It's the begining of the new year and things seem to be getting better when it comes to dealing with Banks and Lenders while attempting to do Short Sales for my clients. For over 2 and 1/2 years now, I have been part of the Short Sale process either helping Sellers or Buyers. At first in 2007, it seemed like pulling teeth to get the Banks/Lenders to ok a Short Sale. Now, it seems that the Banks/Lenders are more receptive to Short Sales and they know that the market has taken a down turn. This is the best time to either Buy or Short Sale a home. I have a 99% success rate and I have never lost a Short Sale once the Bank/Lender has the file. I am also free of charge to Buyers and Sellers! Yes, I am free to my clients!
If you are Selling, your lender pays my commission. If your a Buyer, I am also free of charge to you. If you are looking to get out of a negative situation with your home, most of my clients can recover in less than a year and in some situations you may be able to buy another home within 6 months after the Short Sale is completed.
It is my job to get you the best deal and to limit your liability to your Bank/Lender. From start to finish, I guide you and help your through the entire process! Call Michael Bondi today for a free consulation-702-768-2552 or visit my site: www.lvrealty4sale.com
Thank you for looking over my Blog and Website! My name is Michael Bondi. I have been a full time Realtor here in Las Vegas for over 5 years. I pride myself on knowing current market conditions, helping my clients with Short Sales, Resales, buying homes and investing. I have closed over 55+ Short Sale transactions since 2007. I have connections at most of the big lenders and I know how to package up a Short Sale that will be accepted by the bank and their investors.
Let my knowledge and skill help you sell your home in the Las Vegas Valley. I can even help you if you have missed 8 or 9 payments! I can also stop the Foreclosure Sale if I have everything I need to present a valid offer to the bank! Do not just let your home go, contact me today and I will be more than happy to explain ALL of your options to you! I am free of charge to you! I get paid by the bank to sell your Short Sale listing. I also put that in writing! Find out why so many people have been happy with my work for them! Contact me today! 702-768-2552. www.lvrealty4sale.com
It's almost been over a year now since the Stock Market to a crash and businesses and banks alike started to fail like nothing we have seen since The Great Depression! Here in Las Vegas however, we are seeing a strong turn of events! People now can afford homes based on 1980's pricing which makes home ownership more affordable for everyone!
Short Sales and Bank Owned properties (REO's- Real Estate Owned) are pretty much the only things out there right now for sale. Traditional "Resales" are a thing of the past and will be slim to none that make there way to the public for purchase! Short Sales in my opinion are the better way to go! If you are patient and wait out the process, the rewards can be very sweet for the buyer! Yes, it can take up to 6 months, most of my short Sales average out to 60-90 days for approval. Then you have to wait for your lender to fund your loan which could take another 30-45 days.
On the positive side of Short Sales, most of the time Buyers will go get an FHA Loan and can receive closing costs up to 4-5% from the lender doing the Short Sale. Load up your offer to the bank and see what they will pay or not pay for. As long as your price is above fair market value, your offer will be accepted! Do not low ball a home, in this market you either want to buy or you want to waste time and lose out to another Ready, Willing and Able Buyer!
It is a great time to be a buyer but you need someone to educate you on Short Sales. From a Sellers standpoint, and from a Buyers standpoint, I can explain the process to you like no one can! I have closed over 50+ Short Sale transactions since 2007 and I have NEVER lost a Short Sale once it is in the banks hands! Contact me today and I can help you buy or sell a Short Sale listing today! Call me directly at: 702-768-2552 or www.lvrealty4sale.com
UPDATE: 9-4-09/ This law is good until 2012.
Another topic of concern for most people when they consider a Short Sale is "Will I have to pay taxes on the difference of the Short Sale?"
The Mortgage Forgiveness Debt Relief Act of 2007 was designed to forgive that amount that you are going to "Short"! Keep in mind that this only applys if you are going to do a Short Sale on a primary residence. Here is a great web page and link for you to read directly from the IRS:
http://www.irs.gov/individuals/article/0,,id=179414,00.html
This should provide you with the information you need to make a smart choice. Please feel free to contact me with your questions!
***BEFORE READING THIS PAGE, PLEASE REMEMBER THAT I AM NOT AN ATTORNEY, NOR CAN I GIVE OUT LEGAL ADVICE. THE FOLLOWING INFORMATION IS PUT TOGETHER SO THAT YOU HAVE A GENERAL IDEA ABOUT SHORT SALES. WITH THE LAWS CHANGING EVER SO QUICKLY, PLEASE SEEK OUT LEGAL AND OR TAX ADVICE FROM TRUE PROFESSIONALS THAT KNOW THEIR FIELD. MY FIELD IS REAL ESTATE AND LISTING YOUR HOME AND THEN HAVING THE BANK DRAW UP A RELEASE LETTER FOR SALE.
UPDATE January 2010- With all the new laws both Federal and State taking place to help homeowners, now is the time to take advantage of those new laws and Short Sale your propertry! It gives you a great solution to your problem, in several cases I have had, it stops all collection activity and it could also keep you in your home longer so that you can prepare to save money for another place to live! Short Sales are the last option before Foreclosure, but it is a great way to get a fresh new start with your life!
Banks are starting to cooperate more with Realtors when dealing with Short Sales. Yes, it will take some time to comlete, but I have NEVER lost a Short Sale once it is with the bank.
"What is a Short Sale?" Well to put it simple, a Short Sale is when the Lender or Mortgage Company allows and agrees to let the seller sell their home below what is currently owed on the loan.
Let's say you owe $300,000.00 to Countrywide Home Loans as an example....We "Short" your home by $50,000.00 less at $250,000.00 due to current market conditions and or what a buyer is willing to pay for your home. The bank takes the loss and you are able to sell your home! As Short Sales go, this is not an EASY solution by any means! It is another TOOL for you the seller to let you sell you home in a market that has dropped in value.
There are many situations that a Short Sale will work for you and there are some situations that it MAY NOT help you. I have been doing Short Sales for a while now and have extensive knowledge and training about doing them. I encourage you to blog me, email me, call me etc. to find out if I can help save you from FORECLOSURE!
*If you are currently working with another Realtor, I cannot discuss and or advise you in your situation. As a professional, I must resepect a contractual agreement. If you get what is called an "Unconditional Release" from that contract, I would be more than happy to talk with you! Until Next time, I look forward to your content! CALL ME TODAY for your free, no obligation personal consultation 702-768-2552. www.lvrealty4sale.com
***BEFORE READING THIS PAGE, PLEASE REMEMBER THAT I AM NOT AN ATTORNEY, NOR CAN I GIVE OUT LEGAL ADVICE. THE FOLLOWING INFORMATION IS PUT TOGETHER SO THAT YOU HAVE A GENERAL IDEA ABOUT SHORT SALES. WITH THE LAWS CHANGING EVER SO QUICKLY, PLEASE SEEK OUT LEGAL AND OR TAX ADVICE FROM TRUE PROFESSIONALS THAT KNOW THEIR FIELD. MY FIELD IS REAL ESTATE AND LISTING YOUR HOME AND THEN HAVING THE BANK DRAW UP A RELEASE LETTER FOR SALE.