Guiseppe Matese's Santa Clara CA Real Estate Blog

San Jose Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them

Guiseppe Matese — Thu, 23 Feb 2012 04:47:04 +0000

San Jose CA – The Stop Foreclosure Institute recently received a question from Aggie. Here was Aggie’s Question.

“We received a short sale approval on the 1^st. They will only pay the second mortgage $3,000. The problem is that the second mortgage wants $5,500.

We are arguing back and forth with the second mortgage. The negotiator there said management decided they won’t take less.

I told her the final decision should come from the investors not from management. Any help greatly appreciated. Aggie.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the answer to Aggie’s Question. It sounds like the first is Fannie Mae or Freddie Mac. They will only pay $3,000 to the second.

To get the 2nd to take less money, you have to escalate the file. Contact the CEO, ask for a supervisor, etc. When you talk to the supervisor remind them they will get zero thru a foreclosure.

Now, you will need more bargaining power than a simple “reminder.” How close is the first to foreclosing? If they are close, just play chicken.

Tell the negotiator that if the first forecloses and they lose everything, then you will be in contact with the CEO to let them know. Another tactic is to tell them the first is Fannie Mae and that is the most they will pay.

If you stay firm, refuse to take less, sell them on why they should approve the short sale on your terms, and threaten to contact the loan owner directly, then they will usually budge. We have gotten lenders to agree to lots of stuff by staying firm and refusing to back down.

But at the same time we stand firm we also go on the offensive. “If you don’t approve this short sale and as a result you lose more money, then we will contact the loan owner, your stockholders, and the press”, we tell them.

This business requires sales skills. Use your sales skills to sell the people at the lenders on approving the short sale. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

View My homes for sale at AvoidMySanJoseForeclosure.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

This information on San Jose Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them is provided as a courtesy to our viewers to help them make informed decisions.

Who Benefits From A San Jose Short Sale?

Guiseppe Matese — Wed, 15 Feb 2012 03:35:54 +0000

San Jose CA – Even though lenders pretend to hate short sales, they actually benefit from short sales. Let me explain why.

A lender gets to sell the house at today’s price, versus what it will be worth 6-12 months down the road. We just did a comparison and pulled up sold listings.

All of the listings were the same, very comparable, and located in 3 similar, comparable neighborhoods. All were less than 2 miles apart.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

First, we looked up the average selling price per SQFT of homes that sold in a 3 month period. In spring 2009, all the homes sold for an average of $103 a SQFT.

Then, we pulled up houses in the same neighborhoods that sold after the bank had foreclosed on them. Those sales were 6-9 months later than the original sales.

6-9 months later, the average sales price of a home in these neighborhoods was $85 a SQFT. These homes average 1,700 a SQFT.

That means a 1,700 foreclosure sold for $30,600 less than it would have sold as a short sale six months before. Ouch! Sure, most short sales are cheaper than comparable bank owned or “seller with equity” sales.

But, we’re bringing a tremendous amount of value to the bank. The other person that’s getting value is the buyer. They get a better deal in today’s market than buying a “seller with equity” or REO.

You, the seller is also getting a better deal. You get a lower deficiency and your credit is back to normal in 18-24 months.

A short sale is a win – win for everyone involved. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

View My homes for sale at AvoidMySanJoseForeclosure.

This information on Who Benefits From A San Jose Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

How Do I Stop The Foreclosure Process During A San Jose Short Sale?

Guiseppe Matese — Tue, 07 Feb 2012 17:04:23 +0000

San Jose CA – The Stop Foreclosure Institute recently received a question from Trudi. Here was Trudi’s Question.

“I am in the middle of the 3rd offer on a short sale. I was just recently received foreclosure papers. Is there a way to stop the foreclosure process and get the house sold? If they just would work with me! Trudi”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the answer to Trudi’s Question. Unfortunately, most banks won’t stop foreclosure proceedings. Most of the time, they will stop a foreclosure sale when you have buyer that wants to buy the house.

For example, we saw a lender stop a sale last year. The sale was set for around September 7th and the property was listed around August 25th.

The lender stopped the sale until the short sale process was complete. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

View My homes for sale at AvoidMySanJoseForeclosure.

This information on How Do I Stop The Foreclosure Process During A San Jose Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

A Common San Jose Short Sale Marketing Mistake: Your Realtor Doesn’t Make Sure That Your Home Shows Well

Guiseppe Matese — Sun, 29 Jan 2012 20:59:36 +0000

San Jose CA – When another agent brings a buyer to look at your home your realtor should follow up afterwards.

If you want to sell your home, then it needs to show well. Here are a few tips.

1. Open the blinds and curtains. Bring in as much outside light as possible. Most showings happen during the day, whether during the week or on the weekend.

Turn on as many lights as possible. Buyers want to buy an open and bright home. They don’t want a “cave.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Sure, they will turn the home into a “cave” after they buy it. They will have the blinds closed most of the time. They will install curtains and never let any natural light into the house.

