If you are a first time home buyer or know someone who is in the real estate market looking for a home then this information is vital. The government is offering home buyers incentives to purchase a home by April 2010. The homebuyer tax credit for first time buyers is an important tool in helping buyers get into a home. This article is the most informative and inclusive information that I have read. Read it and you will be well informed on if you qualify for the real esate tax credit.
http://tinyurl.com/yd82do4
There is tons of information out there for the real estate bargain hunters. There is info on low interest rates, on how to repair your credit ratings, on which real estate markets are the best value and so on. This article that I just read is by far the most informative and optimistic article I have read in a long time. Now is the time to buy real estate and here are some of the reasons. Read on and enjoy
http://tinyurl.com/ygm4l59
If your house is on the market and not selling, that is, days on the market are over 100 days then this article on how to get the most money for your house will be helpful http://tinyurl.com/yfxxu4s
Lately the Taos Home and Land staff/Realtors have been involved in many actions that are far different from the ordinary real estate fare. We have closed many for sale by owners FSBO transactions in the past year. These FSBO closings are wonderful and rewarding for all parties involved. The sellers get to move on with their lives, the buyers get a house that was never listed and also get a fantastic deal and the Realtor get the satisfaction of bringing two parties to the transaction together under one common goal-to make a effortless real estate transaction. I love assisting Buyers and Sellers in meeting each other and working in harmony to close their real estate deal. Very rewarding.
We have assisted in getting people and businesses refinanced. In one case we helped the Taos animal shelter find a refinance deal by a private party. This deal helped lower the animal shelter's monthly financing costs and allowed them to save a lot of interest. Another deal we assisted an elderly couple reduce their mortgage significantly so that they can live out the rest of their lives in this house without fear of making a large monthly mortgage payment. All were amazing win/win scenarios.
We just completed a Short Sale with Wells Fargo Mtg Company. This deal took a little over 6 weeks to complete-a record time in Taos County. The seller was able to keep their credit in tact and not have a deficiency judgment against them. The Buyer got a great deal. Wells Fargo was able to sell the property for what they needed to and not have to go to the foreclosure process. Both Realtors were paid their full commission and the economic ramifications were limited to virtually nothing.
Currently I am processing a mortgage loan modification. This is a process sponsored by the Feds to help people in need of lowering their mortgage payment. This program Making Home Affordable is an excellent program for the right person. I am personally following this process for a client and we are near the end of the rainbow. Hopefully there will be the pot of gold for the parties involved. This process is not quick and needs a lot of attention to detail. If you or someone you know is in need of lowering their mortgage and is not in foreclosure have them contact me and I will gladly assist in getting the process started. Distance is immaterial everything is done over the Internet or via fax. Don't waist a precious second if you need loan modification.
We have been very busy at Taos Home and Land creating a new face of real estate. More to come.
Be well,
chaz rothenberg
It looks like there is a snafu in applying for the $8,000 first time home-buyer stimulus. The fed i.e. IRS do not have a form to file for the rebate. This article explains it in detail http://tinyurl.com/yk6jkd7
Remember you read it here first.
chaz rothenberg
This article is very informative on how to save money on you personal income taxes
http://tinyurl.com/yhabrgk .
Today the purchase money mortgage market is still pretty tight. The refinance market is equally as tight. This article is a fantastic tool in pre-qualifying your buyers or in fixing your credit to get a mortgage loan http://tinyurl.com/ydfnqeu . Remember it is great to have your dream house in sight and to have the seller agree to your terms of the purchase contract. However, if you do not qualify for the loan all is for naught. If your interest rate is high and your payments make you feel uncomfortable then what is the use of buying your dream house if you will feel stressed out making the payments. All my clients have their credit scores checked before they even look for a house and they are pre-qualified before we write an offer. Do everyone a big service and get qualified by a reputable mortgage broker before you fall in love with your dream home and make an offer on it. Now is the time to do that and then go out and look for the best property and the best deal you can find.
Enjoy the process and be well.
chaz rothenberg
This short sale took 2 months from contract to closing. Very efficient and saved the seller from going to foreclosure. All parties won on this transaction. Even the mortgage company came out a winner. The sellers credit is not ruined and there is no deficiency judgment against the seller.
Remember Taos Home and Land is changing the face of the real estate and you can be the next face to be changed.
All the best and be well.
Chaz Rothenberg
We finally closed our first and fastest short sale, right before the end of the year. We love closing deals at the end of the year and at the begining of the year. We really love closing deals any time of the year. This deal took 10 weeks to close so if you are a realtor or a seller or buyer you need to know that the quickest time to do a short sale is 10 weeks.
