Experianced El Dorado Hills Real Estate Short Sale Specialist.
Buying or Selling a Short Sale Property in El Dorado County, choose an experienced Short sale specialist and avoid foreclosure with a Short Sale. Choose an agent that is certified as a distressed property expert.
Mortgage Debt Forgiveness Act Update January 2, 2013
As part of the fiscal cliff deal, the Mortgage Debt Forgiveness Act of 2007 has been extended for one more year. Under normal circumstances, debt forgiven as a result of a short sale or mortgage modification would count as income for tax purposes. For instance, if somebody owes $250,000 on their mortgage and their lenders agrees to a $200,000 short sale, $50,000 in debt is forgiven. This would have been taxable without an extension of the law.
According to RealtyTrac data, short sales made up 22% of all residential short sales in the third quarter of 2012, a 17% year-over-year increase. A failure to reach an extension to this debt forgiveness law would have been deleterious to the nascent housing recovery.
At the end of the day, short sales are an important mechanism to clear negative equity from the housing market. Although not totally benign, they tend to have less negative impact than foreclosure (which is probably the most destructive market clearing tool).
Realtors and real estate agents that have earned the
Certified Distressed Property Expert (CDPE) Designation go through continuous
training to understand the solutions, options, and process for dealing with
homeowners facing foreclosure.
Connie Barnes is certified RES.NET AMP REO, Five Star
Institute REO and BPO, Equator Platinum REO and Short Sale, CDPE, BofA Short Sales
Policies and procedures. If you have a Bank of America home loan, Chase Mortgage or your loan is will Wells Fargo Bank, we can help negotiate a short sale for you.
The Connie Barnes RE/MAX Team works with short sale negotiators and asset managers at Citizens, One West, Chase Endemic, American Home Mortgage Services Inc, BofA, Bank of America, Countrywide Bank, Wells Fargo Bank, Acqura Loan Services, OCWEN, PNC, Banco Popular and others.
If you can no longer afford your home or don't want to stay in it, a short sale may be right for you.
Millions of Americans have been hurt by the housing downturn and are overwhelmed
by mortgage debt. Today, almost half of our local real estate listings are short sales. A
short sale gives impacted homeowners a chance to exit the property more gracefully and
avoid foreclosure.
By doing a Short Sale your credit recovery period is generally much faster than going
through foreclosure.
WE WORK DIRECTLY WITH YOUR BANK
NO OUT-OF-POCKET EXPENSES
If a short sale is right for you, we can market your property and aggressively negotiate a short sale with your lender. All real estate commissions are negotiated and paid by your lender!
The Connie Barnes Team works with most major banks and has a high success rate in negotiating and selling short sale properties. Connie Barnes Real Estate has the people and systems in place to manage your short sale effectively. We work with lenders like Bank of America, Chase, Wells Fargo, OneWest / IndyMac, Golden One and many others.
QUALIFIED, CERTIFIED AND AT YOUR SERVICE
Many banks now have sophisticated systems in place in order to facilitate short sale transactions more efficiently. Today, Realtors need to be trained and certified to use all of the various platforms that lenders have in place to manage their distressed inventory of real estate. We have invested an extraordinary amount of time and money to qualify to do a short sale with virtually any lender.
Certifications include; RES.NET AMP REO, Five Star Institute REO and BPO, Equator Platinum REO and Short Sale, CDPE, BofA Short Sales Policies and procedures.
Short Sales; The New Real Estate Reality:
By Callie Mirsky: Realtor Associate, Escrow Manager, CDPE, Short Sale Negotiator for the Connie Barnes Real Estate Team.
In today's real estate market, distressed properties are common. Many agents on both the buyers and sellers side have shied away from dealing with these types of transactions because they do in fact require a significant amount of time and work as compared to a standard listing. The Connie Barnes Real Estate Team has welcomed the opportunity to work hard for all of our buyers and sellers. Connie and her team have taken the extra step and obtained the Certified Distressed Property Expert designation and become educated about the ins and outs of the Short Sale process and negotiating with the banks.
We try to make this difficult process as easy as possible for our buyers and sellers. We give you all of the information up front, discuss your options with you and try to find the solution that will work best for you. We take the time to explain what a seller might expect during the transaction and keep you updated throughout the process. In negotiating with the banks, we are polite but persistent as we understand that we must all work together well in order to get the desired result. We are very diligent with our follow-up and make sure to check in frequently for status updates and are constantly pushing for approval.
The challenge in dealing with Short Sale transactions is one that we embrace and have proven to be successful with. There is no greater satisfaction than truly being able to help each and every one of our clients. In selecting Connie Barnes as your listing agent, you can feel confident in knowing that your Short Sale will be handled with the personal attention necessary to reach a successful closing.
Make sure to read about a "Buyers Experience" with Callie and the Connie Barnes Real Estate Team!