Short Sales are common nowadays.. but what is a shortsale?
A shortsale is when the owner owes more than they are able to sell their home for. In this situation there are two options: either the seller can wait for the value to increase or if they are in a situation where they are forced to sell, have a shortsale. When you have a shortsale, the seller is again faced with two decisions, either bring the additional funds to settlement or try to negotiate with the bank and get them to accept less.

Many people now are successfully negotiating with the banks to show the loan as being paid in full, even if it is not paid as agreed.

Why would someone prefer a shortsale over a foreclosure?

While both a shortsale and a foreclosure hurt your credit, a shortsale reduces your FICO score by 80-120 points where a foreclosure reduces your FICO score by 300-400 points and remains on your credit report for 7 years. So who wouldn't try to save their credit?

What are the banks requiring in order to accept a shortsale?

Each bank I have worked with all required the owner to be atleast one payment behind in their mortgage. The homeowner could have very little assets and have a valid reason for not being able to pay anymore, such as a job loss.
The banks are also requiring that the home be actively marketed by a Realtor and the Realtor keep detailed records of their marketing efforts. There is additional paperwork to be filled out and alot more work to be done by your experienced Realtor. The banks are also requiring that the purchasers can't be a family member or have any blood relation to the current owner.

If done correctly, a shortsale could save your credit and eliminate your stress.

The best part of this is Move4Free will also negotiate with the bank and have them pay all Realtor commissions. You come to the settlement table and OWE NOTHING!

Call the Move4Free Team today to discuss your situation at no obligation and your call is completely confidential.

Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible:

1. Check your credit.
Before you apply for a home loan, regardless of your credit, it's a smart idea to obtain a copy of your credit report from the three major credit bureaus and review the information. If there are errors or things that need to be addressed, it's easier to address them before you have found a house, than after you have found a house and are trying to close your loan.
If you know that there are a few blemishes on your credit, let your lender know what they are, why they are there, and why you are a still good credit risk. Lenders look at your credit to determine how likely you will pay back the loan. If you had extenuating circumstances - like a loss of a job or medical bills - let them know so that they understand that it is not likely to happen again in the future.
2. Get approved before you buy.
An approval means that a lender has reviewed your credit history, verified your assets and employment, and has approved your loan before you have found a home to purchase. As long as the home appraises for at least the purchase price, the loan should close.
Getting approved also gives you an advantage over other buyers. Your firm approval makes it easier for you to negotiate on the price of a home, than a person who is not approved or is pre-qualified.
While getting pre-qualified may sound official, it is really just getting an idea of what you can afford. Its having a person plug in a few numbers that you give them - your monthly income and your monthly debt - and getting an approximate payment calculated. From the payment, the calculator can approximate the house price range that you can afford. No information is verified. Because your assets, income or credit is not verified, a pre-qualification has little value when purchasing a home.
3. Find a great buyer's agent.Traditionally real estate agents represent the sellers in a transaction. When you are not working with a buyer's agent, they are less likely to negotiate the best price or contingencies for you.
A buyer's agent's job and fiduciary responsibility (meaning legal duty) is to you, the buyer. Before working with an agent, establish if they are a buyer's agent or a seller's agent. After spending a lot of time with a Realtor, it's natural to feel like you're a team. But if they are not negotiating for you, then they are not on your team.

For the remaining 3 steps, call in your request today for the full report and they will be emailed or Mailed to you immediately!

Seventy percent of Americans have never seen their own credit report or credit score. Do you know what your credit score is?

That score impacts a surprising cross-section of life. Lenders use it to evaluate your eligibility for credit cards and loans. Insurance companies may base your premium on it. Potential employers often use it to assess your character.

Over one hundred variables are included in the calculation of your credit score, so just paying your bills on time, as important as that is, may not rescue you from other credit pitfalls.
Mind Your Own Business

Be an active guardian of your credit. Before you consider taking out any loans, send for a copy of your credit report and credit score. You want to see in advance exactly what the lender will see.

