5 Short sale Myths

Short Sale Myth # 1: That there is anything typicial, standard or normal when it comes to getting a Short Sale approved?

No, typicial is not in the venacular for these transactions.
The bank is the power broker in Short sales. They can respond to an offer any way they want. "They may counter at a much higher price and demand a cash payment from the seller. Or not. They may take weeks or they may take six months. They may approve a way below asking offer, or require a hundred thousand over the asking price. Forget the idea of standard, when it comes to a short sale."

Short Sales can be touture or easy, there is no way to tell.

Uncle Fred

Real Estate Myth #4

Myth # 4: The Agent with the most listings in town is the best agent to call.
Yes and No. Some agents specialize in listing properties and some agents specialize in working with buyers. An agent with a lot of listings may not have time to work with buyers who want to see properties other than theirs.

Many agents now use a team effort so time may not be an issue.

A competent agent can be every bit as effective a listing king. Working with fewer clients, he or she will have your needs on the front burner. Hire the Person not a lineup of listings.

Uncle Fred

Next up Myths on Short Sales

Real Estate Myth # 3

Myth # 3: I can find more homes for sale by calling more than 1 agent!

It is possible but unlikely. Like any industry the are Great Agents, Average Agents, and Below Average Agents. Some agents specialise in neighborhoods, cities or other specific areas. Almost all agents have access to the Multiple Listing Service in their area, which means that they all have access to the same # of homes.
If you selected a Great or Average Agent, you will be better off than to have more than on agent, because they will duplicate their and your efforts.

Today, if you are Internet savvy, you can narrow the search yourself. However, a Realtor should know the little things that make a neighborhood suitable for you. They are there to serve you, so take advantage of their expertise.

Uncle Fred

Real Estate Myth 2 from Military.com

The agent told me I had to sign a Buyers Agency Agreement, before he could work with me. In Delaware the Agent must read to you and give you a copy of a Consumer Information Statement(CIS) before he can work with you. The Buyers Agency Agreement is desired by most agents, because sometimes customers work with many agents, and all agents are paid by commission off the sale of a home.

You should interview several Agents to see how well you get along with them. You want to have a trusting relationship with your agent and with your mortgage agent as well. Only sign a Buyers Agency Agreement with the agent of your choice.

You really don't need to sign one, but it does define the proper relationship between you and the Agent. I only ask customers to sign one after we have spent at least a day with them, and then it is their choice.

If some Agent demand you sign one, I would look for another agent.

Uncle Fred

Myths-Real Estate Agents

The link above gives and interesting account of working with Real Estate Agents.

Myth 1: "I'll get the best deal on the house I want if I only call the agent listed on the For Sale Sign." The Listing Agent's job is to get the best possible price for the Seller. If you use him/her you have what we call a Dual Agent, in Delaware. In that instance, the Agent must inform both the Buyer and Seller that he/she is acting as a Dual Agent and must be Fair to both sides like Solomon, but an advocate for neither side. If you want someone to be your Advocate, call another Real Estate Agent to be your Buyers Agent. However, negotiations are sometimes easier to handle by a Dual Agent because he knows the property the Best. The choice is yours, just make sure that your comfort level is where you want it.

Uncle Fred

Myth 2 Later.
http://www.military.com/money/content/pcs-dity-move/working-with-real-estate-agent-myths.html

Gun Control in Public Housing

Local Republicans are trying to pass a law making it legal to own a gun in Public Housing. They are spouting the 2nd Amendment.
I feel that when someone applies to live in Public Housing they loose certain privileges. Gun ownership should be one of them. If guns are a problem in the areas, then gate them off and install metal detectors, that way no one has a gun or other weapon.
This issue as with many others has polarized the public. When will common sense come back vogue.
Uncle Fred

In-Town Charmer with Formal Gardens

A Deceiving Large 4BR, 2BA in-town home is now available. This move-in ready home boasts, fresh paint, a fireplace in the Living Room, a Formal Dining Room, an Upstairs Laundry Area, and French Doors from the Kitchen to the Florida Room. Outside is a Landscaped Front Yard, but the Rear Yard is a Wonder to Behold. There you will find a Large Deck, a Pergola, and Stunning Gardens. There is also a Potting Shed and a 12’ x 40’ Garage/Storage/Workshop Building. For the Little Ones the Elementary School is across the street. EVERYTHING IS HERE!

Every now and then a home becomes available that is both affordable and meets the needs of the majority of Families, this is such a Home.
It has the charm of an older home with the updates and extras which make it a rare bargain. This Home should be seen by everyone and used as their benchmark for value.

This Home located in Seaford DE.
Uncle Fred