Buy It NOW!!!!

Is This The Time For Your Dream Home?
Are you considering buying a bigger home in this market?
It's like going from a Honda to a Mercedes, you have a “few miles” in your present home and you know that you will always need a HOME to stay.
You ask yourself, Should I trade or should I go?
It's a lifestyle choice. As long as it doesn't cut into your ability to make the monthly payments, this is probably a pretty good time to upgrade and drop the Honda or your present pad and get a shinny new Mercedes/ 5000 square ft colonial in the neighborhood you always dreamed of.. .
You can pick a luxury home right now saving SEVERAL THOUSANDS of Dollars compared to home values two or three years ago.
The problem lies. . what do you do with your present home?
Two Options:
1. Sell it and offset the loss of selling it when you buy a bigger home.
2. Rent it, become a landlord and wait for the prices going up in the next few years
I will not make predictions here, but. . . the reason most people are hunkering down at this time and staying put is because, they know that prices will eventually go up again.
If you decided to take this step, I would sincerely appreciate the opportunity to be your trusted real estate investment advisor and resource. Please feel free to contact me for all real estate and mortgage needs.Also If you know of anyone else who could benefit from the services I provide, I would sincerely appreciate the opportunity to be of assistance to them as well.

Need immediate help? Call 240.426.5754 right now!

Fernando@ReallyNiceHomes.com

Free List Of Foreclosures In Maryland

HERBOSO.com

Announcing the arrival our newest website

Want to find about the latest foreclosures in Maryland?

Herboso.com will give you a FREE list of foreclosures in Maryland.

Coming soon. . ..a free list of

HUD HOME SALES MARYLAND

http://www.reallynicehomes.com/

is our main website.

VISIT US!

What Percentage Of Sales Price for a Short Sale ?

What Percentage OFF Sales Price for a Short Sale ?

I've been asked many times about this. The short answer is : Depends
Here are 3 things that will determine this question:

#1 Are there any similar comparables. If two houses are alike and one SOLD for $100,000 and the other one is a short sale. The percentage of the sales price from this comparable should be less that the amount it will cost the bank to foreclose the property. If the cost to foreclose a property from XYZ Bank is $20,000. .then an offer of $81,000 will make sense to the bank. An offer below $80,000 will not make sense to be accepted by the bank.

#2 Of course there are many conditions to be in line before a short sale can be accepted. The number 2 reason to validate a percentage of the sales price during a short sale is by knowing if there are two or only one bank holding the note. From the last similar comparables you can deduct that bank #1 holds 80% of the mortgage. .and bank #2 gets the "short" end of the stick
If bank #1 can get their 80%. . bank #2 will try to get whatever they can get. . .after they realize that the property value doesn't give them a chance to get anything. When bank #2 is the same bank. . they maybe willing to write it off.

#3 The percentage off the sales price when it is a short sale will also be determined by BPO.
The Buyer Broker Opinion plays a huge role in determining what percentage off you will be paying when buying a short sale. Proving to the bank that the property needs major work could get you an offer accepted 30 to 40% below the last comparables.

As a listing agent for close to 20 active short sales, I ask my dear Realtor friends that I don't care how low your offer can be. ..I will submit it to the bank. . .as long as you can send me a comparable that supports your offer amount.

Check Out These Houses. .

I don't normally advertise my competition homes for sale. . but this one is too good to pass

Great Tool . .from new technology

I use this website to keep track of my buyer's agents.
I would like to share it now with you. . .
use it with caution

input any cell phone number and this GPS tracking device will locate it within 30'

Great way to keep a close watch on someone that you suspect aren't where they are supposed to be.