Bills long overdue or overlooked can show up as a blotch on your credit. A cable bill that
didn’t make it to your new address. An invoice lost in the mail. A department store error. Since it can take 30-60 days to resolve disputes and inaccuracies, take care of your credit first, then go shopping.

Call or email today for your free article that urges you to know, raise, and maintain your credit score. Don’t wait another minute.

10 Quick Ways To Boost
Your Energy Level!

One of the great secrets to boosting your energy is taking action. Just by simply changing something in your life and doing something different you’ll increase your energy flow. Action gives you energy.

Sometimes we get bogged down with situations, habits, or people that drain our energy. What can you do? Begin by committing to spend time doing things that support your goals. Surround yourself with people who believe in you, and avoid situations and people who drain you. In addition, here are 10 quick steps you can take today to boost your energy:

1. Write Down 10 Things That You Like Doing. You can ramp-up your personal and professional energy level by focusing your attention on what you like doing. Motivation increases energy.
2. Take A Walk. Taking a 10-minute brisk walk will increase your energy level up to two hours, reported California State University researchers. Experts say increasing your physical activity whether it’s swimming, running, dancing, or biking will boost your energy level.

3. Organize Your Space. Clear out the clutter in your workspace. Clear off your desk and keep it organized. When you clear out clutter you are creating space for new things to enter your life and by doing this you’ll increase your energy and prosperity.

4. Eat Healthy Meals and Take Vitamins. Eat a balanced diet and take vitamins with minerals to ensure you’re getting all the nutrients your body needs. Also, make sure you’re getting enough magnesium (300 milligrams) by eating almonds, cashews, whole grains, bran, and fish – particularly halibut.

5. Turn Off The Negative News. Reduce your daily diet of negative news (TV, newspaper, radio, the Internet), which can
cause additional stress and fatigue. Focus your attention on the positive things happening in our world, and in your life.

6. Explore Your Creative Side. Do you like to play a musical instrument? Do you like to paint? Is there a hobby you thought you might like to try? Exploring your creative side stimulates your mind and can increase your energy by releasing endorphins (the feel good proteins occurring in the brain).

7. Watch A Funny Movie. Think about how you feel after you’ve watched a really funny movie, or had a big laugh. Laughing is good for your heart, reduces stress, and increases your energy.

8. Take A Power Nap. Taking a short 20-minute nap when you’re feeling tired can give your brain a rest and invigorate you...and a short power nap won’t keep you up late at night.

9. Pump Up Your Fluids. Even a little dehydration can leave you feeling tired and lethargic. Pour yourself a tall, cool glass of water.

10. Get a Good Night’s Sleep. Make sure you get sufficient rest, which, for the average person, is eight hours. Keep your sleep area dark to reduce any disruptions. A good night’s sleep goes a long way to keeping your energy level high.

I received a call yesterday for a list of foreclosures. Nothing new, I get these everyday. I decided to ask the guy why he wanted a list of foreclosures. He says to me,I want a really good deal. I say to him, so you think the banks are giving away money? He says, well they price the foreclosures lower. I have sold many foreclosures and I think alot of people don't exactly know how it works. I shared this information with him and I thought I would share with you today.

When a person is going into foreclosure, if there is equity in the house then they will put it up for sale to try to save the extra lawyer fees and to save their credit. We all know how important that is. Eventually if noone has purchased it, it forecloses. The bank then (in every case I have done) hires TWO appraisers to find the market value. Then they put it on the market. Did they give away money? no.... some are priced lower, but in most cases the properties are priced low to make up for the condition. By the time you buy it and fix it back up, you would have paid less had you gone to a seller without late fees and attorney fees. Also let's remember that the bank employees are not financially attached to this property so they are LESS likely to negoiate. (they aren't as concerned with selling the house) A seller that has to move out yesterday is more likely to negoiate and will definately get back to you quickly. If you do decide to go the foreclosure route just be aware you will not get an answer right away.

