December 2010
85026 PERMIT 1441
Featured Property Would you like to sell your home but think you can’t? Are you waiting for home values to appreciate more before you put your house up for sale? Waiting for home values to rise (and they will at some point) actually might not be your smartest financial move. Why? Once the economy begins improving,
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interest rates will rise. As of press time, the 30-year Fixed-Rate Mortgage is averaging 4.16%! That’s the lowest in our nation’s recorded history! Waiting and selling your home for more money just may offset any gain when you then finance at the higher rates we will have. Your pool of potential buyers will be different then too – many not able to qualify at the higher rates when they would have qualified today. Don’t forget, if you’re selling your home near the bottom of the market, you’ll be buying at the bottom of the market too. Give me a call and let’s discuss this further. I have good information for you that you’ll find valuable.
OUR EXCLUSIVE SELLER GUARANTEE: Your home sold in 64 days, at a price acceptable to you, or we will pay you $5,000 cash*. Visit www.HomeSoldGuarantee.com or call 602.369.0988.
STAY CONNECTED! Receive this newsletter, Aviano market reports, and Aviano properties not yet listed via e-mail. Simply call, e-mail or text me your e-mail address.
Paul Bruno
Mobile: 602.369.0988 Paul@PaulBrunoGroup.com
www.TheBrunoGroup.com
An Important Message from our Short Sale Department: I am normally a very happy and optimistic person, but today I am a little angry over what I have been hearing in Aviano, and I have been flooded with phone calls as a result. Don’t worry…my anger will last about five minutes, but I am writing this after just hanging up with an upset Aviano homeowner, who had an inexperienced Real Estate team involved in a short sale. I have to say, that I have been hearing lately that short sales are hard to do if not impossible, and Aviano homeowners are getting their short sales declined and going into foreclosure. I cannot stress enough the importance of having an experienced short sale expert on your side. According to the National Association of Realtors, most real estate agents do not understand the nuances of a short sale. They don’t do enough transactions to understand them fully. Most lawyers hire employees for their practices to deal with the banks. These employees have no training, because lawyers are only trained in giving legal advice not negotiating with banks on short sales. Do you think a lawyer is going to sit on hold with Bank of America for 40 minutes in the middle of their work day to deal with a short sale? They will take your retainer upfront, and pass it off to someone else in the firm, who never returns your phone calls. The transactional work alone in a short sale is comparable to four times that of a traditional real estate sale. The ability to analyze the homeowner’s financial situation and come up with a strategy that involves the type of buyer and contract is key to the success of a short sale. I cannot say enough that planning the transaction at the beginning and expecting how the bank is going to perceive the seller is key. I will give you an example of a Savino model we recently sold where the buyer had an extremely high second mortgage. By the way, the second lien holder also has to agree to the short sale as well…not just the first lien holder. So, my team decided that we would only entertain buyers that were willing to come to the closing with cash to pay down the second lien holder only if requested. Part of our strategy was to only contract with a buyer who had cash in the bank to cover a request, by the second lien holder, for the seller to make a cash contribution. Don’t worry, because they are plentiful in the Aviano price ranges. The numbers were all the same at the end of the transaction, but the structure of the transaction took short sale creativity and foresight, which most real estate agents have never experienced before. If you call me, I will be happy to explain the detail of this transaction in person. This short sale was approved within 45 days, because my team had the foresight to spot a potential problem in the transaction at the beginning and plan a strategy to deal with it. You need someone on your side that can evaluate a transaction at the beginning and plan the proper course of action. Only 2% of the nation’s realtors can do this, and the person writing this is one of them. Please call me with your short sale questions at 602-369-0988.
*Based on lender-approval. Conditions apply. If your home is currently listed, this is not a solicitation for that listing.
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