Comments for Charlotte NC Real Estate http://charlottencrealestate.wordpress.com Information and Homes for sale in the Charlotte Region Fri, 24 Apr 2009 11:36:22 +0000 http://wordpress.com/ hourly 1 Comment on Short Sales on the rise by Ted Burrett http://charlottencrealestate.wordpress.com/2008/07/19/short-sales-on-the-rise/#comment-135 Ted Burrett Fri, 24 Apr 2009 11:36:22 +0000 http://charlottencrealestate.wordpress.com/?p=13#comment-135 Hey, nice tips. I'll buy a bottle of beer to the man from that forum who told me to go to your blog :) Hey, nice tips. I’ll buy a bottle of beer to the man from that forum who told me to go to your blog :)

]]> Comment on Charlotte North Carolina Real Estate is Growing by Laura Jefferson http://charlottencrealestate.wordpress.com/2009/03/18/charlotte-north-carolina-real-estate-is-growing/#comment-134 Laura Jefferson Wed, 22 Apr 2009 14:40:55 +0000 http://charlottencrealestate.wordpress.com/?p=90#comment-134 Great Reveiw on your Charlotte Area. My mom is in Moorsville so I try and keep up with that area. Thanks and Ill be back. Great Reveiw on your Charlotte Area. My mom is in Moorsville so I try and keep up with that area. Thanks and Ill be back.

]]> Comment on Short Sales on the rise by Heartburn Home Remedy http://charlottencrealestate.wordpress.com/2008/07/19/short-sales-on-the-rise/#comment-131 Heartburn Home Remedy Wed, 15 Apr 2009 11:48:31 +0000 http://charlottencrealestate.wordpress.com/?p=13#comment-131 This is very up-to-date information. I'll share it on Delicious. This is very up-to-date information. I’ll share it on Delicious.

]]> Comment on Short Sales on the rise by benfold http://charlottencrealestate.wordpress.com/2008/07/19/short-sales-on-the-rise/#comment-99 benfold Tue, 27 Jan 2009 23:21:35 +0000 http://charlottencrealestate.wordpress.com/?p=13#comment-99 that was supposed to read "3rd party short sale negotiator services" that was supposed to read “3rd party short sale negotiator services”

]]> Comment on Short Sales on the rise by benfold http://charlottencrealestate.wordpress.com/2008/07/19/short-sales-on-the-rise/#comment-98 benfold Tue, 27 Jan 2009 23:19:32 +0000 http://charlottencrealestate.wordpress.com/?p=13#comment-98 Geoffrey, For the past year I have worked for one of the largest banks as a short sale negotiator. I recently decided to find a biz partner and we are now finishing up our llc to bring 3rd short sale negotiator services to area RE agents. Prior to that- 13 years of mortgage lending and RE sales. I think with the volume you mention you, we might have some mutual business we can discuss. I am currently talking to about 5 other agents, 2 attorneys and a title company who are equally interested to see what business networking possibilities exist. It's almost certain the volume/demand will grow, so if you have any interest in talking shoot me an email. benfold71@yahoo.com Geoffrey,
For the past year I have worked for one of the largest banks as a short sale negotiator. I recently decided to find a biz partner and we are now finishing up our llc to bring 3rd short sale negotiator services to area RE agents. Prior to that- 13 years of mortgage lending and RE sales. I think with the volume you mention you, we might have some mutual business we can discuss.
I am currently talking to about 5 other agents, 2 attorneys and a title company who are equally interested to see what business networking possibilities exist.
It’s almost certain the volume/demand will grow, so if you have any interest in talking shoot me an email.
benfold71@yahoo.com

]]> Comment on CATS, building for the Future by Top Real Estates http://charlottencrealestate.wordpress.com/2008/10/27/cats-building-for-the-future/#comment-75 Top Real Estates Sat, 08 Nov 2008 15:26:34 +0000 http://charlottencrealestate.wordpress.com/?p=63#comment-75 I have looked over your blog a few times and I love it. I have looked over your blog a few times and I love it.

]]> Comment on Credit Cards, not an option for long by Chuck http://charlottencrealestate.wordpress.com/2008/10/17/credit-cards-not-an-option-for-long/#comment-40 Chuck Wed, 22 Oct 2008 19:04:19 +0000 http://charlottencrealestate.wordpress.com/?p=55#comment-40 Credit cards are good to have for emergency reasons and certain others, but this is good advice and we should definitely keep an eye on further developments. Credit cards are good to have for emergency reasons and certain others, but this is good advice and we should definitely keep an eye on further developments.

