific requirements for internal financing of REO properties which may or may not differ from their Local lending branches for conventional home sales.

All in all, in our opinion here are the keys to a quick REO sale ->

• Competitive Market Price- a Real Estate Broker experienced in BPO’s can help set this!
• Decent Property Condition – a home in which health or safety concerns have been addressed & corrected sells quicker!
• Mass Marketing efforts / Internet sydication of the listing from day one of going on the market- multiple showings and competition among qualified buyers yields better offers (a Certified Residential Specialist can help with this
• Excellent communication,attention to details, and meticulous follow through by the Listing Agent (s) of Record are needed in this current market to get deals to the closing table!

If you are a Bank or Lender who has Inventory of Foreclosed Homes in NW Indiana and are looking? to move them quickly, please call us for a confidential consultation. References available on request.

Thanks for stopping by and reading our Blog about Life in NW Indiana, The Housing Market, Communities, Local Sports, Events, attractions & more @ NorthWestIndianaRealEstateBlog.com

 Sincerely,

Jeff & Grace Safrin,  Broker / Owners

F.C.Tucker 1st Team Real Estate – Independently Owned & Operated

13 Lincolnway Suite # 203,  Valparaiso, IN 46383          Office # 219-309-9930