Real Estate Westlake, Elyria, Avon, Ridgeville, OH

1 1/2 Story Home For Sale at 757 Exchange St, Vermilion, OH - Lorain County

LindaAllison Gray — Sat, 12 Nov 2011 15:21:00 GMT

Harbour Town District of Vermilion

• 1,278 sq. ft., 2 or 3 bdrm, 1 full and 1 half bath - MLS® $60,000

Vermilion - Lorain County, Ohio - Excellent location at 757 Exchange St. in the heart of Vermilion's Harbour Town District. Just one block from downtown, on corner lot across from park,fire station,church. Take pride in restoring this home built in 1925. Then sit back and relax on the covered wrap-around porch as you take in the neighborhood sights. This is actually a 2 bedroom home, however the current owner used one of the downstairs room as the master bedroom. When you tour this home you'll notice the original plaster walls and beautiful hardwood floors under the original linoleum.

You can have fun in the fall gathering and crafting with the fruit of your own Ohio Buckeye Tree.
Enjoy life in the "small town on the great lake".

757 Exchange St, Vermilion, OH 44089 being sold As-Is, some rehab needed.

Looking for a quick sale... Bring Your Offer!

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When it comes to Real Estate … Linda Listens!

Search all Vermilion homes for sale.

3-Level Split For Sale in Settlers Reserve, Westlake,Ohio

LindaAllison Gray — Wed, 26 Oct 2011 20:02:00 GMT

Stylish Split

• 2,688 sq. ft., 3 bath, 4 bdrm 3-level split - MLS® $292,500

Settlers Reserve, Westlake - WOW! Stylish Split, with room to spare! Loads of up-dates! Ceramic floors in kitchen and modern up-dated baths! Granite counter tops, & appliances that stay! New jacuzzi tub in totally updated full bath off master! All new light fixtures throughout out, new roof, all new drapes and window treatments that will remain! Floor plan designed for a large family, possible teen suite or in-law suite on lower level, with entrance through the attached garage! 15 x 25 Family room, with fireplace! Formal dining room & formal living room! Eat-in kitchen with a slider to enclosed patio that over looks the back yard pool! Enjoy the above ground pool, that's partially below ground level, with a walk around. Beautiful landscaping and a privacy fence completes your own private back yard oasis! Over 2688 Sq.Ft.that allows for a comfortable & spacious home that's begging for family & friends to come & share the good times!

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Pumpkin Patches located in Lorain County.

LindaAllison Gray — Wed, 12 Oct 2011 19:24:00 GMT

PUMPKIN PATCH – Get Your Fresh-Off-the-Vine Pumpkin

Where can you get your fresh-off-the-vine pumpkin this year? Here are a few pumpkin patches located in Lorain County.

Fitch's Farm Market
4413 Center Road (State Route 83)
Avon, Lorain County OH
440-934-6125

Gede's Fruit Farm
48799 State Route 113
Amherst, Lorain County OH
440-986-5161

Hillcrest Orchards
50336 State Route 113
Amherst, Lorain County OH
440-965-8884

Miller Orchards
8690 Vermilion Road
Amherst, Lorain County OH
440-988-8405

Miller's Apple Hill
50549 State Route 113
Amherst, Lorain County OH
440-965-7077

Red Wagon Farm
16081 East River Road
Columbia Station, Lorain County OH
440-236-3007

Vita full Orchards by Cathy
43802 Butternut Ridge Road
Oberlin OH 44074
(440) 935-0575

. Did You Know - Pumpkins are rich in Vitamin A and potassium They are also high in fiber. Yes, they are, therefore, good for you.

And, Did You Know - Pumpkins were once recommended as a cure for freckles!

Why Westlake Short Sales Sell For A Higher Price Than A Westlake Foreclosure

LindaAllison Gray — Wed, 09 Mar 2011 15:02:00 GMT

Elyria OH – People often wonder why their lender will release their debt in a short sale. Most lenders don't like to release the debt. But, they agree to do it because they know that policy nets them more money. They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let's go thru a few examples.

See the home in the top picture?

You can see that it is good shape. Most short sales are being sold while the homeowner lives in the home. The homeowners are able to keep the house up. They keep the inside clean and neat. In addition, they mow the lawn and keep up on the yard. This makes a big difference in the sales price. Would you rather buy a home that is in great condition or one that needs work?

Now look at the home in the bottom picture. That is an abandoned home in foreclosure. No one is there to kThe inside of the home is probably dirty. Vagrants can break into the home. The home is also an easy target for vandalism.

The bottom line is that most short sales are in better shape than a foreclosed home. In fact, they are usually in much better shape. That is why they sell for more money, thereby cutting the lender's losses.

Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

Planning to make a move? I have the tools and expertise to help you make the best choice possible for your circumstanceswhether you are Buying or Selling a home. To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

Get FREE list of Foreclosed homes now for sale: Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Thanks for reading this, LINDA A GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

View your foreclosure options at www.HelpOhioHomes.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Linda A Gray specializes in loan modification assistance and short sales in North Olmsted, Avon, North Ridgeville, Elyria and Westlake Ohio. Westlake Loan Modification Help, Westlake Short Sales, Westlake Short Sale Realtor. Short Sale Realtor. Elyria OH Short Sales. Elyria Realtor. Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are LINDA A GRAY's personal views.

Most lenders willingly work with agents on short sales. Why? Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan.

We do offer a loan modification kit. However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale. The views expressed here are gray's personal views.

This information on Why Elyria Short Sales Sell For A Higher Price Than A Elyria Foreclosure is provided as a courtesy to our viewers to help them make informed decisions.

Westlake Short Sales: What is a HUD-1 and why does it matter on a short sale?

LindaAllison Gray — Tue, 01 Mar 2011 16:16:00 GMT

Westlake Short Sales: What is a HUD-1 and why does it matter on a short sale? Elyria OH –

Here is something that drives inexperienced short sale agents crazy. It is a HUD-1, also called a HUD. HUD is the Federal Agency, the Department of Housing & Urban Development, also called HUD.

A HUD-1 is a document regulated by HUD. It is the financial accounting for a real estate sale. Here is why it is important to a short sale.

Before a short sale lender will accept a short sale, they want to know what they will net from the sale. A HUD-1 breaks down all the projected closing costs so the lender can see their net.

Most agents are familiar with a HUD-1. They see them at the closing of every home they sell.

But, seeing a HUD-1 at a closing is not the same as the familiarity you learn on short sales.

See, if you mess up on that HUD-1, then it puts the short sale transaction in jeopardy. The short sale lender will look at a projected HUD-1 and agree to accept a certain number. If unexpected costs get added to the HUD-1, then that net goes down. (There are always unexpected costs on a short sale. I can tell you from personal experience.)

Now, the agent has to go back and re-negotiate with the short sale lender. That can drag out the process another 60-90 days. The buyer will usually get frustrated and cancel the contract. Then, the agent has to re-sell the house and start the process all over again.

This is what causes many agents to hate short sales. They didn’t take the HUD-1 seriously and had problems on a short sale. As a result, they think all short sales are impossible.

To truly be successful at short sales, the agent must understand HUD-1s inside and out. They need to make sure that every single projected expense is added to the HUD-1 at the beginning of the negotiations. Adding them after you have negotiated isn’t going to work.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

Planning to make a move? Buying or Selling: I have the tools and expertise to help you make the best choice possible for your circumstances. To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

Ask for FREE list of Foreclosed homes now for sale:

Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Thanks for reading this, LINDA A GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

Ask about your Foreclosure options.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Important Notice

linda gray, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

The views expressed here are gray's personal views and do not reflect the views of Russell Realty.

This information on Elyria Short Sales: What is a HUD-1 and why does it matter on a short sale? is provided as a courtesy to our viewers to help them make informed decisions.

Westlake Short Sales: What is a BPO ? Why does it matter on a Short Sale?

LindaAllison Gray — Mon, 28 Feb 2011 18:19:00 GMT

Westlake Short Sales: What is a BPO and why does it matter on a short sale? Elyria OH – Some agents hate short sales. Why?

Because they don't understand them.

So, don't believe them when they tell you that short sales are impossible.

I will explain what causes their problems in today's post.

There are two things you must understand if you are doing short sales. They are BPOs and HUD-1s.

A BPO is what the short sale lender uses to determine the value of the property.

BPO stands for "Broker's Price Opinion."

They are what another real estate agent (Broker) thinks a property is worth. Basically the agent gives their opinion of the value of the property. "I think it is worth 300k", they put on the report.

Lenders accept or reject short sale offers based on the BPO value. If the agent has given a value of 300k, then a short sale lender will not accept a sales price of 250k.

The problem is that, in my opinion, sometimes the values are inaccurate. I have seen agents drive 50 miles away to evaluate a property. They go to a place where they do not sell real estate. As a result they are not familiar with the local marketplace.

Because of this I always try to meet the agent doing the BPO at the property. I explain the market value to them and tell them what is happening with the property. I explain exactly why the property is selling for the sale price. I tell them what buyers have said about the property and why it isn't selling for a higher price.

This helps them to give an accurate value. The lender gets an accurate value and is able to make a better decision on the short sale.

Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny.

Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have.

Or, if you prefer, you can call me at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale:

Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Thanks for reading this, LINDA A GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

ASK about your foreclosure options.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Important Notice linda gray, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why? Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit. However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification. We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home.

Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale. The views expressed here are gray's personal views and do not reflect the views of Russell Realty. This information on Elyria Short Sales: What is a BPO and why does it matter on a short sale? is provided as a courtesy to our viewers to help them make informed decisions.

FREE List of Foreclosed Homes- Now Available for Sale in Lorain County

LindaAllison Gray — Thu, 24 Feb 2011 19:58:00 GMT

Request a FREE list. Over 240 Foreclosed and Pre-Foreclosure homes in Lorain County priced from $10,000 to $575,000. . .No Obligation.

Distressed Sellers of Lorain County Need to Sell

All Prices in Lorain Co

Foreclosed Homes, Bank Owned homes, Short Sales – Some Great Bargains!

See them all. Stay informed.

When it comes to Real Estate … Linda Listens!

Westlake Short Sales:Is this a reasonable offer from a buyer of a short sale property?

LindaAllison Gray — Mon, 21 Feb 2011 01:02:00 GMT

Westlake OH –

Some buyers think that since it is a buyer's market, then they can make any crazy demand of a seller. And they can't understand when the seller isn't excited by their lowball offer.

Here is an example of a recent story where this happened. A buyer makes an offer on a short sale.

1. The buyer puts no money in deposit for the home. In other words, they have about zero risk. (Meanwhile, the seller is still risking foreclosure.)

2. They are putting $150,000 down on the property, but won't bother putting any more than $1,000 in escrow and only after the short sale is approved.

3. They are only allowing 30 days for short sale approval. (News flash: Most short sales take an absolute minimum of 60 days to be approved.)

4. They are demanding the seller take the property off the market and not accept backup offers. I

s this a little one sided or what?

If you are a short sale seller, then they agent representing you should ask for a better offer. You need the buyer to have a little skin in the game. If not, then you dramatically reduce the odds of successfully short selling your property.

Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny.

Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

Planning to make a move?

Buying or Selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

Ask for a FREE list of Foreclosed homes now for sale:

Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank. Call me to request a copy.

Thanks for reading this, LINDA A GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

Ask about your foreclosure options.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Linda A Gray specializes in loan modification assistance and short sales in North Olmsted, Avon, North Ridgeville, Elyria and Westlake Ohio. Westlake Loan Modification Help, Westlake Short Sales, Westlake Short Sale Realtor. Short Sale Realtor. Elyria OH Short Sales. Elyria Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are LINDA A GRAY's personal views.

This information on Elyria Short Sales:Is this a reasonable offer from a buyer of a short sale property? is provided as a courtesy to our viewers to help them make informed decisions.

What You Should Look For In A Buyer of Your Westlake Short Sale Property

LindaAllison Gray — Sat, 19 Feb 2011 00:20:00 GMT

What You Should Look For In A Buyer Of Your Westlake Short Sale Property Elyria OH – Short Sales can be tough. Many buyers don't understand the process and think that since it is a buyer's market, then they set the rules. That's not the case.

You, the seller set the rules. After all, you still own the property. But, more importantly, you must set the rules for offers. If you don't then you dramatically reduce your odds of successfully short selling your property.

Here is what you should think about before you take your home off of the market.

1. You should only accept and work with one offer at a time. If you accept more than one offer at a time, then buyers get mad. The primary offer might get angry because you accepted a backup offer. In addition, multiple offers confuse everyone involved including the short sale lender.

2. You should make sure the buyer can get financed for a loan. That means the buyer should give you genuine proof of that, whether a pre-approval or pre-qualification.

3. We recommend that the buyer inspect the home before the sales contract is signed. If any unexpected problems come up (and they do), then you can adjust the offer price that is submitted to the short sale lender. This saves from having to negotiate the price again if a problem is found after the short sale is approved. Besides, the lender is more likely to accept a lower price if you send them a copy of the inspection.

4. The buyer agrees to wait the necessary 60-90 days for an answer on the short sale. That time will depend on the lender. Some lenders are fast and some are slow.

5. The buyer should put a reasonable deposit in escrow to keep them on board for the necessary time required for the short sale to be approved. These are what we have determined to be necessary for a successful short sale. If you don't have a serious buyer then you are wasting your time and your agent's time as well. Many buyers and their agents think that since a property is a short sale, then offers can be treated very casually. This only hurts the home sellers trying to avoid foreclosure when the buyers can't get a loan or back out after the inspection. Helping someone avoid foreclosure is serious business. That's why we treat it as such.

Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny.

Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841 Planning to make a move?

Buying or Selling: I have the tools and expertise to help you make the best choice possible for your circumstances. To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

ASK for FREE list of Foreclosed homes now for sale:

Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank. Call me to request a copy.

