subject Business Реклама Recent Posts Posts Tagged ‘subject’ « Older Entries How to get a short sale approved – pat 1 of 3 October 29th, 2010 | Author: admin How to Get a Short Sale Approved – Pat 1 of 3

Copyright (c) 2008 Cory Boatright

A “short sale” has certainly been a buzz word with all the foreclosures taking place in today’s real estate market. Distressed homeowners are looking for creative ways to sell their homes quickly. However many Realtors and investors are still unclear on how to get a lender to accept a short sale offer. Here is how you do it.

The following steps are to be used as guidelines on determining what to offer the lender to get a short sale acceptance. It is recommended that you consult a legal adviser before involving yourself in any real estate transactions.

All the steps you need to know:

1. Determine Fair Market Value (FMV)

2. Evaluate Sold Comps Systematically

3. Reveal the ARV (After Repair Value)

4. Figuring out the Lenders BPO

5. What is The House Type?

6. Learning the Loan Types

7. Memorizing the Percentages

8. How to Deal with Junior Lien Holders

9. In Closing

The FMV can be determined by evaluating sold, comparable properties in a similar or close proximity to the subject property. A Realtor will have access to the MLS (Multiple Listing Service) and can create a CMA (Comparative Market Analysis) for the subject property. This analysis will identify sold comparable properties with same square footage, bedrooms, baths, garage and other similar characteristics. Request the Realtors use a sold time frame within 6-12 months when pulling properties in the immediate or surrounding areas. Usually the short sale lender will not consider any sold comparables that are older than 12 months and that are further away than 2 miles from the location of the subject property.

2. Evaluate Sold Comparables Systematically

Contrary to popular and often misguided belief; you can use a formulaic system to work in your favor when determining what to offer on the short sale property. The way this works is like this

Let’s say you have eight sold comparables. You would take out the two highest comps and the two lowest ones and average the rest.


You have a property you think is worth $145,000.

A Realtor pulls a CMA and you find eight sold comparable properties.

The MLS (Multi Listing Service) shows the following sold property values:

$159,000 $154,000 $153,000 $161,000 $148,000 $143,000 $146,000 $151,500

When you use the formulaic approach you would take the two highest sold comparables ($159,000 and $161,000). Take out the two lowest sold comparables which is ($143K and $146K). This would leave four others comps.

$154,000 $153,000 $148,000 $151,500 ———–

You would then take an average by simply adding up the sum of all the sold comparables and dividing them by the total number of properties left. In this case, that number would be four.

Total: $606,500 divided by 4 = $151,625

You can reasonably justify the house may sell for $151,625 instead of the $145,00 you originally estimated.

3. Reveal the ARV (After Repair Value)

This terminology is jargon or slang often used with real estate investors. FMV (Fair Market Value) is similar. The ARV is made up by the amount of repairs the investor thinks the property needs in order to sell quickly on the open market using FSBO (for sale by owner) techniques and not using the MLS.

It can be argued the ARV is more of a guess or suggested value derived by using sold comparables from houses that were NOT sold by a Realtor. One way to explain the difference is a Realtor will typically use a FMV (Fair Market Value) evaluation method. A real estate investor may elect to use an ARV. An appraiser can use both value methods, but generally sticks to the ones that come from off the MLS. The ARV is a less accurate and dependable value than what come off the MLS. It doesn’t hurt to know both.

(continue reading.. How to Short Sale Real Estate and Get Your Offer Approved – Part 2 of 3)

Posted in Forex | Tags: , , , , | No Comments » Internet marketing, entrepreneurship, and persistence October 22nd, 2010 | Author: admin Internet Marketing, Entrepreneurship, and Persistence

Why do some people succeed while others don’t? Intelligence, resources, strengths. But one of the most vital is possibly persistence.

When I first began working online I saw that while there were thousands of people looking for ways to earn money online, only a percentage of them became successful, and a handful became extremely successful.

While you still hear the occasional story of the cyber-rapid progression from rags to riches, these stories become fewer and further between. There is more competition online than there was a few years ago (although, once you know what you’re doing, there actually isn’t much real competition). And it isn’t possible to short-cut or cheat oneself into momentary wealth, as once may have been.

I decided that the key difference between the successful and the not-so-successful must be, primarily, persistence.

There are many other qualities. The ability to focus, to pick out key data, to value importances, to study and apply, to learn from one’s mistakes, to finish what you start … and probably a lot more I could list out.

But this factor, persistence, must rank high among the make-break qualities of a successful Internet Marketer (or a Successful-Internet-Marketer-To-Be).

A “positive attitude” helps. Deciding one is going to do something and that no barriers are going to stop one. Deciding that one will study and work, to get past any barriers. Deciding that success is possible.

But, even if you don’t have a positive attitude – persistence might get you there anyway!

If you have ever seen a hungry man open a can of food with a broken can opener, you might get the picture of what I am talking about.

At about 4:00 a.m. one night in Belgium I had just published my 38th Squidoo Lens for a certain niche I was working on. (Squidoo is a website which enables one to publish individual pages on the subjects of your choosing, and each page is called a “lens.” I was working on creating fifty lenses before a certain date. I had two more articles ready and waiting to be turned into Squidoo Lenses. I had made thirty Squidoo lenses in the previous two weeks.

I said, “That’s it. For the first time in two years, I had had enough of my computer! I just want to go to the beach or something!” (I’m not even a beach person, and there was nothing similar to a beach near Brussels in the autumn). I said, “And I’m not bringing my laptop! I’m just going to sit there. I’ve had enough of Squidoo Lenses.”

Then I sighed, got up, and said, “Well, at least I’ll go get a cup of coffee.”

So I got up, made my coffee, sat down again, and grumpily started making my next Squidoo Lens.

Well, I don’t know if one would say I had such a “positive attitude” that evening. Or, at least not a cheerful one. I had already started dreaming about SERPS (Search Engine Results Pages).

In fact, I got a pretty funny look from my husband when he told me the best way to make coffee without a filter, and I said “make a Squidoo Lens about it honey.”

Well, Squidoo is tons of fun. But after 30 lenses in two weeks on technical subjects, I think we can all agree … even the most fun stuff can get un-fun.

This article is not really about Squidoo, it is just the example I happened to use.

The point is that this is sometimes going to happen in Internet Marketing – or in any endeavor, for that matter.

The “thing you should do right now” might not always be the “thing you feel like doing right now.”

And once one gets rolling on one project, it’s easy to drop it in the middle to go chasing after a new “more fun” project. (You might not label it that way, but lets face the facts! It might not even really be “more fun and interesting,” but just “new”!)

Well, that first project might have been on the brink of creating some serious income, before you balked at the less exciting work that you would have had to do next. Or the bigger tasks that had to be completed.

So it’s not just a matter of generally persisting in a specific endeavor such as Internet Marketing.

There is also persistence in carrying a given project through to a “done,” once you have started it.

If you really need a break from what you are doing, then go ahead. As long as its proportional. A few minutes spent watching the Muppets on YouTube can be therapeutic. So can a walk around the block!

Or if your current task becomes just too mundane, work on something else for a little bit. But something valuable.

Just make sure you return to your original task and complete it. You will feel better and you will also get more done.

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