]]> Comment on Retail Coming to Uptown, Finally by Lindsay http://charlottencrealestate.wordpress.com/2008/10/09/retail-coming-to-uptown-finally/#comment-35 Lindsay Fri, 10 Oct 2008 00:59:47 +0000 http://charlottencrealestate.wordpress.com/?p=49#comment-35 Strong retail methods are definitely going to be necessary with all the change that is happening in the cities. I am currently a PR student and I have been reading through a book called "Discovery-Based Retail." You might find it helpful. Strong retail methods are definitely going to be necessary with all the change that is happening in the cities. I am currently a PR student and I have been reading through a book called “Discovery-Based Retail.” You might find it helpful.

]]> Comment on Short Sales on the rise by Geoffrey Lamb http://charlottencrealestate.wordpress.com/2008/07/19/short-sales-on-the-rise/#comment-21 Geoffrey Lamb Wed, 06 Aug 2008 01:10:22 +0000 http://charlottencrealestate.wordpress.com/?p=13#comment-21 Claire, I am sorry that it took me 6 days to notice your post. This blog at wordpress is new and I'm still not familiar with the functions yet. I guess there is a way to have it email me if there is a new post but I just don’t have it set up that way. As for your question, yes, I can help. Your situation is unfortunate and I wish I could say it was shocking but every day, I speak with individuals in Charlotte NC and throughout North Carolina who have had some hardship that is causing them to need to do a short sale. Times are really tough right now for a lot of Americans. Luckily, real estate in Charlotte NC is still holding on and so it’s been easier here to sell a short sale than it has in other places of the country. The first thing you have to remember about the guys at GMAC is that the reps on the phone aren’t well trained. You can’t trust them to actually have firsthand knowledge of what will happen to you during a short sale because chances are; they have only been at their job post for less than a year. They are trained to read the computer screen and those official company policies they tell you about aren’t exactly how it happens in the real world of short sales. Once your name is no longer on that screen, they really have no idea of what happens next. We do. GMAC rarely goes after deficiencies, even though they reserve the right to do it. So you don’t have to worry too much about that but getting them to agree to the Short Sale in the first place may be tough. They’re going to take a big loss here because your home appears to have a current value of only about 50k-60k. The problem you’re facing is the value when you purchased it. You bought it at 67k after 4 other unsuccessful attempts to sell. You were jus the final unfortunate buyer to fall into the trap of this property. No home on Tuckaseegee is worth a 40k remodel unless you get it for a lot less than 67k. At even 60k, you’d essentially be selling and giving to your bank about 50k when it is all said and done. This means that GMAC would have to accept 1-5k as payment in full and then we’d have to get ASC to take a 28k loss on a 78k loan or about 30%. This isn’t going to be easy but certainly possible provided that we have a little time. The good thing is that most banks focus on market values and not as much on their actual loss. In order to get a foreclosure stopped and do a short sale in Charlotte NC or anywhere else, you really need to have at least 3 weeks prior to the foreclosure sale date. Less time than that makes it very unlikely that you can get a bank to delay a foreclosure unless an offer is on the table from a viable buyer. These are all questions I’ll have to ask when we speak. I see that you’re about 4 months behind so that could mean several things and we’ll follow up on that. No matter what, I’ll do my best to help you with your Charlotte Short Sale, just as I have done with hundreds of clients in the past. Call me, or I’ll call you. You can also post a submission to my site which comes directly to me. www.lambrealtors.com Claire, I am sorry that it took me 6 days to notice your post. This blog at wordpress is new and I’m still not familiar with the functions yet. I guess there is a way to have it email me if there is a new post but I just don’t have it set up that way. As for your question, yes, I can help. Your situation is unfortunate and I wish I could say it was shocking but every day, I speak with individuals in Charlotte NC and throughout North Carolina who have had some hardship that is causing them to need to do a short sale. Times are really tough right now for a lot of Americans. Luckily, real estate in Charlotte NC is still holding on and so it’s been easier here to sell a short sale than it has in other places of the country.
The first thing you have to remember about the guys at GMAC is that the reps on the phone aren’t well trained. You can’t trust them to actually have firsthand knowledge of what will happen to you during a short sale because chances are; they have only been at their job post for less than a year. They are trained to read the computer screen and those official company policies they tell you about aren’t exactly how it happens in the real world of short sales. Once your name is no longer on that screen, they really have no idea of what happens next.
We do. GMAC rarely goes after deficiencies, even though they reserve the right to do it. So you don’t have to worry too much about that but getting them to agree to the Short Sale in the first place may be tough. They’re going to take a big loss here because your home appears to have a current value of only about 50k-60k. The problem you’re facing is the value when you purchased it. You bought it at 67k after 4 other unsuccessful attempts to sell. You were jus the final unfortunate buyer to fall into the trap of this property. No home on Tuckaseegee is worth a 40k remodel unless you get it for a lot less than 67k. At even 60k, you’d essentially be selling and giving to your bank about 50k when it is all said and done. This means that GMAC would have to accept 1-5k as payment in full and then we’d have to get ASC to take a 28k loss on a 78k loan or about 30%. This isn’t going to be easy but certainly possible provided that we have a little time. The good thing is that most banks focus on market values and not as much on their actual loss.
In order to get a foreclosure stopped and do a short sale in Charlotte NC or anywhere else, you really need to have at least 3 weeks prior to the foreclosure sale date. Less time than that makes it very unlikely that you can get a bank to delay a foreclosure unless an offer is on the table from a viable buyer. These are all questions I’ll have to ask when we speak. I see that you’re about 4 months behind so that could mean several things and we’ll follow up on that. No matter what, I’ll do my best to help you with your Charlotte Short Sale, just as I have done with hundreds of clients in the past. Call me, or I’ll call you. You can also post a submission to my site which comes directly to me. http://www.lambrealtors.com