But, that doesn’t mean they want to buy a “cave.” Yes, I know it’s crazy. I guess it’s just human nature at work.

2. Your home should be clean, tidy, and well groomed. Fix anything that doesn’t look right. If your sidewalk is black from algae, then pressure wash it off. Put new mulch in the front beds.

3. If you have a good sense for decorating, then decorate! Make your decorating neutral enough that most people will like it. If you have an empty room, then rent some furniture and put it in there.

Buyers have a hard time imagining if their furniture will fit in a room. They usually think that they need more room than they actually do.

If they can see furniture already there, then it helps bridge that gap. They can see for themselves that their furniture will fit.

4. Get the carpets cleaned. If your carpet is old, but you can’t afford to replace it, then hire a good steam cleaner. Ask someone who manages an apartment complex for a referral.

Most apartment complexes know a carpet cleaner that can get the so called “impossible stains” out of carpet.

I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408)605-7650.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408)605-7650. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

View My homes for sale at AvoidMySanJoseForeclosure.

This information on A Common San Jose Short Sale Marketing Mistake: Your Realtor Doesn’t Make Sure That Your Home Shows Well is provided as a courtesy to our viewers to help them make informed decisions.

A Common San Jose Short Sale Marketing Mistake: Not Following Up On Showings

Guiseppe Matese — Sat, 28 Jan 2012 19:49:23 +0000

San Jose CA – When another agent brings a buyer to look at your home your realtor should follow up afterwards.

They need to get feedback on what the buyer thought of your home. If the buyer liked your home, then they will ask if they are thinking of making an offer.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Maybe the buyer likes your home, but won’t make an offer for some reason. They want something repaired, or they have a concern about something.

Your realtor can then address any concern and increase the odds of a sale. If you agent actively follows up on showings, then it will work wonders for a sale.

They can handle buyer’s concerns and close the sale. In one example, the buyers mistakenly thought a home wasn’t in a certain school zone.

The agent talked with the school board and the confirmed the home was in that school zone. There are many other things that may pop up.

If your realtor follows up, then they can handle those concerns and get a buyer off the fence and convince them to buy your home.

I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

View My homes for sale at AvoidMySanJoseForeclosure.

This information on A Common San Jose Short Sale Marketing Mistake: Not Following Up On Showings is provided as a courtesy to our viewers to help them make informed decisions.

A Common San Jose Short Sale Marketing Mistake: Not Promoting Unique Properties to Buyers Looking For Unique Properties

Guiseppe Matese — Thu, 26 Jan 2012 01:46:22 +0000

San Jose CA – Unique properties usually have a “love it” or “hate it” aspect to them. A great example is pool homers.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Some buyers want a home with a pool. They are willing to spend $20,000 to $50,000 more for a home with a pool. Other buyers absolutely do not want a pool.

“Don’t show me any pool homes”, they tell their agent. If those buyers are not going to like the pool home once they see it, then what is the use trying to hide it.

Show it off. That is why a pool home should be marketed loud and clear as a “pool home.” The same goes for other unique properties, such as waterfront properties.

Another good example is a home that backs up to a power line. A power line is a huge negative for most buyers. But, it is a big plus to other buyers.

I heard a story about a home that backed up to power lines. The sellers had a hard time selling it. They finally hired an agent that knew a certain home buyer would like it.

The perfect buyer for that home is a family that loves ATVS. They could ride their ATVs on the power line easement.

Most roads and neighborhoods are unfriendly to ATV riders. The power line gave them miles of trails to ride without being harassed.

A third example is homes located down a dirt road. These homes appeal to people with horses because the dirt road is a great place to ride a horse.

They don’t appeal to people without horses (who wants to live down a dirt road?) This is why a home down a dirt road needs to be marketed to horse owners.

If you have a unique home, then you need an agent who can market it properly. More than likely, your home’s unique features need to be proclaimed loud and clear.

In a few other cases, they don’t. A good, experienced realtor will know what to do.

I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

View My homes for sale at AvoidMySanJoseForeclosure.

This information on A Common San Jose Short Sale Marketing Mistake: Not Promoting Unique Properties to Buyers Looking For Unique Properties is provided as a courtesy to our viewers to help them

A Common San Jose Short Sale Marketing Mistake: Not Marketing Your Home To Their Buyers

Guiseppe Matese — Sat, 21 Jan 2012 18:55:49 +0000

San Jose CA – Here is a story that illustrates this point. An agent I know was hired to sell a 30 acre tract of land.

Several months earlier they had spoken with a buyer that was looking for a similar property.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

However, the buyer had said they were looking for something closer into town. So the agent never told them about the 30 acres.

Another agent did tell them about it. They notified the buyers about the property and they decided to buy it.