Thanks for reading this, LINDA A GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Linda A Gray specializes in loan modification assistance and short sales in North Olmsted, Avon, North Ridgeville, Elyria and Westlake Ohio. Westlake Loan Modification Help, Westlake Short Sales, Westlake Short Sale Realtor. Short Sale Realtor. Elyria OH Short Sales. Elyria Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are LINDA A GRAY's personal views. This information on What You Should Look For In A Buyer Of Your Elyria Short Sale Property is provided as a courtesy to our viewers to help them make informed decisions.

Westlake Short Sales: What is a BPO?

LindaAllison Gray — Thu, 17 Feb 2011 18:28:00 GMT

Westlake Short Sales: What is a BPO?

Elyria OH –

If you have been reading about short sales, then you have probably heard the term "BPO" and wondered what it meant. BPO stands for Broker's Price Opinion.

A Broker's Price Opinion is when a licensed real estate agent gives their opinion of the value of a property. That value is what the lenders use to process the short sale.

Most short sale approvals or denials are based off of that opinion of value. The agent goes thru all the recent sales of properties similar to the property they are valuating. They want to find the 3 closest comparable sales.

The more recent a sale is then the closer of a comparable it is considered to be. The same goes for properties that are close geographically (in the same neighborhood is preferred) and close in size and number of bedrooms or baths. Most agents are not appraisers. Because an appraiser's license is required to appraiser properties they give their opinion of the value.

Now, I'm sure you are wondering, " Why do the lenders use these rather than an appraisal?"

Here is why. Many people think they are more accurate of a valuation than an appraisal. Agents are more in tune with exactly what a property can sell for. After all, whatever opinion of value they put for a property is usually supposed to be backed up later by a sale for that price. That causes agents to be more accurate with their valuations. That accuracy is why the lenders use their valuations rather than an appraisal.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny.

Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

Planning to make a move? Buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale:

Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Thanks for reading this, LINDA A GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Linda A Gray specializes in loan modification assistance and short sales in North Olmsted, Avon, North Ridgeville, Elyria and Westlake Ohio. Westlake Loan Modification Help, Westlake Short Sales, Westlake Short Sale Realtor. Short Sale Realtor. Elyria OH Short Sales. Elyria Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are LINDA A GRAY's personal views.

This information on Elyria Short Sales: What is a BPO? is provided as a courtesy to our viewers to help them make informed decisions.

First Impressions Make or Break a Home Sale in Westlake

LindaAllison Gray — Wed, 16 Feb 2011 20:03:00 GMT

First Impressions Make or Break a Home Sale in Westlake

We are getting close to the “HOT” time to sell your home, and as a real estate agent I wanted to bring up a couple “First” impressions that really do make a BIG difference in if you home sellers or not.

#1 Clean the home up

Yes, that might sound simple, though a clean home makes a really big difference to the buyers previewing it.

#2 Paint your front door!

Why, because the buyer and I spent 2-3 minutes at the front door while I get the key out and open it.

#3 Traffic Flow

Taking a look at how the rooms are laid out MAKES a huge difference. You as the homeowner might have grown used to the layout and not even realized you have a floor plan issue, or the simply the room looks cluttered.

#4 Green, Green, and more Green Plants

Adding fresh plants or fake ones just add some much to your room. They are like the new neutral color in today marketplace. They also give a fresh feel to your home.

#5 SAVE your Money, no big projects

I run into this all the time from homeowners, they feel that a HUGE project will make or break the sale. Which is NEVER the case, you never will be even close to your money back on those projects. So never do a huge project unless you plan on staying and while and enjoying the improvement

There are many more “First” Impressions that I could go over, though many of them are specific to different homes. So if you want a personally “First” impression inspection at no cost or obligation feel free to give me a call.

Your First Impression Agent: Linda Allison Gray

By the way, buyers are coming into the marketplace right now in higher numbers than in YEARS.... No homeowner thinking of selling should miss 2011, it is going to be the best for years to come (because the lenders are going to get tougher and tougher). So if you know somebody who is consider selling, e-mail me or give a call so you can help them with their “First” impression.

Request your FREE list (with photos) of all Westlake homes for sale in the MLS. Go to www.MyWestlakeHome.com

Westlake Short Sales: Why Should I Pay Double For My Home?

LindaAllison Gray — Wed, 09 Feb 2011 14:15:00 GMT

Elyria OH –

The Stop Foreclosure Institute recently received a question from Luis.

Here is Luis's Question. "I am working on a loan modification on my home. I just don’t want to be upside down and want a fair interest rate. Why should I pay on a mortgage that is twice as much as my home is worth, plus the interest on that mortgage? It just doesn’t make sense. How can I get a loan mod with a fair interest rate where I am repaying what my home is worth today? Thank for your help, Luis.”

Here was our answer. You are asking for something that most lenders don’t like to do. Lenders don’t like principal reductions.

