The Massachusetts Real Estate Guy

The "Un-Christianity" of some "Christian" Real Estate Agents ...

I might get hate email or comment posts for this ... That's okay... I need to get this off my chest...

I REALLY hesitated writing out THIS post, believe me, but this bothers me...

A couple of months ago, I had a phone call from an agent in another part of the country...

Through my blogging, he found me and contacted me concerning a referral he wanted to hand over to me ...

Which I deeply appreciated, don't get me wrong. I was curious as to why he singled me out. I was hoping it was due to my blogging, my qualifications on various important topics in real estate. Maybe he liked my online "personality"... who knows? 

Whatever it was, I was a little "curious"...

So, he called. Asked me the usual. How many years, my area of service. 

Then he asked me a bizarre, really bizarre question. I NEVER imagined THIS question could be construed as a "qualification"...

If this type of question was asked by a potential employer to a job interviewee, I can only imagine the civil right violations and the potential for lawsuits it may have opened up.

"Are you a Christian" real estate agent?  Because my friends, they asked me to find them a "Christian" real estate agent."

Like I said, I was absolutely floored ...

It took me a moment to regain my thoughts. The first thing I thought was  "I'm NOT dealing with THIS jerk."... "Who need this?"
 

He kept asking that same question, "Are you a Christian" real estate agent? over and over again. If anything, I felt he was (unintentionally) sort of "taunting" me ...

I was flabbergasted.  Stunned, was more like it.  I couldn't believe it.  I immediately mentally tried to answer to myself, "what does it matter?"

I mean, we do live in America, don't we?

Plainly speaking, I was insulted.  I didn't want to deal with this narrow minded jerk.

So, I quickly collected myself, and explained I just didn't feel comfortable answering his question. He gave me a long, "drawling" kind of laugh, like he verbally exposed the devil in a lie, and then I told him someone else would be calling him.

In other words, my marketing efforts and blogging made someone else a potential commission because I didn't like the position I was put in by this "Christian"...

A Christian, mind you, who acted very "Un-Christian like".

How Christian? Eh?

What irks me is the indirect discrimination the referring agent practiced. 

I just didn't like it.

Whether or not I'm a Christian has nothing to do with the issue, and I'm not looking to get anyone in trouble. I am looking to expose a very important, very frustrating, issue at hand. The issue of how religion can be used to practice prejudice in a "commission" only, independent contractor status type of hiring. 

LOL, what's even funnier is, up until now, I pretty much have tried to keep religion out of my real estate discussions. Didn't even think of it, to be honest. I mean, really, when you think of it, who cares?

But it's wrong. You know it's wrong. It can be construed as a violation of housing laws.  I want NO part of it, on any end. BUT IT'S WRONG..

I honestly don't even go there, in terms of religion, when dealing with the public. However, I worry about agents like the guy I am writing about, because if he did THAT to me, what did he do to others?

I never considered someone's religion to be of paramount importance when I went to a Doctor, hired or recommended an accountant, a lawyer, chiropractor, or auto mechanic. 

Christian Real Estate Websites have been under fire before for similar allegations, as I found out when I did a "Google" Search.
I guess my gripes were someone else's too, a while ago...

Which begs the question; would most of these "Christian" real estate agents work with non Christians in terms of helping them buy or sell property?

I think you know the answer to that ... and that's what I don't like, the "one sidedness"....

Let me turn the tables and ask, are they saying they are more honest than everyone else?

Does that make everyone who doesn't meet "their" standards liars? Unethical? 

What was that Jesus said? "Let he without sin cast the first stone"

Yeah, right ...

How dare they?

And that, my friend, is the honest "Truth"... no matter what my religion is ... or yours, for that matter....


 

If you access MLSPIN Data, YOU should pay your MLSPIN dues!

I'm going to be a very vocal, very public whistleblower on THIS issue! I pity anyone who crosses paths with me on THIS one!

Recently, it seems there's been a couple of agents and people who access MLSPIN data, and use THIS data overtly and openly without paying their MLSPIN dues!