In this case, the seller was fortunate that the property sold. But, it illustrates the importance of a realtor marketing their homes to their active buyers.

Those buyers already know and trust that realtor. They are the most likely prospects to buy the homes that agent has for sale.

I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

This information on A Common San Jose Short Sale Marketing Mistake: Not Marketing Your Home To Their Buyers is provided as a courtesy to our viewers to help them make informed decisions.

A Common San Jose Short Sale Marketing Mistake: Not Using the MLS Properly

Guiseppe Matese — Sun, 01 Jan 2012 10:15:15 +0000

San Jose CA – This MLS Mistake could cause the right buyer to never look at your home in the first place. The Multiple Listing Service (MLS) is the first place an agent representing a buyer is going to look for homes for sale.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

(The Multiple Listing Service, which I will call MLS for short, is the database of homes for sale that all realtors in a certain area share.

When an agent has a buyer and their own homes for sale won’t fit that buyer’s needs, then they search the MLS.

If another agent has a home that fits that buyer’s needs, then they can sell the other agent’s listing.)

In today’s market agents have a lot of homes to pick from. Ten, twenty, thirty, and sometimes even a hundred homes fit their buyer’s criteria. But, they will usually only show that buyer 5-7 homes at one time.

If these agents don’t pick your home from their MLS search, then you just missed a potential buyer. Here are a few reasons that certain homes get skipped over in the MLS search.

Reason #1: The main picture of the house is ugly or unattractive. The agents are usually scanning thru lots of listings and don’t have time to look at all the pictures.

If the main picture is unattractive, then they will pass on showing the home.

Reason #2: The property is put into the MLS wrong. For example, many MLSs have a search function for the size of the lot.

The agent puts in 0 acres for the lot size. The house will not show up when an agent searches for a lot size between .5 acres and 1 acre.

Nor will it show up in any other search that has a specific lot size. This might not be a big deal if you don’t have a lot with a bigger than normal yard.

But, I can tell you from specific experience that this will hurt your sale if you have a larger than normal lot. There are many other MLS mistakes, but this is a specific example to show you how it can affect you.

Reason #3: You don’t price your home at $25,000 increments. Most buyers use $25,000 increments when searching online.

For example, they will search for a home priced between $200,000 and $250,000. If your home is priced at $250,000, then it will show up in multiple searches.

A $250,000 home will show up in a search for homes priced $200,000 – $250,000 and a search for homes priced $250,000 – $300,000.

This increases the likelihood of the right buyer seeing your home in the search results and therefore the likelihood of your home selling.

I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

This information on A Common San Jose Short Sale Marketing Mistake: Not Using the MLS Properly is provided as a courtesy to our viewers to help them make informed decisions.

A Common Misconception: Buyers Don’t Like San Jose Short Sales

Guiseppe Matese — Fri, 30 Dec 2011 01:20:44 +0000

San Jose CA – A lot of agents think buyers don’t like short sales. This is not true. In fact, many buyers prefer foreclosures and short sales over normal homes on the market.

They know that they are more likely to buy a home at a fair price when they buy a short sale.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

We never have a problem getting buyers interested in our short sale listings. We have even had buyers fight over certain short sales.

In one instance, we received multiple offers on a property. The property had extra features that these buyers really wanted.

To the average buyer, the features didn’t mean much. But to these buyers they were worth a lot.

So don’t get discouraged if you are thinking of short selling your house. Short sales are more difficult than the average home sale.

With the help of an experienced short sale agent you can short sell your house and walk away debt free. Many other people have already done it. Why not join them?

I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408)605-7650.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408)605-7650. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

This information on A Common Misconception: Buyers Don’t Like San Jose Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

San Jose Short Sales: Does ABC Bank Really Care About Their Customers?

Guiseppe Matese — Fri, 16 Dec 2011 12:10:43 +0000

San Jose CA – Doesn’t it annoy you when you hear a large national bank’s hold music tell you that they care about their customers?

Their hold music sings their praises: “We are (Insert your bank’s name) appreciate your business. We offer the best customer service in an effort to earn your business.”

If you ever feel we are not upholding the standard of excellence in customer service, then please let us know”, it says.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Arrrrggggghhhhh!!!!! I hate that! If you have ever negotiated a short sale or loan modification with a large lender, then you will understand what I am talking about.

They all talk the talk, but they don’t walk the walk. Excuse me, but waiting on hold for 30 minutes does not count for excellent customer service.

Losing my short sale paperwork for the tenth time doesn’t qualify either. Nor do the loan mod horror stories I hear from sellers who have finally given up. Banks, please get your act together!

Fortunately, we can still get short sales approved, despite the bad customer service. This causes some agents to avoid short sales, but it doesn’t stop us.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

This information on San Jose Short Sales: Does ABC Bank Really Care About Their Customers? is provided as a courtesy to our viewers to help them make informed decisions.