Short Sale Success! Wachovia short sale with 3 loans!!

The short sale of real estate is not a questionable practice in today's softening real estate market, it may be a necessity. The short sale transaction is a legal and much more beneficial alternative to foreclosure or even bankruptcy. Lenders are motivated to accept short sale offers to for a number of good reasons. The short sale of your home can result in a win-win-win situation for all parties involved

Our latest short sale success was on a property that had 3 mortgages and over 5k in back HOA payments!




1st Lender: Wachovia
2nd Lender: Wachovia
3rd Lender: Dyckoneal


Our team was able to negotiate with all lenders to agree to the short sale terms and pay off ALL the HOA arrears!

Please contact me for NO COST help with short sales!


To your success,

Oliver Graf
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360



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Real Estate Submit Short Sale
Real Estate Short Sale
Real Estate Avoid Foreclosure
San Diego Based Real Estate Blog

Foreclosure Properties are selling at a Record Pace - Get them before they are gone!

Good Foreclosure Properties are selling FAST!

Buyers in most areas are finding that bank owned / real-estate owned (REO) properties(homes that the lenders have repossessed and put back on the market)often are selling the day they are listed for sale, sometimes faster. According to the founder of Foreclosure.com, offers on REO properties are coming in immediately after the listing comes on the market, and some homes have been put into contract in less than 90 minutes.

What this means to buyers today…

• On average, inventory on California properties priced less than $300,000—the most-competitive price point for todays foreclosure buyers—have dwindled from a 10-month supply a year ago, to less than a 4 month supply in July, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)

• Since the inventory levels of homes priced in the lower end of the market are so low, buyers are finding that lenders/sellers are not willing to negotiate on the price. In many instances, lenders/sellers expect the first offer to be the best and highest possible for the buyer, and most are being sold over list price. Since competition is so high, when writing offers be prepared to make the best offer you possibly can upfront in order to be considered.

• Instead of holding onto REOs for the best prices—and paying the property taxes and maintenance and carrying costs—many banks are selling these properties as quickly as possible, according to Foreclosure.com. “In this market, if banks can liquidate them fast, it makes more sense to get them off the books,” said the company’s founder.

• In spite of efforts by lenders and the government to prevent foreclosures, many economists and housing experts are predicting another wave of foreclosures by year’s end, and many of those properties will be offered for a quick sale. According to the U.S. Comptroller of the Currency, 53 percent of loans that were modified in the first half of 2008 fell back into arrears and will most likely end up in foreclosure down the road


If you are serious about buying property while taking advantage of the available tax credits make sure that you and your agent are prepared to work quickly!


What have you noticed from the REO buying experience?


For any help or questions on buying REO’s Please contact me:

Oliver Graf
Real Estate Expert


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Real Estate Purchase
Real Estate Sales
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San Diego Based Real Estate Blog

How to Submit a Real Estate Short sale: What you need to know

How to Submit a Real Estate Short sale: What you need to know...

Submitting the Short Sale

So you have met with(or are) the homeowner and have the property on the market getting the proper exposure. Now it’s time to prepare the documents and submit for a short sale. This is the most time consuming part of the Short Sale process especially if you do not stay organized and take notes on all your conversations with the lenders.

What the real estate agent will need:

Authorization to Release Information: This form allows your real estate agent, escrow company, and title company to talk to a lender on behalf of the borrower. The lender will not talk to anyone unless they have this on file.

CMA: With the current Active, Pending, and Sold properties going 90 days back(close of escrow)
Listing Contract: The Listing Contract, Short Sale Addendum, and MLS printout.
Offer to Purchase: Retail offer to purchase on the subject property


What needs to be provided to the lender(Including everything listed above):

Financial Worksheet: Shows your assets, liabilities, and expenses. Great tool for presenting the borrowers current “hardship” to the lender.
Proof of income: You will need the last 2 pay stubs and last 2 years W2's. If you are self-employed, you will need last 2 years tax returns and a Profit and Loss statement for the past 3-6 months.
Bank Statements for the past 2 months: Showing balances and spending history.
Hardship Letter: This is where the borrower has the opportunity to “state their case” to the lender. Why did the situation occur? Why do you need to sell? What is going on with your hardship now?
Last 2 years of tax returns: All pages are needed and if you filed an extension, submit the extension paperwork.