Here is why. Principal reductions usually have to be written down right away on their financial books. If you owe them $300,000 and they reduce your loan principal to $150,000, then they immediately have to reduce the company’s earnings by $150,000 for the year. If they do that on enough loans, then it hurts the CEO’s ability to get a bonus. He may even risk losing his job. I don’t offer much sympathy to CEOs, but that’s how it works.

Here is what lenders like to do instead. Example: They will reduce your interest rate to 2% for 5 years. After that, the interest rate will go back to the original level. That way the write off will be much smaller than $150,000. It might be a $30,000 write off. That makes a much smaller difference on the CEO’s bonus for the year.

It’s also one of the reasons that most loan mod programs don’t work. The banks aren’t willing to be realistic.

It’s also why I think a short sale is the best principal reduction plan. You get to erase the bad debt. Rent a home for 2-3 years and then buy a new one at today’s market level. That way you guarantee your principal reduction and don’t waste time arguing for a principal reduction with someone who isn’t allowed to give it to you.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

Planning to make a move? Buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. To re ach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale:

Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Thanks for reading this, LINDA A GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

The views expressed here are LINDA GRAY's personal views. This information on Elyria Short Sales: Why Should I Pay Double For My Home? is provided as a courtesy to our viewers to help them make informed decisions.

How Much Do You Charge For A Short Sale in Westlake?

LindaAllison Gray — Mon, 07 Feb 2011 20:49:00 GMT

How Much Do You Charge For A Short Sale in Northern Ohio? Elyria OH –

We recently received a question from Tawny.

Here is Tawny's Question. "I have not been late on any payments but my income will be changing dramatically towards the end of the summer. What is your exact service and what are the fees involved? I do not have any cash in savings and pretty much live paycheck to paycheck. Tawny."

Here is the answer to Tawny's Question: A Short Sale doesn't cost the homeowner any money. All of the costs are paid for by the homeowner's lender. Now, I'm sure you are asking, "The bank is losing money on the short sale. They wouldn't want to have to pay to sell the property." Many people also think this. After all, it makes sense logically. But, it's actually not the case. Banks have been lending money for centuries. They have learned from past experience that a short sale is a good way to cut their losses.

In fact, a recent study by the Boston Consulting Group actually showed that a short sale reduced a lender's losses by 20%, compared to a foreclosure. After a lender forecloses on a property they put it up for sale. They have to hire and pay a real estate agent and all the other related costs. Why not pay those costs on a short sale and cut their losses by 20%? It's a good business decision. And that's why a short sale doesn't cost the homeowner anything. Your lender covers all the cost including the real estate agent, title fees, and other closing costs.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

Planning to make a move? Whether you are buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. To re ach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale: Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Thanks for reading this, LINDA A GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Linda A Gray specializes in loan modification assistance and short sales in North Olmsted, Avon, North Ridgeville, Elyria and Westlake Ohio. Westlake Loan Modification Help, Westlake Short Sales, Westlake Short Sale Realtor. Short Sale Realtor. Elyria OH Short Sales. Elyria Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are LINDA GRAY's personal views. This information on How Much Do You Charge For A Short Sale in Elyria? is provided as a courtesy to our viewers to help them make informed decisions.

Does My Elyria Short Sale Have To Be Approved Before I Put It Up For Sale?

LindaAllison Gray — Sun, 06 Feb 2011 17:17:00 GMT

Elyria OH –

We often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?” one seller asked us. “When I called my lender they wouldn’t talk to me about my short sale. I am concerned that they might do that when I finally sell the property and I’ll never get the short sale approved.”

Here was our answer.

Most lenders will not talk to you about a short sale until you have several things in place. They want a solid offer from a pre-qualified home buyer along with all the necessary financial documents.

Why do they do this? Because they only want to process short sales that will sell and close. Now, I think it’s a stupid way to do things. Instead of refusing to negotiate short sales until there is an offer on the table, they should instead pre-approve short sales. It would make the process so much easier. A home could be placed on the market at a set price. Buyers would be more interested in the property because they know they can get an answer in 2-3 days versus 2-3 months.

We have brought this up with Matt Vernon, the Vice President of Bank of America’s Short Sale Department. He knows there is stuff to improve. But, it’s hard to change the course of a huge company with so many different parties involved.

Despite all this, experienced short sale agents are getting short sales approved every day. The Short Sale Process is getting better and easier to navigate. More and more lenders are moving towards “Approved” Short Sales.

You just need to find a good short sale realtor that can navigate their way thru the crazy short sale process.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com.

I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

Planning to make a move? Whether you are buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

ASK for FREE list of Foreclosed homes now for sale:

Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Thanks for reading this, LINDA A GRAY. LINDA A Gray is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841.

LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens! Linda A Gray specializes in loan modification assistance and short sales in North Olmsted, Avon, North Ridgeville, Elyria and Westlake Ohio. Westlake Loan Modification Help, Westlake Short Sales, Westlake Short Sale Realtor. Short Sale Realtor. Elyria OH Short Sales. Elyria Realtor.

How To Convince A Lender To Waive A Promissory Note for Westlake Short Sale

LindaAllison Gray — Sat, 05 Feb 2011 19:38:00 GMT

Convince Your Lender To Waive A Promissory Note for Your Westlake Short Sale

Elyria OH –

Some lenders are very stubborn about collecting what they feel they are “rightfully owed.”

These lenders are usually a lender that you originally got the loan from. A good example is a credit union loan, or a small community bank. Another common type is loans that were granted with Private Mortgage Insurance. In our experience, these companies are very demanding.

They negotiate hard and say they will not approve a short sale without a promissory. However, that is not always the case.

You can often convince them to waive the deficiency if you do the following.

1. Prove to them that you don’t have any assets or any extra monthly income.

2. Prove that your home is worth what the buyer is offering on the short sale. This is your agent’s job to do. Your agent will put together an agent’s version of an appraisal. This will include comparable sales and what your property is worth, based on those comparable sales. Your agent will show them that they are better off accepting the short sale.

If you have presented your case well and the lender buys it, then they will usually waive the deficiency or promissory note and accept what they can get. After all, something is better than nothing. Make sense?

Another option is to hire a good lawyer to negotiate for you. Look for a lawyer with experience in bankruptcy. They can use the threat of bankruptcy to convince the lender to approve the short sale with the deficiency waived.

Bankruptcy is very bad for creditors. If you declare bankruptcy, then it could take 12-18 months before the lender can sell the house. Their right to collect from you would be wiped out in bankruptcy.

A short sale where they get their money today is a much better option. That’s why they’ll usually take that option when threatened with bankruptcy.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com.

I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have.

Or, if you prefer, you can call me at 440-477-1841

Planning to make a move? Whether you are buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances.

To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale:

Thanks for reading this, LINDA GRAY.

LINDA is a Real Estate agent at Russell Realty.

Westlake short sale Realtor: Elyria Short Sales Realtor: Phone:North Ridgeville Short Sale Realtor

440-477-1841.

LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Linda Gray specializes in loan modification assistance and short sales in North Olmsted, Avon, North Ridgeville, Elyria and Westlake Ohio. Westlake Loan Modification Help, Westlake Short Sales, Westlake Short Sale Realtor. Short Sale Realtor. Elyria OH Short Sales. Elyria Realtor.

The views expressed here are LINDA GRAY's personal views. This information on Elyria Short Sales: How To Convince A Lender To Waive A Promissory Note is provided as a courtesy to our viewers to help them make informed decisions.

What to Expect During and After a Westlake OH Short Sale

LindaAllison Gray — Fri, 04 Feb 2011 23:51:00 GMT

What you can expect during and after the Westlake OH Short Sale Process...

Elyria OH – Here are a few things you should not be surprised to see crop up during the short sale process.

Unscruplous Debt Collection Tactics. If you are facing financial hardship, then paying credit cards and other unsecured debts is your lowest priority.

An unsecured debt is a debt where they can’t take away your car or house. A secured debt has something as collateral, such as your car, house, or anything else of value. The most commons unsecured debt is a credit card. When you stop paying them, they will call you nonstop. The reason is because they don’t have any other way to collect from you.

They can’t come get your car or take your house. So, they make up for that by blowing up your phone with harassing calls. In addition, they use deceptive tricks to get you to pay them.

For example, there are Federal Laws that regulate what they can do or say. They aren’t allowed to threaten to sue you, but then not follow thru and actually file suit.

To get around this rule, they will use language that sounds legal, but isn’t. In one situation, a debt collector in Buffalo, New York named their firm Hoffman, Weinberg & O’Brien to make it sound like they were a law firm. They would then leave messages on people’s answering machines. They would say they were with the office of Hoffman, Weinberg & O’Brien and then say they may resort to future legal action. In addition, they would reference case number 8306042. If you didn’t know any better, you would think the case number was for an actual lawsuit against you. That is scary. Don’t you agree?

Most credit card accounts never sue (despite the constant threats.) Even when they do sue and get a judgment, they rarely ever attempt to garnish wages. A lot of judgments expire without getting paid. But, a lot of them get paid off when a person’s income increases, or that person sells a valuable asset such as a house.

It might seem like the process takes a long time. Some short sales only take a few months. Before you know it you are moving out of your house and onto the next place. However, some short sales will take a lot longer. We have some files that we have been working on for a year or even longer. It’s not the end of the world. Just stay put and keep on saving the money you would be using for rent. In most cases the short sale will eventually be approved and you can move on with your life.