That's it for now will keep you up to date on new and improved deals.
All the approvals are in and now we will submit all the title paper work to the closer and get ready for closing. One thing the short sale departments require is a certified check to close. Wire transfers are not allowed,don't know why but the funds can only be in the form of a cashiers/bank check. This transaction slows down the closing process a little bit which is only a small inconvenience to the whole process.
When this deal closes we will celebrate on both sides of the transaction. We at Taos Home and Land will be experienced in the short sale process and will be able to assist anyone in any part of the country in selling their property pre-foreclosure. So if you are reading this blog and know of someone in need of assistance in avoiding foreclosure and they want to sell their house have them contact me and I will help them.
The next topic will be loan modification for the home owner who wants to keep living in their home.
It is True, you are the real estate turn around.
Be well,
chaz rothenberg
Here is another twist to doing a short sale. Even after the lender approves the short sale there is the possibility that there will be legal actions popping up in the court house. Today we received the updated title binder and a Lis Pendens was found at the court house. A Lis Pendens is a legal action. This deal cannot close until the this Lis Pendens is taken care of. What is this particular Lis Pendens? It appears to be the legal fees a third party, law firm, has put on the property for their work on the foreclosure process. Who pays them is the next negotiating process. I know the Selle's has no money to pay them and the seller also didn't retain this law firm, the mortgage company retained this law firm. So common sense says the mortgage company pays the fees and we go to closing. More to come.
Be well,
chaz rothenberg
We at Taos Home and Land are at it again, that is participating in the FSBO market. We received a rousing testimonial on our performance on the last FSBO transaction. Now we have another FSBO who wants us to represent their property in a sale without using the MLS. This is a bit tricky to do because there is limited exposure to the Realtors. However, we have a strong buyer data base looking for properties and are not finding what they want on the MLS. So when a seller comes to us to discuss selling their house or land and do not want to pay all the commissions to sellers and buyers Realtors, we gladly will take the info and see what we can put together. It turns out that there is a buyer in my data base that is looking for a property exactly like the one this FSBO has for sale. We are going to facilitate a meeting of the buyer and seller on Monday and proceed to put a deal together where both parties appreciate each other and both parties benefit from our services at Taos Home and Land. I Truly love participating in transactions like this. As my good friend and confidant Frankie D says "Chaz is changing the face of real estate forever". I like that and appreciate his honesty and his bold assessment of our abilities at Taos Home and Land. Let's all of us change the face of real estate now and forever. Let's work together and build a strong foundation for our own financial and personal health.
As always if you are reading this blog then you are the real estate turn around.
Be well,
chaz rothenberg
Now we have the approval of the short sale from the lender. Once they approve (this was fast 2 months) of the short sale then their clock speed up. Sometimes we have 48 hours to respond or the sale gets kicked out of the short sale dept. Right now we have a junior lien that was not on the original title binder. This 2nd lien is not negotiable and the short sale will not go through without this being paid off. Looks like we are still in for a ride on this sale. Always the excitement in the new real estate market. Will keep all of you readers up to date on this deal.
Remember you are the real estate turn around and the future of our market.
Be well,
chaz rothenberg
It looks like all the documents have made it to a person who has the power to make a decision. This took seven weeks. I have received an email directly from this person and am in virtual communication with him. Exciting and a little nervous, because I don't want to mess up the process. This is where my faith and expert qualifications play into the equation. So all I will create is a calm and supportive experience in the short sale of this property. The deeper I dive into this experience and the greater I Trust my divine self the more balanced I am. There is only the creation of this sale and knowing that I am creating all aspects of it. Let the process unfold and enjoy the ride. This is my inspiration approach to selling real estate. More to come.
Be well and enjoy the ride.
chaz rothenberg
This is the concise list of what is needed to apply for a short sale.
1. Listing agreement
2. Purchase contract
3. Buyers qualification letter
4. Sellers net sheet or HUD 1
5. Hardship letter signed and dated
6. Seller's financial statement (income vs expenses)
7. Pay check stubs
All these items must have the loan number on the top page and be signed and dated by the seller. Remember this is a short list for conducting a short sale. Each loan Romany may have other requirements for buyers and sellers to produce. However these are the basic docs and for Wells Fargo Mtg these will do.
So if you or someone else is in the pre foreclosure status try a short sale. I will be glad to assist in any short sale in any part of the country. A mortgage is a mortgage and a short sale is a short sale. Be sure you get the short sale started before the foreclosure process begins.
As always if you are reading this then you are part of the real estate turn around.
Be Well,
chaz rothenberg