Once you have all of the paperwork together, send it all at once and as soon as possible. Make sure it's complete and legible. Also, make sure you are constantly following up because the lenders a overwhelmed with requests and sometime lose track of progress. There is a long line of borrowers ahead of you so if the file is missing anything, you will get notice but the file will go to the bottom of the pile again.

What have you noticed in your short sale experience?

If you need any help with short sales, contact me today!


To your success,

Oliver Graf
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360



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Real Estate Submit Short Sale
Real Estate Short Sale
Real Estate Avoid Foreclosure
San Diego Based Real Estate Blog

16 Tips to bring you Massive Success

16 Tips to bring you Massive Success

1. Get and stay out of your comfort zone.

I believe that not much happens of any significance when we're in our comfort zone. When you are out of your comfort zone or uncomfortable, you are growing.

2. Never give up.

Almost nothing works the first time it's attempted. Just because what you're doing does not seem to be working, doesn't mean it won't work. It just means that it might not work the way you're doing it. If it was easy, everyone would be doing it!

3. When you're ready to quit, you're closer than you think.

There's an old Chinese saying that I just love, and I believe it is so true. It goes like this: "The temptation to quit will be greatest just before you are about to succeed." Most people quit when they are 3 feet from GOLD!!

4. With regard to whatever worries you, not only accept the worst thing that could happen, but make it a point to quantify what the worst thing could be.

Very seldom will the worst consequence be anywhere near as bad as a cloud of "undefined consequences." During the toughest times in my business when I felt like nothing was working I would just think to myself “This can’t kill me, one day I’ll look back on this and laugh!” Hahaha…

5. Focus on what you want to have happen.

Remember that old saying, "Whether you think you will or not, you are right." It is always so important to keep a positive mindset. 80% of your success will come from this.

6. Take things a day at a time.

No matter how difficult your situation is, you can get through it if you don't look too far into the future, and focus on the present moment. You can get through anything one day at a time. “This too will pass”

7. Always be moving forward.

Never stop investing. Never stop improving. Never stop doing learning. The moment you stop improving your organization, it starts to die. Make it your goal to be better each and every day, in some small way. Remember the Japanese concept of Kaizen. Small daily improvements eventually result in huge advantages.


8. Measure everything of significance.

I swear this is true. Anything that is measured and watched, improves. Keep track of your numbers. Hold yourself accountable and watch your business grow.

9. Anything that is not managed will deteriorate.

If you want to uncover problems you don't know about, take a few moments and look closely at the areas you haven't examined for a while. I guarantee you problems will be there.

10. Pay attention to your competitors, but pay more attention to what you're doing.

When you look at your competitors, remember that everything looks perfect at a distance.
What is your edge? What make you different? Why should someone work with you over the competition?

11. Never let anybody push you around.

Never let someone tell you “It can’t be done.” Don’t let other people’s opinion determine your success.

12. Never expect life to be fair.

Life isn't fair. You make your own breaks. Don’t let your down falls hold you back. You will fail many times before you succeed. Fail Forward Faster!!

13. Solve your own problems.

You'll find that by coming up with your own solutions, you'll develop a competitive edge. Masura Ibuka, the co-founder of SONY, said it best: "You never succeed in technology, business, or anything by following the others." Be you, and YOU will succeed!

14. Don't take yourself too seriously.

Lighten up. If you are walking around upset and uptight that is what you will get more of. Be happy and positive! None of us are in control as much as we like to think we are.

15. There's always a reason to smile.

Find it. After all, you're really lucky just to be alive. Life is short. Remember: "We're not here for a long time, we're here for a good time!"

16. Money is how business people keep score!

What’s your score?


To your success,

Sam Khorramian
Success Expert

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How to get more Short Sale Business Tip #2 of 8 (For Investors, Realtors, and Brokers)

How to get more Short Sale Business Tip #2 of 8 (For Investors, Realtors, and Brokers)

Tip #2 of 8 on how to get more Short Sale Business

I am committed to helping Realtors and Brokers expand
their business by providing marketing tips and structuring
the short sale experience so you keep your full
commission and do minimal work.

This tip is all about:

CALLING LOAN MODIFICATION COMPANIES TO GET TURN DOWNS

This is an excellent way to generate
short sale listings! Many homeowners want to
explore a loan modification before resorting
to a short sale, however most simply
do not qualify. Mainly because they have a
permanent hardship (like loss of job)or they
can't afford the three grand that the loan
mod company charges.

Most Loan Modification companies have
large quantities of these "bad" leads (bad for them, good for you).
Partnering with just one large company could staff a
full office of agents listing short sales for months!

The idea is that you call them and set up a relationship
where both you and the loan mod company are
benefiting. If you call and simply try to ask
for business you might not get very far, but if
you get creative and come up with a plan
where everyone will benefit from the relationship
you can have great success!

Now is the time to make those partnerships
happen and then sit back and watch the short sale
listings come to you.

Keep in mind, with Short Sale Pros you keep
all your commission and we do all the work work with the bank!


What other methods are you using to take advantage of the short sale market? Look out of tip 3 coming out soon!


Keep in mind, you can contact me anytime to help get your short sales closed, with our model you keep all your commission and do none of the work!


To your success,

Oliver Graf
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360



*** Make sure you sign up for our FREE mailing list today! ***



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Real Estate Foreclosure
Real Estate Short Sale
Real Estate Avoid Foreclosure
San Diego Based Real Estate Blog

How to get more Short Sale Business Tip #1 of 8 (For Investors, Realtors, and Brokers)

How to get more Short Sale Business Tip #2 of 8 (For Investors, Realtors, and Brokers)

Tip #1 of 8 on how to get more Short Sale Business

I am committed to growing your business by providing
marketing tips and structuring the short sale so you keep your full
commission and do minimal work.

This tip is all about:

CALLING EXPIRED SHORT SALE LISTINGS.

A MLS search can provide another piece of useful information that most
agents don’t utilize.

An expired short sale listing can sometimes be up for the taking. Approach
the seller by explaining that their property most likely didn’t sell because it was not priced correctly. This can be quite common with the constant fluctuation in the market.

Setup a search in the MLS to deliver updates
to you every day with the following criteria:
1. Expired listings
2. Short sale
3. Price range and location you want to work

By offering them a no-cost solution to their problem by using YOUR listing
experience and Short Sale Pros negotiation expertise, they have the best chance at
selling their home, saving their credit, and insuring their ability to purchase again.


What other methods are you using to take advantage of the short sale market? Look out of tip 2 coming out soon!


Keep in mind, you can contact me anytime to help get your short sales closed, with our model you keep all your commission and do none of the work!

To your success,

Oliver Graf
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360



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Real Estate Foreclosure
Real Estate Short Sale
Real Estate Avoid Foreclosure
San Diego Based Real Estate Blog

What is the Credit Impact of a Short Sale vs Foreclosure?

I was recently asked the question by a homeowner going into foreclosure…

What is the benefit of going into a Short Sale vs Foreclosure?

Although this is a question we get asked with nearly every client, this particular client wanted to know all the exact specifics. Since you are reading this now, you can probably benefit from the information that we found out when digging even deeper into the issue of what is the best option for most homeowners: Short Sale or a Foreclosure?

After doing all the research I am convinced now more than ever that the decision is a no brainer for most homeowners… A Short Sale is the OBVIOUS choice. Take a look at an email I sent to this client and see for yourself:

“Hope your doing well. We have been playing a little phone tag lately it seems, give me a call back when you get the chance.

After our conversations, you sparked an interest in me getting to the bottom of the question Short Sale vs Foreclosure?

Along with finding out great information on the mortgage debt forgiveness relief act:
http://realestateblog360.blogspot.com/2009/04/what-is-mortgage-forgiveness-debt.html

I also recently contacted Fannie Mae to get their latest guidelines as far as the exact credit impact of a Short Sale versus a Foreclosure, which I thought would be helpful to you in your research:

Short Sale: Fannie Mae refers to these as “Preforeclosure Sales” and requires only a 2 year waiting period after the sale, with acceptable re-established credit to re purchase.

Foreclosure: Standard minimum 5 years waiting period, with minimum of 10% down & 680 credit score for 7 years to re purchase. Primary residences only, no second homes or investment property loans for 7 years.

Take a look at the full report: https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0816.pdf

Give me a call when you get the chance and we can discuss how you wish to move forward.”

Meaning: If the property owner goes through a Short Sale they will be able to purchase a home again in the next 2 years. A foreclosure on the other hand, they will have to wait at least 5 years!

The question is simple: Do you want to purchase a home again in 2 years or 5?

Who would want to do a foreclosure? Which do you think is better?

Contact me anytime for help or questions,

Oliver Graf
Real Estate Expert


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Real Estate Foreclosure
Real Estate Short Sale
Real Estate Avoid Foreclosure
San Diego Based Real Estate Blog