Your lender may attempt to collect money from you when they aren’t legally entitled to do so. We have heard several stories of some lenders asking for a promissory note when the state the property was in did not allow the lender to pursue the homeowner after a short sale. The stories in question were for short sales of properties in California and Washington. Don’t sign a promissory note a lender sends you after a short sale when you are in a non-recourse state. Talk to a lawyer to see if you are obligated to repay the debt. You could probably get out of repaying it if you tried.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny.

Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

Planning to make a move?
Whether you are buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. To re ach me just fill out this form or give me, Linda A Gray, a quick call at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale:

Thinking about a loan modification? Our Elyria loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Thanks for reading this, LINDA A GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841.
LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

This information on What you can expect during and after the Westlake OH and Elyria Short Sale Process is provided as a courtesy to our viewers to help them make informed decisions.

Tip to Get Your Short Sale Approved

LindaAllison Gray — Wed, 02 Feb 2011 17:06:00 GMT

Elyria OH – If you are selling your Westlake home, then ask the buyer to write a letter about why they want to purchase the home. If you are a buyer, then write that letter. The listing agent will submit that letter along with the short sale paperwork. With a little luck that letter will help “grease the wheels” and cause the short sale to be approved faster.

Short Sale negotiators are human beings. They have emotions that can be touched by a good story. These letters might sound like a joke, but they can make a huge difference.

I’ve even seen home owners lose money on their sale because the liked a certain buyer over another one. In that case, the seller sold their home for several thousand dollars less to a buyer that they liked. The other buyer had been rude and the seller didn’t like them.

If that made a difference when the seller was losing their own money, then think about the difference it will make to a short sale negotiator who isn’t losing their own money. Put a good story in your letter.

Here are a few examples.

You might say something like this: “We are a first time home buyer looking for our first home. We just want to move out of our cramped apartment and are looking forward to our first home where we can plant a garden.”

Or, maybe it would be like this: “We have looked for a while and finally found this home on Elm Street that we love. We are selling our current home so we can buy a house with a yard. Our two boys, Tim and Julian, have been begging us for a swing set. We never had room in our old condo. If you approve our short sale offer, then we will finally be able to give them the large, fenced backyard they’ve always wanted with a swing set. We’ve already picked out the swing set plan and Tim and Julian are so excited about it. So, don’t approve the short sale offer for us, approve it for them.”

See how I’m pulling the negotiator’s heartstrings. Unless your short sale negotiator is absolutely heartless, it will make a difference for you.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841 Planning to make a move?

Whether you are buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. To re ach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale:

Thanks for reading this, LINDA GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens! Linda Gray specializes in loan modification assistance and short sales in North Olmsted, Avon, North Ridgeville, Elyria and Westlake Ohio. Westlake Loan Modification Help, Westlake Short Sales, Westlake Short Sale Realtor. Short Sale Realtor. Elyria OH Short Sales. Elyria Realtor. North Ridgeville Short Sale,

The views expressed here are LINDA GRAY's personal views. This information on Another tip to improve the odds of your short sale offer being approved is provided as a courtesy to our viewers to help them make informed decisions.

What if Buyer walks during a Westlake Short Sale?

LindaAllison Gray — Tue, 01 Feb 2011 13:40:00 GMT

Elyria OH –

Short Sales can be frustrating. It can take a long time for the lender to process everything and finally give the buyer an answer on their offer. Oftentimes, by the time the lender makes a decision, the buyer has gotten impatient and moved on to another property.

Most lender short sale departments are overworked. That is why it takes 60-90 days for them to get back with an answer on the short sale.

Some buyers get impatient and move on before they get an answer.

On the other hand, we have seen some buyers wait for 4-5 months to get an answer on their offer. The lender approved their offer and they bought the house. That’s why we don’t sweat it if a buyer gets impatient.

Another buyer will come along and buy the house and wait the necessary time for their offer to be approved. Besides, we usually know what price the lender will accept and the next buyer’s offer can be approved much faster.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

Planning to make a move?

Whether you are buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances.

To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale:

Thanks for reading this, LINDA GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

The views expressed here are LINDA GRAY's personal views. This information on Westlake Short Sales: Don’t sweat it if the first buyer gets impatient and walks off is provided as a courtesy to our viewers to help them make informed decisions.

Westlake Short Sales: Desperate Lenders Accept Any Offer?

LindaAllison Gray — Mon, 31 Jan 2011 19:27:00 GMT

Desperate Lenders Will Accept Any Offer?

Elyria OH –

Have you heard the following myths about short sales?

Myth #1: You can buy short sales for dirt cheap and then turn around and resell them for a profit.

Myth #2: Foreclosures, Short Sales, and Bank Owned Homes can be bought for 30 to 50 cents on the dollar with no money down.