Well, I'll be darned if I catch someone doing that and I let them get away!

You see, as an agent, I have to PAY quarterly dues to access MLSPIN Data. That's one way MLSPIN gets their money to stay in business.

And that's fine.. What I personally may think of the dues doesn't really matter. If I "wanna play, I have to play"... is pretty much what it all comes down to.

Now, if there's an agent that is affiliated with an office that subscribes to MLSPIN, that agent (all agents) are expected to pay their dues.

I guess there is an exemption for rental agents and personal assistants.

When it comes to personal assistants, I'm all for not charging dues for them. Personal assistants (licensed ones, I assume) are accessing the MLSPIN information to assist the agents that employ them. 

I don't agree with the decision about rental agents. I need more clarification on this, I suppose, however, my view is, if you access MLSPIN to get data, to potentially make money, then you should pay.  However, from what I understand, a rental agent IS exempt from paying dues as long as they are working under a broker of record.

My biggest concern however, isn't with the cost. There is also the SECURITY...

When you join MLSPIN, you can also elect to lease a lockbox "keypad" (depending on membership level). This keypad will allow access to properties that have the "electronic" lockbox on them.  Very safe, very effective way to show property.

There are penalties if an agent "lends" a lockbox to another agent for a showing, and well, there should be.

The lockbox "thinks" the person gained access to a property by reading the information from the keypad. We don't want to mislead the listing agent who's entering the property. There SHOULD BE and I'm GLAD there are fines and penalties.

So, if "Joe" works at Blah Blah Realty, and IS NOT a member of MLSPIN, they call the listing agent to show the property, and if the agent is stupid enough NOT to check and see if the agent is a paying subscriber to MLSPIN, the listing agent has effectively allowed ANYONE off the street access to the home!

That's why I LOVE the showing service I subscribe to. The first question I get from the operator is "May I have your Agent ID Number please?"

MAPass is an OPTIONAL service, and NOT all agents use it. Some agents are VERY security concious and do their job. Some aren't even aware.

Maybe if they read THIS blog post they will be aware!

Getting back to the "saga" of the agent who doesn't belong @ MLSPIN, there are SEVERE penalties and I mean SEVERE, imposed on the broker owners of companies that allow these shenanigans to take place.

First, as mentioned, it's a security issue.  Who am I dealing with?

Secondly, why should I pay and you shouldn't?

In the past couple of months, I've heard of  offers written by these "agents" and of course, they got duly reported (not by me) and their broker owners in turn got fined.  I hear all sorts of nightmares.

I have NO qualms about reporting ANYONE!  It's wrong, and like I said, these offenders can get as smug as they want to be, BUT if anyone of these folks cross MY path, they will get reported!

This week’s comments – The Good, The Bad, The Ugly…

Each week, certain events continue to amaze me…

This week, I approached a couple of owners who are in danger of foreclosure; there seems to be a mass wave of a hypnotic trance that “immobilizes” the majority of them; they won’t call their lender to discuss their situation. If they do, and the results are unfavorable, they won’t consider a short sale.  They won’t seek guidance or advice; pretty much, with the vast majority of them, they bury their head in the sand and act like eventually, this will go away..

It won’t happen that way.  I can understand the “paralysis” these folks go through; however, a time for any action MUST be taken.

Foreclosure is THE worst option anyone takes. Maybe you won’t care about this now, but you;’ll care later. Maybe in 3 years, 5 years, 8 or even more…

You can say anything you want, but the facts are the facts…Eventually, you should care.

… especially when there are SO many resources to help you too..

Chances are, your own lender doesn’t want you to wind up in foreclosure…

It’s like talking to the walls with some of these folks. It’s so frustrating to see this pattern of “self destruction”, repeated on a daily basis.

And now, did you hear the news?  “They’re” expecting a whole new wave of foreclosures, a THIRD WAVE, of foreclosures, to come crashing down…It’s supposedly going to be MORE DEVASTATING, MUCH MORE DEVASTATING, THAN the last two.

