Smart Short Sales Partner Testimonials

Over the course of this year, I have compiled a handful of testimonials from clients, attorneys AND agents that I have worked successfully with their distressed property in the Savannah area. 

Client Testimonials




Attorney Testimonials




Agent Testimonials

Recovery or Blimp in Housing Crisis?

As you can see it appears from the following graphs that things are starting to get better.  The big  question remains!!  Is this the start of the recovery or is just a blimp?  The issue is that the inventory of all price points appears to be diminishing in Coastal Georgia.  Additionally, there remains the “Phantom Inventory” that everyone continues to talk about.  Hopefully, we are at the bottom.  However, I believe we will remain at the current level until late fall of 2012.  Review all of the following graphs and make your own conclusion.  Let the numbers speak for themselves.

Fannie Mae Rolls Out Online-only REO Offers

The secondary mortgage market company, Fannie Mae, launched an all-online system for submitting offers on its inventory of foreclosed homes in February 2012.  I personally use this system for my REO investors and 1^st time home buyers.

Here’s how Fannie describes it on its HomePath website:

“Making an offer to purchase a HomePath property is now quick, easy and entirely online! Beginning February 2, all offers on HomePath properties must be made using the HomePath Online Offer system. If you’re ready to make an offer, just have your real estate professional click the “Make an Offer” button on the property information and follow the instructions.”

Only licensed agents can make offers, so any consumers shopping for a home on Fannie’s HomePath site have to contact an agent first.  Fannie Mae requires agents submit applications and go through its proprietary selection process in order to become an approved Fannie Mae listing agent.

Every market is different, but generally the company works with a handful of brokers or agents that it has selected to list its REO properties.

Fannie gives owner-occupant buyers a 15-day window after a property comes on the market to make an offer without competition from investors. Offers made by investors during that “first-look” period are rejected from the system with instructions to resubmit after the 15-day period ends, if the property isn’t under contract by that time. The offers are not kept in the system and queued up.

Buyers can use any financing they want, including Fannie Mae financing through its two HomePath mortgage programs, one for purchases and one for purchases with renovation. If the buyer is using HomePath financing, Fannie only requires a down payment of 3 percent, waives the appraisal and also doesn’t require mortgage insurance. Investors can get up to 90 percent financing.

On February 7, 2012, in Breaking News, Mortgage Financing, Selling, by Robert Freedman

New Prudential Real Estate Poll: Americans Increasingly Optimistic about Homeownership

Prudential Real Estate released a new national survey at Sales Convention showing that Americans are significantly more optimistic about homeownership than they were a year ago.

According to the second-annual Prudential Real Estate Outlook Survey, a full 60% of Americans have favorable views toward the real estate market.  That’s up 8 points since last year!

The survey shows that signs of increasing optimism are widespread:

·         With interest rates at historically low levels, 96% agree or somewhat agree that now is a good time to buy.

·         A full 70% of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year.

·         63% believe that real estate is a good investment despite the recent market volatility; that’s up 11 points from last year.

The survey confirms that despite the recession, homeownership remains a central part of the American Dream.  8 in 10 respondents said homeownership is very important to them; only 15% said the economic downturn made homeownership less important.

Explanations for Housing Crisis Situations

Here you can find easy to understand explanations for real estate terminology that deals with our nation's housing crisis. Each video is only several minutes long. As a CDPE Advanced, I am here to help you find a dignified solution.

What is HAFA?

What is a short sale?

What is happens in a foreclosure?

What is a Mortgage Modification?

What is Deficiency Judgement?

Redemption Period Explained

Negative Equity Explained

Arm's Length Explained

What it Means to Be "Upside Down" on Your Mortgage

Taking a break at the Savannah Book Festival

We took the week end off from work and enjoyed the weekend with John Warley and Pat Conroy at the 5th Annual Savannah Book Festival.  John and Pat are delightful individuals and both are a pleasure to be around.  The two have been friends for 40+ since their college days on the Citadel baseball team.  Both were guests of the President's Quarters Inn and entertained us and the other guest for the entire weekend.

The Savannah Book Festival is held annually the 1st weekend after Valentine's Day weekend.  This  date has become one the highlights of the year in Savannah.