Bill Carmichael

Short Sales Are not for the Faint Hearted

2009-08-20T06:00:00Z

After working on numerious short sales I am rarely amazed by the twists and turns but end up learning something from each one.

Currently I am working with a large bank that is servicing a loan and will not consider postponing the foreclosure sale date because they only service the loan. The investor has set the bidding instructions at a certain level and now say the short sale amount is below this amount. Talking with the banks loss mitigation department, which is a challenge in itself since you always talke to someone different and all they do is read the notes on the file. Well I was told there was nothing I could do it was set for sale and that's that.

The value the investor of the loan set is unrealistic and the short sale buyer is close to market value. Who said banks didn't want properties to go to foreclosure......they are doing nothing to help the situation.

So after some investigating I found the investor who purchased the loan and am attempting to communicate with them to dispute the value set for the sale date. I am hoping to postpone the sale and get an approval on the short sale.

Of all the ones I have dealt with this one has been one of the more challenging because of the tight time frames.

Short sales require a lot of patience but more persistance than anything. Getting the answers and completing a sale sometimes takes 4 times the amount of work of a normal sale but once competed is very rewarding. These short sales should be called 'Long Shorts'. Being able to help clients prevent foreclosure is a great acheivement I am proud of.

I strive for 100% success rate but hear other agents say it should be around 70-80%. This is not my idea of success but might be realistic. I have yet to not complete a short sale transaction.

Interest Rates have Dropped & Loan Limits Raised

2009-03-23T23:29:00Z

This is a great time to refinance or buy a home.

Current conforming loan limits recently raised to $729,750 which allows borrowers to put down 3.5% of the purchase price. Also allows for higher loan amounts to benefit from lower interest rates.

Currently rates are in the 4's depending on credit, financials, loan amounts and lenders.

2 Story For Sale in Hatton Fields

2009-01-06T06:00:00Z

Luxurious Living Near Everything

• 3,500 sq. ft., 3 bath, 4 bdrm 2 story - $2,495,000 - Under Appraised Value

Hatton Fields, Downtown Carmel - This custom home at 26157 Atherton
is close to completion and has been built with great attention to detail using some of the finest finishes throughout. It boasts
a 3500 square foot 2 story floor plan all heated by a high
efficiency radiant system with multiple zones. There are 2
main master suites, one upstairs and one downstairs with a
third smaller suite facing the privacy of the back yard.
The upstairs suite has a sitting room, deck and office.
The main living spaces have 20 foot ceilings and ridgeline
skylights bringing in vast amounts of natural light. The front yard of this corner lot is protected by a large hedge creating
privacy from the street. Guests can drive right up to the
front door from either street along the circular drive or
park on the side driveway which faces the garage.

Please call for a private showing!

go to trackinghomes . com for automated property search via email.

Property information

2 Story For Sale in Mid Carmel Valley

2008-12-07T06:00:00Z

Awesome Family Home or Investment Rental

• 2,494 sq. ft., 3 bath, 4 bdrm 2 story "No Stairs to get to main living area" - $795,000 - Great Price Great Propert

Mid Carmel Valley, Carmel-by-the-Sea - Great property near mid-Carmel Valley situated on a 1 acre lot with views of Carmel Valley Ranch.

Second master suite with seperate entrance and interior staircase accessing second floor.

Huge amounts of storage under house with potential to increase living area square footage.

Home surfaces are original but in very good condition.

Great price even in this market.

Ask Bill how you can earn up to 200,000 air miles with your closed real estate transactions!

Property information

Single Story For Sale in Highway 68

2008-10-06T06:00:00Z

Views to take your Breath Away

• 4,200 sq. ft., 3 bath, 4 bdrm single story "One Level Living ARea" - MLS® $2,875,000 - Lots of house

Highway 68, Monterey - Breath taking Monterey Bay views from Point Pinos in Pacific Grove to as far as the eye can see towards Davenport Santa Cruz.

Wonderful one level home with an open floor plan.

Every room has spectacular views.

Hardwood floors , high ceilings, large spaces, large windows, outdoor living spaces and much more.

Pre-designed space for elevator from garage to house center.

Ask how you can earn up to 200,000 Air Miles with your closed real estate transactions!

Property information