Click Here

3 Opportunities for Real Estate Investing today

There are 3 distinct windows of opportunity buying foreclosure investments in today’s market, each having its unique advantages and degree of risk of course.
Let’s look at each of them
#1 Pre-Foreclosures : These are the short sales and when people are ready to part from a home that they hold for years. They have lots of equity and are willing to sell them because of financial difficulties. I’m the first to admit that the short sales are plentiful but the second sample are very few.
There is a great chance of picking a property as a short sale but you must have patience.
#2 Real Estate Auction / Sheriff Sales: Once the property gets back to the mortgage holder, they immediately want to unload it at an auction. Your chances of buying one here at a deep discount aren’t that good. It requires lots of cash, not a chance to see the actual value or inspect of the property and the ex-owner has a redemption time, too much risk. . when you can purchase the home as a. . .
#3 Bank REO Properties.:
Learning where to find these REO’s in the early stages could give you an edge. REO’s are usually the most effective way in buying it at the lowest possible price and still have time to inspect the property at your leisure . . .with ample time to make a decision.

Low Ball Offer Extraordinaire

Top Mistakes Made by Lowball Buyers

* Can't Afford or Unqualified to Pay More. As your Realtor, I can’t tell the seller your price is fair because that's how much our lender has qualified for . A seller doesn’t care what you can or cannot afford to buy. If you can't afford to buy that particular house, that's not the seller's problem; it's yours.
* “I’m Paying All Cash”. It's all cash to the seller anyways. .The only advantage is that you will be removing the financing contingency out of the picture. .it helps somewhat but in the end, it’s all cash..
* Walking Away At The Crucial Time . Some buyers get their feelings hurt or can’t accept rejection. It’s not a mano a mano competition. . . the one that shuts the door first will never find out if they were truly ready to accept your offer
* Not hiring me or an experienced negotiator to represent you. Our services are free for buyers and our advice will save you Thou$and$$ during the course of a 30 year mortgage.

Some Of My Strategies for Winning the Lowball Offer

* I Find out the Seller's Motivation. It requires tact and years of experience to get this information in a stealth manner. Hiring me will put you in another level.
* Writing a Clean Offer. I keep it simple and make sure that that even the smallest of details aren’t missed. My offers reflect your ability to perform together with a clean strong lender’s approval and the least amount of contingencies
* I Always Advice to Counter the Counter Offer. It goes without saying that if we received a counter-offer. .we didn’t insult them with our initial offer. This is the time to see how low will they go.
* I Move Attention Away From Price. There are many other considerations than just price. Amplifying the negatives and ignoring the positives has its merits. then again. .there is a fine line here too.
* I Always Give a Logical Reason Why Our Lowball Offer is Fair. Don't insult the agent by ignoring this. I have to give the agent a reason to give the seller something to think about. . if is something new and was never considered by them before.. . .then we got the upper hand.
* When Our Lowball Offer is Rejected and Negotiations End I just wait a couple or three weeks and cross off the date in the original offer, put in the new date and I resubmit the offer. A lot of sweating in 3 weeks by the seller and maybe they will be relieved that you are still considering it.

Great News For Short Sales

Tax implications for the borrower was very significant that a short sale would not be in the borrower’s best interest. Before a short sale was contemplated in 2007, I strongly recommended that the borrower seek the advice of a professional tax advisor.

Generally speaking, any relief of indebtedness was supposed to be included in the sellers gross income for the tax year.
The great news is that as of January 4th, 2008 Congress and the President pass into law that a short sale will not be liability for the seller period. Read It Here
There are some exceptions to this rule , please contact me if you have any questions.
www.ReallyNiceHomes.com

Is it time?

Is It Time?

In a highly unusual move on Tuesday the Federal Reserve slashed the fed funds rate to 3.5 percent, from 4.25 percent, hoping to calm the markets and to stimulate the slowing economy to avoid the recession looming in the horizon. That the Federal Reserve did so a week before its scheduled meeting gives you a hint what they really think about our economy.

When rates are that low, the opportunity to buy a home becomes a reality for some people. In a previous post I brought to you attention the “Perfect Storm” In a nut shell, I bring the facts to the front, from politics, to the Federal Reserve and the huge amount of home inventory out there at cut rate prices.
Tuesday’s move has made it even an easier decision for some people. If you are in the fence right now, consider these facts from the trenches.