It’s expected to be SO bad, that I personally am get involved in the short sale and reo aspect of sales much more intensely than ever.  I swear, I try, I really do; I try to tell people NOT to slide in foreclosure. At least give it a good fight. Don’t do the disappearing act!  Don’t go through the embarrassment of having your name splattered all over the “Notices” section of the local paper (They do print upcoming foreclosure actions, you know).. Wanna be secretive? Do a short sale!

Let me repeat .. If YOU want the Whole World NOT to Know Your situation, THEN DO A SHORT SALE!  You’re going to leave the house one way or another, if you can’t stay! Might as well leave with your dignity intact!

Maybe you’ll even be able to buy another home in a couple of years. Start over again. AT a better market condition for those buying. 

VERY UNLIKELY IF YOU GO WITH THE FORECLOSURE ROUTE!!

Places and cities I personally have NOT seen get bank owned and short sale listings are now starting to creep up. 

There’s NO other way for me to say this. 

I want to “bust” all the misconceptions and fallacies people may have or may have heard of in terms of short sales versus foreclosures.  If you have a problem, call me at 508-365-3581 or email me and let me see if I can help you.  Anywhere in the country. I will get you the help you need through one of my referral networks and contacts.

Sure, I may make a commission or a referral fee.

BUT YOU ALSO GET ME!

Most likely, you won’t pay anything, anyway…

Honestly, I know now how “Ben” felt being surrounded by the zombies in the original classic horror movie;  “Night of the Living Dead”..

I don’t mean to be nasty, and I am trying to say this with a LOT of LOVE, but the frustration of watching people totally give up is very very sad; it “gets” to me.

For every person I may anger with this post, I hope 5 others get the help, advice, and solution they may be able to get.

Technorati Tags: Short Sale,Worcester,Metrowest,help,foreclosure,avoid,massachusetts,Ma,Mass

Unscientific Study: Most Foreclosures I see nowadays are Former Short Sales Mishandled…

I’ve been noticing this and here’s the situation; unless the lender “killed” the sale by potentially cashing out more on the foreclosure if the borrower had PMI (Private Mortgage Insurance) which gave the lender(s) more than what they would make with a short sale,  a good amount of current foreclosures were previously listed, and at sometimes RIDUCULOUS prices, as either short sales or just badly overpriced listings.

Which means there is a responsibility that real estate agents who are Realtors® have to follow, and THAT is;

according to the 2009 Realtors ® Code of Ethics;

Standard of Practice 1-3

Realtors^®, in attempting to secure a listing, shall not deliberately mislead the owner as to market value.

To go to someone’s house and list a property at an overpriced number because “the owner told me” is like allowing “Dr. Kevorkian” to prescribe medication because the patient simply has a bad day…

So, why does this sort of thing happen?

I suspect it has to do with one of the following…

1.  The agent doesn’t know how to do a short sale and figures, “well, this is a hopeless case, anyway, so I’ll just list it and if the miracle of 2009 happens, great! If not, I don’t care anyway, or, at least I tried”…

2.  The agent REALLY doesn’t know what they’re doing …

3.  The Seller gets TOO selfish and says “Hey, if I don’t get anything outta this, let’em take the house.”…

What about the credit rating?

Honest to God, if a seller can sell at a Short Sale, and doesn’t, that is probably one of the dumbest things they do!

You don’t have to be behind in payments to do a short sale! You only have to prove “Hardship!”…

So many people get so much bad advice; so much confusion… It’s ridiculous! 

Yes, short sales are tough!  Yes, short sales are a pain!  Yes, Yes Yes!

BUT..

If it’s the only way, it’s the only way…

I have done a good number of short sales. The process is pretty much the same. The work is brutal. BUT.. The reward is good, and believe me, I’m NOT talking financially speaking. I’m talking the knowledge I helped someone… A negotiated settlement is always better than a court judgment in most cases. At least you know what to expect.  