]]> Comment on Short Sales on the rise by Claire Sietins http://charlottencrealestate.wordpress.com/2008/07/19/short-sales-on-the-rise/#comment-20 Claire Sietins Wed, 30 Jul 2008 01:01:26 +0000 http://charlottencrealestate.wordpress.com/?p=13#comment-20 I have a rental located at 6307 Tuckaseegee Rd., Charlotte, NC. It is currently occupied by very good tenant since 5/2006. I have to sell it as a pre-foreclosure as I am divorced, had a heart attack, lost my job and cannot keep up the payments. It rents for $850 monthly, is 1400 sq. ft., 3 bedrooms, small den, livingroom, formal dining, kitchen and two full baths. No garage. It's on a large lot. Brown and Glenn Realty is my management company. I purchased this home in 11/2005, for $67K spent close 40K to rehab it and it is nice. I had planned to keep it as a rental. It does require some roof work as the people who put on the new roof did not do it properly where the two angles join (the cricket)....otherwise, it is in very good condition. My first lender, ASC, is owed $78,300 and the second lender, GMAC is owed $22,500. Both have agreed to work with a short sale and are sending me their short sale packages. GMAC's loss mitigation rep told me that if it does not sell for enough to pay them they will not go after a deficiency judgment but will "charge off" the loan. He was answering a question I asked about deficiency judgments. He was extremely sympathetic to my situation and told me not to worry and risk another heart attack! The last payments were made in April. I owe payments from May 1 forward. Are you able to help get this property sold? Thank you for anything you can do. Warmest Regards, Claire Sietins email: claire123@sbcglobal.net I have a rental located at 6307 Tuckaseegee Rd., Charlotte, NC. It is currently occupied by very good tenant since 5/2006. I have to sell it as a pre-foreclosure as I am divorced, had a heart attack, lost my job and cannot keep up the payments. It rents for $850 monthly, is 1400 sq. ft., 3 bedrooms, small den, livingroom, formal dining, kitchen and two full baths. No garage. It’s on a large lot. Brown and Glenn Realty is my management company.

I purchased this home in 11/2005, for $67K spent close 40K to rehab it and it is nice. I had planned to keep it as a rental. It does require some roof work as the people who put on the new roof did not do it properly where the two angles join (the cricket)….otherwise, it is in very good condition.

My first lender, ASC, is owed $78,300 and the second lender, GMAC is owed $22,500. Both have agreed to work with a short sale and are sending me their short sale packages. GMAC’s loss mitigation rep told me that if it does not sell for enough to pay them they will not go after a deficiency judgment but will “charge off” the loan. He was answering a question I asked about deficiency judgments. He was extremely sympathetic to my situation and told me not to worry and risk another heart attack!

The last payments were made in April. I owe payments from May 1 forward.

Are you able to help get this property sold?

Thank you for anything you can do.

Warmest Regards,
Claire Sietins
email: claire123@sbcglobal.net

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