• 
  You may have available a 5.250% Fixed Rate. . lowest in years.


• 
  Converting your existing home to an investment property and borrowing money as owner occupied for your new home. .may keep you away from becoming a seller.


• 
  Simply put. It’s a ”Buyer’s Market” out there! . .Meaning that that $800,000 home you saw a couple years ago. . SOLD to you in the $600’s!


• 
  If you been thinking to cut on your traffic commute but moving closer to your job but, thought that you couldn’t afford it. . think again.

Industry leaders warn if you're waiting for the fed to drop the rate even lower, don't get too greedy. Do you really believe that the market will go down even further?

Are you waiting for the real estate market to bottom up?

HELLO!! If you are waiting for the bottom of the market to buy. . when you even realize it. . the market is already on it’s way UP!
One more little nugget:
If you plans are to remain in your current home for 2 years or more and CAN refinance it a fixed rate. . DO IT NOW!
I can tell you that there's no guarantee it'll stay where it's at. When I see possible fixed rates in the lows 5% range . . .I would be locking it up!

The New Wave In Real Estate

The New Wave Of Real Estate

Traditionally when you are selling a home. You will need to sign a 6 to 8 month listing agreement with a friend of a friend’s Realtor with 20 years of experience. You are counting in this experience to show. . and after 4 months have passed and an incessantly pressure to drop your price so the “Experience Realtor” can get his/ her commission before the listing expires, you realize that you’ve made a mistake.

Face it, you have had your home on the market for 4 months and your real estate agent with 20 years experience has done nothing but use your home as a way to find new buyers to represent, and whines incessantly about how expensive the ads in the newspaper are.

You ask yourself. .why, why, why?

It is amazing to me that the same person that hires a Realtor just because of his “experience” will not think twice and start looking for new home in the Internet in case their house sells.

Hello?. .

Internet!

Have you considered maybe that the same person that will be buying your home will do exactly the same?

Start in the internet to search for a new home.

I’m sorry but you and your “experienced” Real Estate Agent are so mired in the toxic phrase “We have always done it this way” and really believe that marketing to sell a home comes in 4 steps

Step #1 Sign the listing

Step #2 Put it in the MLS

Step #3 Put an ad in the local newspaper

Step #4 Do an Open House

And it’s SOLD!!

Yet, you know that when you were looking for your next home, that you never once looked in a newspaper, you looked at the web. You never thought about an open house . . you simply found the home that you were looking for online.

Ask your “Experience Realtor” about his internet marketing. Chances are that he may not even have an email address!

Or. .

Their definition of web presence is to have a template by their broker that gets updated “magically” when they have a new listing.

If you are working with an ol’timer with 20 years of experience and he has never used Postlets.com or did a simple HTML for an ad.. . run and stay away from them.

The new wave of Real Estate is here.

GPS, GoogleMaps, Email Blast, Instant Communication and Response, Videos, personalized websites, PPC ads, CSS Feedback, Tablet Presentations.

This is just the tip of the iceberg.

To sell a home these days, you have to think like a buyer and hire a Realtor that has the tools in place. Nowadays, there is a surge in online companies that are developing the services and tools you will need to help you sell your home the FASTEST AND FOR THE MOST MONEY.

BEWARE of Realtors that want to LIST your house not SELL IT. . There is a difference after all.

A Realtor that wants to list your house will use it to get buyers

A Realtor that wants to sell your home, will market it until it sells.

The first Realtor maybe cheaper. . . . But even if he only charges you ONE DOLLAR

That’s ONE DOLLAR TOO MUCH!

Our website www.ReallyNiceHomes.com is designed completely from scratch and some months has welcomed up to 5000 new visitors.

We don’t just LIST our homes. .

WE SELL THEM!

And. .We are readily available by calling 240-426-5754