Hello, I am looking for a real estate agent in Fremont, CA. Any help would be much appreciated!

2 replies

Hello, I am 23 years old and my husband and I bought our first home in Colorado Springs with a FHA l

Hello, I am 23 years old and my husband and I bought our first home in Colorado Springs with a FHA loan 9 months ago. It was a foreclosure so we got a great price and we did all the renovations ourselves, putting about 12K into it. We owe about 150K on the home but it is worth about 210-220K. We are now considering renting it out and taking advantage of the VA loan to buy another home, in Denver. We feel we will have no problem renting out this home since Colorado Springs is a military own. Is this a good idea to buy a 2nd home? Would we even be approved, one year after buying our first home? Also, he is ‘unemployed’, attending school on the GI Bill so I am the one who is working, and possibly changing jobs soon. How important is job history?

5 replies

Obtain An Experienced Short Sale Specialist

My First Short Sale

Hello and welcome to our blog. We are Kevin Kauffman and Fred Weaver, Arizona’s leading short sale specialists. Thank you for taking time out of your day to check out our blog. We would just like to let you know that we have successfully completed hundreds of short sale transactions at a 90% achievement rate over the last few years. However, this website is not about us. It is about you, the property owner.

It is exceedingly important that you have an specialist on your side that is dealing with your bank who doesn’t just agree with the lender and everything they say. The short sale can be a little bit traumatic to you as a home owner, so we want to provide you some perspective as to why you want a good short sale specialist on your side.

Here is a simple illustration. We have a short sale that has an offer for $50,500 and the lender has a value on the property of $49,500. Observe that the value of the home is in fact less than the offer. So, this transaction should very easily be accepted. The value of the residence comes from a BPO, a brokers price opinion. When you work a short sale, the lender hires an private business to acquire a value for the residence. The lender uses this value to decide whether or not they should employ the short sale or foreclose on the property.

In this specific instance, the bank declined the proposal because the offer was not sufficient. Basically, the bank worker making this choice does not understand the idea of loss mitigation.

Unless you have a real estate specialist on your side that is willing to aggressively pursue the agreement, you may have trouble closing a short sale. In the end, if we did not keep fighting, this residence would have gone to foreclosure.

In general, 20-40% of short sales close successfully. With a 90% achievement rate, we feel like we can be your greatest friend in this situation. We obtain better results than the majority.

We encourage you to come back to the website and contact us. We look forward to dealing with you soon.

Short sale FAQs and more.

Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona