15Jul 2016 by admin

An Open Letter: Oregon Foreclosure Avoidance Program

Oregon Foreclosures, Short Sales
I've heard from clients over the years that they had gone to the Oregon Foreclosure Avoidance Program in search of more information about short sales and what options home owners in Portland, Oregon have available. As part of the mediation process, State of Oregon mediators often refer home owners to real estate agents, some of whom may have little short sale experience. This last week, a client called in and set up a short sale listing appointment with myself after being referred to Realtors in Portland who had only done a very small handful of short sales and to me this seemed unfair to the home owner. With this in mind, I have written the following open letter to the Oregon Department of Justice asking to be one of their…
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30Jun 2015 by admin

Short Sales in 2015

Real Estate, Short Sales
How Short Sales Have Changed in the Year 2015 Increases in home values in the Portland area, defaulted properties going to foreclosure and home owners completing short sales are all contributing to a reduced amount of short sale inventory. However, high demand from well-qualified home buyers and a pronounced dearth of available homes for sale in Portland mean that short sales remain a viable option for sellers with negative equity as well as cost-conscious consumers looking for a good deal on real estate in Portland, Oregon and surrounding communities. Further slowing down housing inventory turnover are home owners who are upside down that may be holding out on selling in the hope that prices will increase further and allow them to sell at a higher price that would leave them…
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30Sep 2014 by admin

Short Sale Specialist Report: Milwaukie, Oregon Fall 2014

Short Sales
We're short sale specialists serving Milwaukie, Oregon and we've helped a multitude of home owners just like you regain their financial freedom. Our of our team members are SFR (Short-sale Foreclosure Resource) certified specialists and we always handle all negotiations in-house so you get the best quality service. Some of our competitors outsource the short sale work but this often leads to buyers and sellers getting stuck with blue-sky middleman fees. When you call us you speak directly with experienced Realtors who are ready to help you short sale your Milwaukie, Oregon property. We Negotiate Your Short Sale Personally: It's Our Duty To Put Your Needs First We want your short sale done right, so we do it ourselves (providing a better service while saving you money by not tacking…
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30Sep 2014 by admin

Short Sale Specialist Gresham, Oregon Report Fall 2014

Short Sales
If you need a short sale specialist in Gresham, Oregon give us a call. Whether you need help with buying or selling we'll make things happen for you. We work with all major banks and we negotiate directly with the bank on your behalf. It's important to note that as negotiators and Realtors we work for you and have a legal duty to serve your best interests. While we work with the bank to make the short sale win-win so the bank will say yes, our fiduciary obligation is to deal honestly with our clients while acting in good faith to you. Get Help With Your Gresham Short Sale Now: 503-473-8001 We Never Charge Extra Fees For Short Sale Services We're brokers with Oregon Realty Company, the largest independent brokerage…
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29Aug 2014 by admin

The Equator Short Sale System

Short Sales
Equator: Short Sale Specialist Discussion Who am I? I’m Richard Lockwood, real estate broker licensed in the State of Oregon and a Realtor in good standing. I work directly with Bruce Lockwood my business partner and have helped hundreds of people successfully complete short sales. Bruce and I are brokers with Oregon Realty Company, the largest independent brokerage in the state and our firm brings almost 7 decades of real estate excellence to every person we help. I am not an attorney, I am not a tax professional and I can’t give legal or tax advice… That said my experience as a broker in short sales speaks for itself. Who Uses Equator? Many major banks such as bank of America, wells fargo, nationstar and others use the Equator platform as…
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19Jun 2014 by admin

What is a BPO? Short Sale Specialist Explains BPO Do’s & Don’ts

Short Sales
People involved in short sales and even loan officers and Realtors who haven't dealt with them may ask themselves, what does BPO stand for? The quick answer is Broker's Price Opinion. The bank and its investors who are considering taking a loss on a short sale won't take the sellers' or the Realtor's word on the best price for the property. As such, the BPO is something like the bank getting a second opinion from another (supposedly independent) Realtor. The bank will then use this value as a factor when considering the short sale application. It's important to make sure that the bank does an "Interior BPO" because sometimes the bank will use an automated, computer-generated value that is often much higher than the real-world price. At times, it seems…
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06May 2014 by admin

Funny Short Sale Fail

Short Sales
Some time ago, while negotiating a short sale on behalf of a Portland Home Owner and the bank's phone system went into something of an endless loop of fail. And, while the bank's computer and phone systems failing is not very uncommon, on that particular day I had video rolling to capture the event for all time. I should note that eventually I did get through and we did successfully resolve the transaction but this video still serves as a reminder of the frustration that many home owners experience. The bottom line is we know how you feel and we can help! If you need a short sale in or around the Portland Metro area don't hesitate to give us a call. We're ready to listen and we're experienced in…
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01May 2014 by admin

How To Fill Out The Wells Fargo Short Sale Affidavit

Short Sales
Who am I? • I am a real estate broker licensed in Oregon • Broker with Oregon Realty Company • Top producing short sale agent Disclaimer: • I am not an attorney or accountant and this video is not legal, tax or financial advice. • That said, these are forms common to the short sale process and you will see them if you are involved in short sale real estate with wells fargo. Short Sale Affidavit Tips: • Ensure you have the current form version and call in to 866-903-1053. • Don’t wait for the bank to ask for the form. • Use the last date on the sales contract. • Fill in all details buyer & seller address. • Put the following language on an addendum: “This contract shall…
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02Apr 2014 by admin

Housing Recovery, Short Sales & The Economy

economy, Short Sales
The Aftermath: Prices Can't Bounce Back In the wake of the recession many home owners hoped to be able to sell their homes as prices increased and for some this has in fact happened. However, if prices did go back to 2008 levels why would those prices be sustainable in 2014 if they weren't sustainable in 2008? I mean to say: have wages increased 25% in 5 years? No, then why should we believe that houses can increase that amount? And, more importantly, who would be able to buy them? As we move into the fourth month of the year 2014 some have asked if the short sale specialist is still relevant in the Portland Housing Market. To answer this question we're going to borrow a quote from former US…
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07Jan 2013 by admin

Portland Short Sale Realtor

Short Sales
SFR Specialists In Portland, Oregon Is Getting Relief From Mortgage Debt Your Priority? Our SFR ( Short Sale Foreclosure Resource ) designation signifies that in addition to being state licensed real estate brokers we have also completed the National Association of Realtors' SFR program. In addition to SFR certification, as specialists we have devoted countless hours to settling mortgage debt for our clients and pass this valuable experience on to home owners. As leaders and top sellers of distressed properties, we put our experience in settling mortgage debt to work for our clients in big ways; we use our successes in closed transactions to help us continually refine the best techniques and proven strategies. Furthermore, while we can't predict the future our track record with a wide variety of banks…
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