How Lighting Adds to Home Value

Given the state of the economy, many homeowners simply don’t have the means to undergo major home improvement projects before they decide to put their listing on the market. While many believe that value is only added by tearing a room down and recreating the entire look, it’s simple to take an easier approach to renovating your space through home lighting. Whether the kitchen in need of another task lighting source or you just want to highlight a decorative corner in the living room, it’s best to research some fixture options in order to bring out the very best in your home.

Many families spend a large amount of time cooking and entertaining in the kitchen, an area of the home that requires special attention during light fixture installation. Recessed lighting is a smart option as these bulbs prove to be powerful and effective yet are blended in nicely within the ceiling so as not to take away from the room’s overall style. If your kitchen includes an island, a lighted hanging pot rack or set of decorative pendant lighting will add instant appeal and value for when potential buyers are coming to visit. Pot racks not only feature a decorative light fixture but also give you the opportunity to store your cookware sets in one central location while freeing up countertop and pantry space for other kitchen accessories.

In terms of enhancing your home’s exterior, invest in a set of landscape solar lights to line the front side of your home or along the driveway. For a more decorative option, consider adding a set of post lanterns that are available in a variety of styles from traditional to modern in order to complement your home’s design and provide a safe environment at night. With the simple addition of exterior lighting, you’ll be able to accent each side of your home and garden, creating an attractive curb appeal for potential home buyers in the market.

Where housing is headed...

Interesting article.

I've been very busy lately... Reo's, Short Sales, Multiple offers...

Yup, sorry I lagged in writing posts, but I've been very busy lately, mainly with short sales. 

I think I'll try to at least type a couple of sentences every couple of days, instead of writing a major big post once every so often. Probably easier for everyone to read, too.

Based on activity, I can tell you, properties are "flying" off the shelves!  Some are being sold within the hour! 

It doesn't matter if it's a bank owned or a "human being" owned property. If it's competitively priced, it'll move!

If you prefer to think that's a property being "given away", you stick to your opinion, let me not try to change your mind. I frankly, am too busy.  

But I personally am seeing multiple offer situations, with bids over and sometimes even WAY OVER asking price.  It's a war out there! 

A client who lost out on a couple of multiple offer situations asked me; "I thought it was a buyer's market out there!" 

Yes, my friend, it is.  When you're looking at a property (3 family) that's on the market NOW for $100,000 and probably has offers over $110,000, that's still better than $300,000... what THAT property may have sold for in 2004.

Yup, it's a buyer's market, all right...

I heard rumors that seem to be coming true.  In terms of short sales and reo (bank owned) properties,, I hear that soon enough you will start seeing a reduction in the availability of reo bank owned real estate and a rise in "short sale" properties.  This makes sense, what with the government stepping in and trying to slow down the foreclosure rate.

It's great news BUT "things" need to happen... to make this process smoother.

Number 1, in terms of short sales on government loans, I heard that lenders will be REQUIRED to pay 6%.

Couldn't be happier with that. Any "Realtor" haters out there, go work twice as hard for half salary and THEN stop by and comment on THIS blog....

Number 2, Lenders will NOT be able to pick and choose their own choice of appraisers.  They will have to use an appraiser who will be in a rotating pool.

I can see why this is happening, to reduce lender fraud, and for that, I have NO problem with this. 

However, as a friend of mine, who was previously in the mortgage industry, pointed out to me, it also elevates the appraisers who DON'T know what they're doing or are horrible appraisers to a new level..

I've observed over the years that REPUTABLE lenders tend to pick REPUTABLE appraisers. Scumbags pick Scumbags. "Birds of a feather flock together..."

Well, we'll see how THAT turns out...

I looked all over for more training on short sales.  With the short sales I've done in the past year I can tell you, I've learned a couple of things;

1.  I will either handle the short sales myself or ask my clients to get legal help. As for loss mitigation companies, I couldn't see what extra advantage they bring to the table.  Lenders prefer to work with LICENSED Real Estate agents anyway, in my view.

