REO’s, or “real estate owned” are properties already owned by the Bank. The foreclosure has happened, the bank owns everything, and now they are trying to sell it.
The good news here is the decision making process, typically, is very fast. Banks will usually tell you within 24 hours whether or not the deal will […]
So if short sales are a win-win for everyone involved, why are they so difficult to bring together?
First, banks are in the money-lending business, not the real estate business. They aren’t set up to negotiate and evaluate real estate transactions in a timely market. Finding the right person, the one who can actually say […]
What exactly is a short sale? Is it different from an REO?
A short sale occurs when the proceeds from the sale of a property are not sufficent to pay off the lender of record. The lender of record may agree to accept a pay-off that is less than the amount actually owed. The Seller […]
Given all of the doom and gloom in the papers, no one would believe it if we told you there was an area in Marin County where:
- 71 % of the available homes were in contract
- Many are receiving multiple offers
- Many go into contract within 48 hours of going onto MLS
- Many are selling […]
There are very few real buyers in the market right now. It doesn’t mea there won’t be Buyers in the future - of course there will. But real Buyers - someone who is going to buy a home in the next 30 days - are few and far between right now.
The word we keep […]
