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Attention Buyers Agent: We price our properties aggressively from the very begining as soon as we get a new short sale listing. . .but never too low that the bank will reject any offer.. . A low ball offer will not work in this case. . Please advice your buyer about this. . If you have a comparable that we missed and you can validate a much lower price, please submit your offer with this validation so we can pass it to the bank. LOW BALLING our listings will get you a quick negative answer. W... Read Full Post

When doing short sale, one thing I've learned is that there is no room for errors and the consequences could cost your client 7 plus years of bad credit if their property gets foreclosed. If you are the listing agent and you receive more than one offer, it is your job to present these offers to the SELLER not the LENDER! The seller in a short sale is the homeowner and NOT the bank. Don’t make the mistake of assuming that you can bypass the homeowner all together and work for the bank. Our f... Read Full Post

When doing short sale, one thing I've learned is that there is no room for errors and the consequences could cost your client 7 plus years of bad credit if their property gets foreclosed. If you are the listing agent and you receive more than one offer, it is your job to present these offers to the SELLER not the LENDER! The seller in a short sale is the homeowner and NOT the bank. Don’t make the mistake of assuming that you can bypass the homeowner all together and work for the bank. Our f... Read Full Post

Loan Modification Denial: One of the main reasons why Wachovia may deny your loan modification application is simply because you can not afford to live in your current place. Your income is simply not sufficient. You should know that homeowners must meet certain basic qualifications to be eligible for a modification under the Wachovia Program. You must pass their guidelines and the most important one is the 31 percent test. If the the mortgage payments are 31 percent of the homeowner’s mont... Read Full Post

Buying A Foreclosure in Maryland . . it's easy but you'll need good credit Don’t assume that just about any person with average credit can scoop up a foreclosed property. Contrary to popular belief and to get this out of your head. .don't think that those banks are desperate to sell, right now to anyone that comes around.? Well. . . as much as they love to sell these foreclosures-there is an obstacle. Your CREDIT RATING The reason that banks got into this mess to start with it's because of ... Read Full Post

Foreclosure Lists What you should know: Finding foreclosure listings in the Internet can be confusing and costly. You can actually contact the lenders directly to obtain a foreclosures list for your city or county. Then again, you would spend hundreds of hours just searching in all the sites to compile a foreclosures list that will be useful for you., The main advantage of foreclosure listings obtained directly form the lenders is that you know they are quality because they are coming straigh... Read Full Post

Real estate agents. .why you should use them to find foreclosures and short sales in Maryland DC and Virginia Agents usually have the easiest access to properties, that is the obvious thing. .but if you tell them that you are looking for something to purchase and you have not yet gotten an approval from a lending institution, you are probably not going to get much information. The real estate principles of any Realtorcomes NOT from Real Estate School attended but with the experience gained in... Read Full Post

Homes For Sale In Germantown Maryland (Market Report) Germantown Maryland area days on market for single family homes has slowly been creeping down and inching downward over 2008. The Montgomery County days on market is all over the place. We have been seeing fluctuations as high as 300 days but in reality. . the short sales has put a grey cloud in these stats. A lot of short sales remain in the market not because they can’t be SOLD. . simply because the banks are taking their sweet time to... Read Full Post

Finding Frederick MD homes and Real Estate is very easy now with the services offered by Herboso & Associates. Our Buyer's Agents are experts in the Frederick MD real estate market, new homes, schools, and other areas of interest for the relocating family or the first time home buyer. Frederick is nestled just north of Washington DC. I-270 is the inter-connector to the Beltway in the DC area. A lot of families have come to Frederick MD for the small town family atmosphere and yet. . so cl... Read Full Post

When should a short sale be an option for a seller? The obvious reason, a foreclosure can have a devastating impact on someone’s credit report that will have a lasting effect for years to come. A short sale unlike a foreclosure is typically reported on a credit report as a debt that is “settled for an amount less than what is due”. Of course that will cause your credit score to drop but. . it will be nowhere near as bad as the reporting of a foreclosure. The question to ask now is “Wh... Read Full Post