2. Sometimes lenders pull tricks out of their hats in the last possible minute, like the case I had where they "all of the sudden", in the last day before the closing, wanted the seller to take a non secured loan for a lot of money (let's say for this discussion, $40,000), because when it came down to the nitty gritty they were going to make more by foreclosing the property due to the private mortgage insurance! What a cruel, cruel thing to do in the last minute.

3. What attracts me to short sales the most is not that they are much much more difficult; what attracts me is the fact that a person who does a short sale may be in a position to buy again and start all over in around 2 years!  Having a foreclosure can be devastating....

I think it's about time short sales are standardized and possibly even regulated. Waiting 2 and more months for just an answer from some of these lenders is bad, bad for the buyer, bad for the seller, bad for the lender. Any ideas, anyone?

I've written enough now. Gotta go to an appointment. In the meantime, comment away!

The harder it is to show your unit, the harder it is to sell it...

This is what I had to deal with when I went to show a condo in Framingham yesterday...

Ahem...

In fairness to the agent who had the unit listed that I went to show, he DID in fact have the lockbox labeled, but the above scene, add a heavy downpour, and so on and so forth, IS PLAIN RIDICULOUS!

I mean, come on... really..

Most of these boxes were NOT labeled.  That's the problem.  They should be, with Company, Agent, and Unit Number. Yup. UNIT #.  Unless you are an REO using one of the same stupid combination codes. the unit numbers SHOULD be on the box.

Or get a new code.

Or better yet, use the "Supra" electronic lock box.  They're $20, for Pete's sake!

My client got tired and I can't blame him.  Having to "hold" 6 (I think)  boxes "up" while I was struggling to use the keypad to get the lockbox open (the agent did in fact, use an electronic lockbox, THANK YOU!), in the rain, AND it was getting dark... well, it WAS a scene...

and my client said, "forget it"..

That's okay.. I'll find him something.  However, when I'm going from one property to the other, these little things get ridiculous.. RIDICULOUS!..

and the agent that listed the unit, hey, he did have his box labeled..

Everyone should have... I didn't know he did until I had to look at some of the others.

In the pouring rain...

How to avoid the 10 biggest mistakes Home Sellers make...

Thanks to Lani Rosales from Agent Genius; this video is wonderful and simple; funny to watch and covers all the major points.  A "must see" before placing YOUR property on the market (and hopefully, calling ME up first!)..

"I am thinking of selling,,I want to sell on my own, do you have any advice???"

Last night, I received a very polite email from a reader in the Western part of the state.  I replied back and am reprinted an updated version of my letter here on this blog,  The question is a very basic one;

"I am thinking of selling, I want to sell on my own,  do you have any advice???"

Y'know, I didn't want to respond with a "canned" reply, so I took my time and "slept" on it.  Around 7 am this morning, I replied. Following is my response with some slight changes and additions.

Thanks for your email. I would've responded last night but snow shoveling got to me.  Anyways, let me tackle your question now...

I am going to ask you a couple of questions and I'm only asking so I can isolate your situation for the best answer. #1, why are you selling? and #2, why are you thinking of selling on your own?

Let me give you a couple of answers that may apply and you can email me back if you'd like.  If you NEED to sell, absolutely, must sell, etc, etc, etc, then get yourself a top quality agent. Look at the whole thing this way;  I could fix my car! Since I have NO knowledge on auto repair since any automobiles made after the mid 80's, then it would take me forever. I'd probably waste a lot of money on parts and tools and STILL never get it fixed; then on top of all that money I'm never going to spend, I'll wind up towing the car to a mechanic and pay him, in addition to fixing what was originally wrong with the car, PLUS also fix my additional screw ups and mishandled repairs.

"Most of the FSBO's (for sale by owners) I see pretty much are in this type of boat."

Most of the FSBO's (for sale by owners) I see pretty much are in this type of boat.  It's bad enough the present market conditions make it tough for regular real estate agents to sell their listings; and you want to attempt selling your home in this market environment? The odds are not stacked in your favor. 

Most FSBO's I've been tracking (yes, I do track the "fsbos" in my area) all follow a sad and familiar pattern.  I want to scream,  "Please!!! Please don't do this!  So many others have failed before you!!! Perhaps that's what I'm probably doing with this post.

In some cases, the homeowner has consulted with an agent or agents.  They decide NOT to list with anyone, 'cause they want some monetary figure that no agent can get them. I mean, let's talk the truth here. The 2 biggest reasons sellers think they should try selling on their own is either because they think they won't be able to pay an agency and/or they think it's easier than it seems.  without meaning to potentially insult anyone, I'm sure you've heard the expression concerning defendants in a court house setting that "only a fool represents themselves"... With all due respect I submit to you that the same could be said for a lot of "FSBO's".

Honest and ethical agents tell the truth and do not list "liar" listings, with prices that will never sell.  They walk away if they can't get the property properly priced. In this market (any market, really), you may be giving out "signals" to the buying pool that you're NOT really serious about selling when you are asking an unrealistic amount. It's almost like you're saying; "Go away, until I get serious or until you find a more realistic, sensible buy."  All you are doing by overpricing your property is helping to justify your competition's market position. The ones that are in the same price range with you offer more bang for the buck; the ones you should be competing with are getting looked at. That's WHY a lot of overpriced homes don't even get showings. You or your agent could advertise that sucker on the Tonight Show with Jay Leno; no one will buy it.

The 4 "P"'s of marketing, for the real estate world...

A proper price is only ONE of the 4 p's of marketing; the others are promotion, product, and place. You can also throw in planning as a 5th p.  Let's look at price first.  Without a correct price, everything else collapses.  It will be impossible to promote a product, (your property), and expect to be taken seriously when the asking price is too high. As for  promotion, well, promotion is NOT advertising; it's PART of it...Promotion to me simply means getting the word out.  RUN AWAY from an agent that promises you tons of newspaper advertising!  Why would I or anyone waste our resources in a dying medium?  The serious buyers are all doing internet searches so they won't leave one stone unturned!  That means if you're not in the MLSPIN - Realtor.com search engine, you may as well pretty much forget about it.  An overpriced listing accomplishes NOTHING. And finally, place. Place is where the potential buyers are going to find your product. Place is the real estate agency the product is being handled by.  If your product is not handled correctly, well, that's why you see homes sometimes jumping 2, 3 or even 4 or more comapnies before they finally sell. Sometimes it may have sold for more money if it was handled correctly the first time, like anything else out there. 

If you attempt to sell it on your own, buyers may tend to try to deduct from your proceeds the very same commission you are trying to save. You have to ask yourself, "do I want to spend the commission and have a professional do this for me, with potentially much much less liability involved, or do I want to eventually see the buyer save that money, while I wind up doing all the work and walk on potentially dangerous soil?  So now you may be thinking; "I'll list it with one of those 'put it in MLS yourself' agencies'. 

What sort of a buyer would not want all the services of an agent? 

Is it an investor? A "looky loo?" or an unqualified buyer that has been told by 14 mortgage companies and 17 agents that they are NOT qualified to buy a house!  They decide to look and ONLY look for fsbos since you don't know their situation and you're probably as desperate as they are; after all, why would you be going fsbo?

Maybe they can even convince you to do a "rent to own" deal, eh?

"Most serious buyers I've worked with DO NOT WANT to see or meet the sellers."

Most serious buyers I've worked with DO NOT WANT to see or meet the sellers. The whole thought of this is nerve jarring to them. They don't care about you; the house is a commodity with a little emotion spread on it.  I've actually had buyers instruct me NOT to have the sellers in the house. When the occasional seller "slipped" by, they'd roll their eyes and give me THAT look....

