Archive for the ‘Do BEFORE listing your home a short sale’ Category

Always choose a Professional REALTOR to sell your home

December 15, 2012 1 comment

Whether you are selling your home as a short sale or standard traditional sale with equity, it is important to choose wisely when hiring a Real Estate Professional. Check credentials and experience first.  It could save you headaches and money later.


bus pic 2-2012


Regina Flores, ABR, RMS, SFR, SRS

REALTOR, Broker Associate

RE/Max Direct


SHORT SALES are possible

If you are thinking about selling your home as a short sale there is good news and bad news. The good News is that it does appear the banks are streamlining the Short Sale Process more and this helps us close the sale quicker. The bad news is that Time may be running out on tax relief for your short sale…Mortgage Forgiveness Act runs out Dec 2012. CLICK HERE FOR DETAILS. Now is the time to act if you are thinking about a Short Sale. call today for more info at 760.788.0721.

2 most important factors when selling a home

March 22, 2011 Leave a comment

What are the two most important factors when selling a home?Price and condition are the two most important factors in selling a home, even in a down market. The first step is to price your home correctly. Use comparative sales information from your agent, or pay for a professional appraiser (usually $200 to $300), to objectively evaluate your home’s worth. Second, go through the house and repair any obvious cosmetic defects that could deter a buyer. In a down market, you may have to consider lowering your price and/or making a major repair, such as replacing the roof, in order to lure a buyer. Also, make sure that your home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage and a listing on the local multiple listing service or online listings provider. If this isn’t happening, take it up with your agent or agent’s broker. If you are still not satisfied you are getting the service you need, you may have to switch agents.

Short Sales Tips for Sellers

Short sales are still coming in Ramona and San Diego County. If you are thinking of listing your home as a short sale, give me a call at #760-788-0721 for tips or CLICK HERE TO READ SHORT SALE TIPS FOR SELLERS.

Advantages & Disadvantages of Short Sales

January 17, 2011 Leave a comment

Short Sale Specialist

Thinking of Selling your Home as a Short Sale? Check out these Advantages & Disadvantages of Short Sale first.There are pros and cons of the Short Sale. Every client’s situation is different and needs to be looked at by an experienced Short Sale Agent. When looking for an agent, look for the National Association of Realtors SFR Designation. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.


FPR – Foreclosure Prevention Resources – 5242010
Check out this informative guide to Foreclosures, Short Sale and other alternatives to Foreclosure.

Top 5 Questions to ask your Short Sale Agent before listing your home as a short sale:

April 25, 2010 Leave a comment

Top 5 Important Questions to ask your Short Sale Agent before listing your home as a short sale:
1. Are you educated and certified in short sales or do you hire a negotiator that is?
2. Are you familiar with the area and live close to where this home is listed?
3. How often and WHAT will you be communicating to me in this short sale process?
4. What fees will I be responsible for if bank agrees to short sale?
5. What liabilities and taxes might I be responsible for once short sale closes?

As we all know this is a very tough Real Estate Market, unlike any I have seen in the last 15 years. Ramona Real Estate is no different. Like any other business, Real estate can be broad and not all agents are the same or trained in every area. Many have worked with REO’s and Short Sales, while others have not. Short Sales are a unique niche and require experience and education to execute thoroughly and correctly. There are many pitfalls when dealing with the banks and negotiating these transactions. If I were a buyer looking for an Agent to list my house as a Short Sale, these are the main questions I would ask when interviewing Agents;
1. Are you educated and certified in short sales or do you hire a negotiator that is? This is very important because the agent needs to know how to navigate through an often tumultuous transaction. There is a Designation (SFS) Short Sale that agents can achieve that educates the agents specifically on short sales. In addition, Agents can also hire Short Sale Negotiators as part of their team, these negotiators work only on closing short sale transactions, that is their specialty. They are often better equipped to handle the volume of calls and time and activity that is required to close the sale.
2. Is your Agent familiar with the area and live close to the area where your home is listed for sale? The amount of activity and impromptu calls that agents get to show these homes, in my opinion, requires the agent to be available to show your home when the buyer calls come in. Ask your agent if they show homes 7 days a week or if their assistant assists on their days off. Tomorrow may be too late to show as the buyer is off looking at other homes. Also, how quickly can they get to the house? If your agent lives 40 miles away, not very quickly. Make sure your agent is familiar with your area, in order to share all the great features of living in your town, the agent has to first know the area.
3. How often and WHAT will you be communicating to me in this short sale process? It may be a long drawn out process once your home is listed, because now the negotiations with the bank are just beginning. Typically, short sales can take 3 months to 14 months to close. I just recently closed one after 17 months. It is true, since the HAFVA government regulations, the process is more streamlined and hopefully we will see banks moving more quickly to comply, but it is still a slow process. So remember, have patience and ask your agent HOW, WHEN and WHAT will agent communicate to you while this process unfolds. Do you want to know every detail? Or just the important items such as approvals, prices, terms etc. Will agent be emailing or calling you? What do you prefer? I generally do a weekly email update to keep my clients informed.
4. What fees will I be responsible for if bank agrees to short sale? Be Careful, banks don’t always agree to all fees. Be sure to ask your agent what bank will not pay so there are no surprises at closing. Ask for a seller settlement statement in writing from escrow. This will break down all costs to you.
5. What liabilities and taxes might I be responsible for once short sale closes? You may be responsible for taxes or payments, depending on your bank and your situation. It is always important to seek advice from a Real Estate Short Sale Attorney as well as your CPA when selling your home as a short sale. Remember, REALTOR’s facilitate the sale, we cannot advise you on the tax ramifications or liabilities associated with your particular sale. Only your attorney can look at your unique picture and offer advise, so consult your attorney as well as your CPA because often times there ARE tax implications that occur after the home is sold.
Hopefully this information helps if you are considering a Short Sale. Feel free to call anytime with questions.
Regina Flores, #760-788-0721
copyright-Regina Flores-2010