Please Consider Me for the Job!

Alway's real estate agent, c. 1913

HELLLOOOOO My Wonderful Beautiful Bay Area!!… Are you looking for a realtor to work with?… I’d surely like to apply for the job!… I love this job I do and the very best compliment is to have Happy Satisfied Clients!… The best way for you to get an idea of how I work would be to hear it from my clients… so yes I’m toooooting my own horn…

Mike and Nicole just sent this one today…  and I’m very proud to share it with you…

Isi is very professional and personable.  Being property virgins, she was able to point us in the right direction as to the reality of where and what we could afford.  She kept a close eye on our wants vs. our needs and kept us in tune.  If an opportunity came about, she was quick to notify us and was always willing to speak to us after hours.  After the close of escrow, we found some issues with our new place.  Instead of washing her hands of it, Isi was on top of it and ready to battle the previous Realtor, Owner, and HOA. We are very happy with Isi’s efforts and would recommend her to anyone looking to sell or purchase a home.  She also lined us up with great Mortgage and Title companies too. 

Mike and Nicole

If you’d like to see more Client Comments… please go to “Testimonials Tab” … It would be my pleasure work to with you… Please call or email me anytime… we can discuss what you’d  like to do and decide the options available to you.

Please Consider Me for the Job!!

Thanks for checking in…

Isi

Isi Wu… the realtor for you

Serving Clients All Over the Eastbay!

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How Long Do Short Sales Take??…

question

 

Hellooooo my Beautiful Wonderful San Francisco Bay Area!!… The Burning Question of the Day!!

Everyone listen up… NOT ALL BANKS have the same requirements to close short sales… Dont Assume they’re all the same… ding ding ding… please wake up sellers, buyers and agents!!… alarm clock

The short sale process is generally as follows…

  • Complete Short Sale Package from seller and submit…
  • Submit Offer…
  • Bank acknowledges receipt…. 10 to 30 days…
  • Bank orders BPO or appraisal… 30 to 60 days…
  • File is reviewed… 30 to 60 days…
  • Negotiator is assigned… 30 to 60 days…
  • Level 2 Negotiator may be assigned… 30-60 days…
  • File is approved or rejected… 60-120 days…

If you’re running past 120 days… its possible the listing agent or a 3rd party negotiator isnt on the ball and very lax in contacting the bank… calling the bank can mean waiting on hold anywhere from10 minutes to an hour or longer… or it could also mean the bank has internal problems ie) not enough staff or lost the file a few times… causing agents to resend packages over and over… You cant always avoid problems in a short sale… PATIENCE is key… threats to walk away from your offer means nothing to the bank… stick it out and wait… if you really truly want the home….

smileyhsesold

Thanks for checking in… your comments are always welcome…

Come back and visit all the time!!…

Isi

Isi Wu… the realtor for you…

Serving Clients All Over the Eastbay…

 

How Buyers and Sellers are Closing Deals in Today’s Market…

Negotiation is back in style, and is likely to remain a necessary part of buying or selling a home in today’s beleaguered residential housing market. Other key elements to a satisfactory closing are flexibility, perseverance, creativity and diligence.

Needless to say, you need to work with the best real estate professionals you can find in your area. In most cases, it takes a team effort to put a home-sale transaction together and see it through to fruition.

HOUSE HUNTING TIP: Successful negotiations usually require give and take by both parties. It has been said that the sign of a successful negotiation is one where both parties walk away feeling they have won. It has also been said that the key to a mutually acceptable agreement is that both sides feel a little wounded.

A must in this market is a commitment to exhaust all possible ways to put and keep a deal together before calling it quits. Recently, it looked like a purchase contract was about to fall apart. The buyers had originally offered a price that seemed insultingly low to the seller.

The seller set his personal feelings about the price aside and countered the buyers’ offer at a price he felt was reasonable. The buyers accepted. As it turned out, the price was one that was halfway between the seller’s list price and the price the buyers offered. Splitting the difference is often a winning strategy.

The house in question had been well inspected before the buyers entered into contract to buy it. However, when it came time for the buyers to remove their inspection contingency, they requested a large monetary credit from the seller. Not only did the buyers discover a few health and safety issues that weren’t covered in the previous reports, they also developed a serious case of cold feet.

These buyers were able to find jumbo financing at a good interest rate. However, to obtain this financing, they had to make a larger cash down payment than anticipated. This left them feeling cash-strapped.

The seller refused to credit the buyers the amount of money they requested. However, he was willing to credit some money. Or, he would carry a second mortgage for the buyers so that they didn’t have to put so much cash down.

Flexibility gives the parties to a negotiation a way to explore options for making a deal or for keeping one moving forward. In order for the buyers in this case to feel comfortable closing the sale, they needed a concession from the seller in order to ease their financial strain. By offering to carry a second mortgage against the property, the seller found a way to free up more cash for the buyer.

As it turned out, the buyers elected not to take the seller-financing offer and accepted a monetary credit at closing.

Credits at closing require approval by the buyers’ lender. Most lenders have limits on how much money a seller can credit a buyer at closing. It is often equal to 3 percent of the purchase price, but cannot exceed the actual amount of the buyers’ nonrecurring closing costs. These are costs paid for the buyers on a one-time-only basis at closing, such as title insurance or a transfer tax.

A seller carry-back would also need lender approval. The lender in first position would want to ensure that the terms of the second mortgage were reasonable and would not be likely to put the buyers in financial jeopardy.

THE CLOSING: Sellers should carefully consider whether it makes good financial sense to carry financing for a buyer who is making a relatively small cash down payment.