Think that if you're there you can do better than an agent?  I once saw a buyer at a home inspection purposely disparage and demean both the house they were thinking of buying AND THE SELLER, probably because the seller was an elderly lady who was "afraid" of leaving her home. On almost every issue the home inspector brought up, the buyers kept turning and asking the elderly lady, in a borderline sarcastic way "You, you're going to fix that for us too, aren't you?"   Feeling sorry for my client (and doing my duty as a seller's agent in protecting her best interests), I INSISTED the lady and I leave the inspection and go have ice cream (even though I'm lactose intolerant LOL).  Two hours later, the inspection was over, the house was fine, and the buyer conveniently "forgot" all the "issues" they were bringing up to the seller before we left. 

If you're a real estate agent, and today there are many homes to pick from, HOW EXCITED WOULD YOU BE if you placed on deposit a home for your buyer client with someone that probably doesn't really know what they're doing? How much higher would you say there is a chance for liability, even with lawyers involved?  I think some, or most real estate agents get scared of FSBO's NOT because of the work they have to do but because of the potential nightmare they may be facing.  And again, buyers may see you as a "discount"
house and act accordingly.

I can't tell you how many times I've seen the following scenario repeated over and over...

1.  FSBO runs ad in paper and possibly something on the internet. Maybe it's a webpage they do themselves. 

2. 2- 3 weeks go by and they start doing open houses. The majority of respondents are real estate agents.

3.  They start offering the buying side of the commission to buyers agents, not having someone represent their side. (They are their own negotiators)
 
4.  They pay money to "list" their home, complete with a cheap looking sign that looks like a nightmare from Home Shopping Club"..

5.  Nothing happens. Then they may just give up and try the same steps again later on or.. if they REALLY DO NEED TO SELL...

6. Urgency sets in. They finally "break" and list with an agent. The sad thing is if they listed earlier, they may have gotten more. How much more? Well, with the declining market spread over the course of a couple of months, I saw a FSBO lose what I think in my opinion was around $20,000 or even more. Yup.. That much.

"If I have any advice, at least I'd say just price it right and don't spend more than $200 in advertising."

If I have any advice, at least I'd say just price it right and don't spend more than $200 in advertising. The commission you pay isn't just for advertising; it's a professional fee for expert services, NEGOTIATION, and advice. Doctors, Attorneys, etc, all collect professional fees.  If you can't sell it for a realistic price, don't waste your time. The buyer you seek isn't going to come down from the sky to save you.  Even if they did, the banks are sooo conservative today they'd knock the sale out with their appraisal.  Yes, you will find real estate agents that will take your property and put it on the market, and pile up on the market time and do mind numbing open house after open house after open house, but that because they are what a friend and client of mine calls "people pleasing" brokers, who have a hard time saying no and try to make you happy; only problem is, their failure is their unintentional deception and your misery.  This is where you have to interview agents and pick the best qualified. The best qualified is NOT necessarily the highest bidder for your listing.

If you owe more than you can sell for, and are having problems, I can try to help you with both either with a loan modification or a short sale.  You could try to do your own loan modification by checking out hopenow.com.  You don't want to waste week after week after week; those folks are flooded with work now.  Or you could call me and I could take an application over the phone. I submit it to ShortSalesexpress.com and they will tell you if they can do anything for you in terms of lowering your interest rate, your payments, or even in some cases your loan balance.  If you agree and they do this they will charge you. I can tell you it aint cheap but it may be worth it in the long run and it's probably cheaper than refinancing.  I am admittedly not a big fan of loan modification because in a lot of cases it merely delays the problem, and doesn't solve the problem.  Am I telling you to do this? No, I am telling you you may want to try it yourself with hopenow for free.

With a short sale, the bank agrees to release you from the obligation of the loan while they collect less than the loan amount rather than go through foreclosure.  You won't own the house anymore and have to move out, but worst things will happen in a foreclosure. Your credit may not be as adversely affected but this is a case by case assessment.  I would say however that anything is better than a foreclosure.  You may even be able to turn around after a year or so and buy another house, but again, a credit advisor-mortgage officer would be the one to consult.  

Through this blog I hope to provide enough information to help out. If you need to, please do not hesitate to call or email me directly.