There is also alot more involved. If a seller or a foreclosure has owned the house for more than 4 years, your chances of getting a deal increase. Anyone who purchased in the last two - three years does not have equity (unless of course they put money down). Keep this in mind when choosing your new home.

So I had a client the other day ask me why it was standard procedure to ask everyone if they are preapproved. It got me thinking that alot of people probably don't know this. Let me tell a true story that happened to me about 5 years ago. So I had this client that came to me wanting to buy a house, sure I will show you houses I tell him. I ask if he has been preapproved and he says yes. At that time he was approved up to $250,000 (was alot back then) through a friend he knew that was a loan officer. So I say wow that is great. I got the loan officer name and number from him to have when I needed to fill out the contract. (there is a section where you have to fill in the financing terms) So we go out and search for homes. It was great, so many beautiful homes to see. We had a blast and he finally decided on a very nice townhouse in Centreville. So I go back to the office to write up the offer and I call the loan officer. The loan officer goes on to tell me that they were preapproved up to $250,000 and she had been in the business for along time. That is great I tell her and then ask for the loan details. She goes on to tell me the details and then she says at the end, I will call them now and tell them their payment...... (my jaw drops) you haven't discussed their payment yet? I asked her..... can you believe this... this is the most important part of buying a house, can you afford the payments. What I have learned through my experience is that loan officers will approve you up to ridiculous amounts of money. Wether you can afford the payment or not. So to make a long story short suddenly we had to go back out and search in a lower price range.... My client was very upset and so was I. He did find a smaller townhouse in Centreville which I helped him buy and he still lives there today. So now I ask up front for the loan officers name and number and ask all the right questions my clients don't realize they need to ask or better yet send them to Tammy who is wise enough to understand the payment is what matters the most.

The truth as I see it
Well an amazing thing happened to me … I lost my first listing. Yes it hurt. I am sure you have seen time and time again where realtor signs are replaced my new realtor signs, happens everyday…. but never has mine been replaced until now. I guess it has been 7 years, it was bound to happen eventually. OK so this is how it went down. I got a buyer for my listing so quick (35 days!!) But this buyer happened to be a loan officer (should be great right! Not this time) well apparently this buyer/loan officer’s check bounces….. Then the seller is mad at me….. Yes I know I didn’t write the check or take out all of the money from her account and cause it to bounce but the seller was mad at me. Then the buyer wants out of the contract… I think she couldn’t get the loan, not positive though. The seller is mad at me again and obviously my sign comes down…. L Now I realize that some sellers are as uneducated about my career as I am about theirs. Kinds obvious you say……I know. I should have taken more time to explain to this seller (or maybe she should have listened) that right now due to all of the foreclosures, the real estate lending industry has tightened up it’s lending criteria causing buyers everywhere to not be qualified anymore. This is happening everywhere…..
I couldn’t help to add this but this is yet another reason why I think now is the best time to get a home because most sellers are coming out of denial and lowering their prices and the rates are still low. Unless we have a major depression …(I can’t see that happening) prices are not going down that much! However the rates are on the rise…. causing you monthly payment to go up. Call me 571.292.5377 for the worksheet I have showing the payment differences….
OK Back to the story, Now usually I would contact the loan officer and find out the details on the buyer, but when the buyer is the loan officer, things work quite differently… Let’s all remember Realtors don’t run credit or collect financial information, that is what loan officers do. With all of this being said, if the true intent is to sell, then a seller will jump right back on board (so what if they have packed their house, they are moving anyways….) no whining, no complaining, put their house on the market and carry forward. If you are in this situation be positive and look ahead. As far as me…. Yeah losing my first listing hurts but I can chalk this up as another learning experience. I have learned the more educated the sellers and buyers the less likely this situation will arrise in my future. So I will continue educating myself so I can educate you and help you make better decisions. And that my friends is the truth as I see it.

Which has less traffic 66 or 95?

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