Archive for the 'Ask Julia … Your ?’s Answered' Category
Is There Leeway in Making a Lower offer on a Dunedin Short Sale?
November 11th, 2008 categories: Ask Julia ... Your ?'s Answered
A Dunedin Short Sale Question:
Q: I’m thinking about putting an offer your listing in Baywood Shores MLS 7346686. I see that it’s a bank preapproved short sale at $283k (subject to 3rd party lender 
approval). My question is, how much leeway do you think there is on making a lower offer?
Also, I know that sometimes banks can take several months to accept/deny an offer. Is it because they are waiting to see if they can get a better offer? If so, is there a way to write into a contract that if they receive a better offer during this “waiting period” that we may consider renegotiating ours at a higher bid?
A: Hi Tina - Please give us a call and we’ll fill you in completely on the particulars of where we are with both lenders, other offers, suggested offer amounts, etc.
We are Pinellas short short sale experts and would be happy to fully familiarize you with how short sales work. Generally speaking, the banks are taking so long because they are so overwhelmed with case files that they can’t keep up with the workload. Pinellas short sales are unusual in that the homeowner doesn’t have a vested interest in the amount the home sells for (they just want to know that they are out from under the house payments), so it’s just the lender(s) we are negotiating with. The bright side of this is that the banks Read the rest of this entry »
| Discussion: No Comments »
What happens to Our Ozona, FL Real Estate Values if our Neighbors Do a Short Sale?
August 27th, 2008 categories: Ask Julia ... Your ?'s Answered
Q: What will the sale of our neighbors home do to our value? Two houses in our 
Palm Harbor neighborhood sold under market value as short sales. What does that do to the market value? Both of the houses needed substantial upgrading. We have upgraded our home from top to bottom. Will our efforts at improvement be to no avail? Pat.
A: Pat, I regret to say that these neighboring Palm Harbor home sales will affect your value, but perhaps not as much as you’re concerned about. Pinellas short sales and foreclosures everywhere are a major piece of the puzzle that are driving prices down. A whopping 38% of Pinellas County homes for sale are currently short sales - a growing trend that’s expected to continue full steam ahead through all of 2009 and beyond - and many buyers love them.
Buyers now “want a deal” and are scared about overpaying in a declining market. Even if there weren’t short sales in your neighborhood, rest assured that Pinellas home buyers Read the rest of this entry »
| Discussion: No Comments »
