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Posts Tagged ‘New York short sales’

Fannie Mae to Banks: You Can’t Cut Broker Commission

Posted in Short Sales, tagged , , , , , , , , , , , , on March 24, 2009 | 1 Comment »

Fannie Mae’s recent edict forbidding the cutting down of the broker commission as part of the short sale negotiation is very good for distressed sellers and buyers, not just the agents. I’ll explain. Naturally, brokers and agents are relieved because it ensures that the considerable time and effort that goes into selling a short sale [...]

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The Divorce: Dutchess County Short Sale

Posted in Short Sales, Success Stories, tagged , , , , , , , , , , , on March 11, 2009 | Leave a Comment »

This short sale closed at the end of this past year. The clients were divorced, and the home they had built while married was incomplete and upside down. The house was listed this past summer. Divorce cases are in and of themselves difficult. I have to give both clients credit in their dealings with me- [...]

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Westchester Short Sales- March Mumbers

Posted in Short Sales, tagged , , , , , , , , , , , , , on March 9, 2009 | 1 Comment »

Unless otherwise indicated, all data in this post is from the Westchester-Putnam Multiple Listing Service. There are 3,454 single family homes actively for sale in Westchester County. Of those, 148 are disclosing either a short sale or foreclosure proceeding in process. This is about 4.3% of the available single family home inventory. The actual number is probably far higher than [...]

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Should Sellers Sign a Contract Prior to Short Sale Approval?

Posted in Short Sales, tagged , , , , , , , , , , , , , , , , , , , , on February 27, 2009 | 2 Comments »

A recent posting from an Ohio broker highlights how real estate differs from place to place. In it, she says that she advises her clients to not sign a contract with a buyer if the house is a short sale prior to getting the bank’s approval. While I won’t quarrel with what works for someone [...]

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Negative Equity Graph for NY Area

Posted in Short Sales, tagged , , , , , , , on February 17, 2009 | Leave a Comment »

Zillow has published a graph on how many homeowners have “negative equity,” or owe more than their home’s value. Not all these home owners are in touble; but the numbers are instructive. As you can see, the downpayment rquirements after 2007 became far more stringent, no doubt due to the sub prime crisis. Negative equity [...]

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