Myth #3: Lenders will accept any short sale offer even if it is for only 50% of what the home is worth. After all, they don’t want a foreclosure on their books.

These myths are just not true. Lenders are willing to foreclosure on properties. They have entire departments handle the sale of properties that they have foreclosed on. Another foreclosure is nothing to fear.

At the same time, they do prefer short sales. Short Sales are known to reduce a lender’s loss compared to a short sale.

They have high paid actuaries who have run the numbers and proved that to be the case. That means they take a pragmatic approach on short sales. They want to make sure that he short sale offer isn’t lower than what the home would sell if they foreclosed on it.

That is why they order an appraisal before accepting the offer. They won’t agree to a sale if the offer is for substantially less than the appraised value. If the offer is 5% lower than the appraisal, then they might accept it. If it is substantially less, then they will ask the buyer to raise their offer to the appraised value.

Another thing lenders check before approving a short sale is that they aren’t approving a short sale for someone that is able to afford their home. They don’t want to lose money on a short sale when they can make money when the person repays the loan.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

Planning to make a move?

ASK for a FREE list of Foreclosed homes now for sale:

Thanks for reading this, LINDA GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841.

LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

This information on Elyria Short Sales: Are Lenders So Desperate They Will Accept Any Offer? is provided as a courtesy to our viewers to help them make informed decisions.

Who's in charge during a Westlake Short Sale?

LindaAllison Gray — Sun, 30 Jan 2011 15:08:00 GMT

Elyria OH – Many home buyers think that the short sale lender is in charge during a short sale. Nothing could be further from the truth.

The short sale lender can only veto short sale offers. They can’t put the property up for sale or decide who to sell it to. Only the home owner can do that. Why is that?

Until the lender forecloses on the home the home owner is in the driver’s seat. They “own” the property until the lender forecloses.

We have had many buyers get angry that a home owner would not accept their lowball offer. “You have to submit my offer to the lender. If you don’t then that would be fraud”, they tell the home owner.

You, the home owner are in charge. That means that you can make the following decisions.

You are allowed to pick the buyer’s offer that you think the lender will be most likely to accept.

You are allowed to turn down offers that you don’t like for whatever reason. (Maybe the buyers are too picky about the home and want you to make repairs.)

You are allowed to turn down offers if the buyer is not pre-approved for a loan. In addition, you can ask the buyer to inspect the property before they write a contract.

You are allowed to ask for an earnest money deposit to make sure the buyer is serious about the house.

It is your right to do these things for as long as you own the property. Don’t let anyone tell you otherwise.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale:

Thanks for reading this, LINDA GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841.

LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

This information on Elyria Short Sales: Who is in charge during a short sale? is provided as a courtesy to our viewers to help them make informed decisions.

7 Ways to Benefit from a Westlake Short Sale

LindaAllison Gray — Fri, 28 Jan 2011 22:29:00 GMT

Elyria OH – A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home.

We gave them the normal answer: “It’s much better for your credit.” That was the first thing that popped into our head.

But, I knew there are more benefits to a home owner than simply better credit. So I put together the entire list and here they are.

1. The upside down debt is erased in most cases. If you are selling because of a financial hardship, then the upside down debt will be automatically erased in most cases. Is your loan is owned or insured by the following agencies: Fannie Mae, Freddie Mac, FHA, and or VA? If you are short selling because of a financial hardship, their policies state that your debt will be erased.

2. You are eligible to buy another home much sooner compared to a foreclosure. The most common loan program, Fannie Mae, stipulates that you can buy another home under their program in 2 years. FHA, a popular low down payment loan program stipulates that you can qualify for an FHA loan within 3 years.

3. No Cost To You. That is right. A short sale costs you nothing. All of the expenses are paid for by your lender. That includes the title insurance, any county taxes or fees on the sale, attorney fees, and the Real Estate Agent. If the lender foreclosed on the house and then tried to sell it, they would have to pay all the costs. So why not pay the costs with a short sale?

4. Your credit suffers less damage. Most people think that a short sale will be the kiss of death to their credit. That is the one big advantage of a short sale over a foreclosure. Upon completion of the short sale, your credit score will drop between 50 and 100 points. However it will rebound fairly quickly. The other benefit is that you will have less debt. (A lot of debt hurts your credit score.) You will have a lower debt to income ratio, which will boost your credit. In a couple of years your credit will be back to normal and you can buy another home. In addition, anything and everything bad on your credit can be fixed thru the dispute process.

5. You can often rent a comparable house for less than your former mortgage payment. In one example, a homeowner in foreclosure found a larger home. It even had a fenced backyard for their kid and a garage. Their prior mortgage payment was $1,500. They rented the nicer, bigger house for $850 a month.

6. You avoid the humiliation of a foreclosure.

7. You don’t have to pay rent during the short sale process. A short sale can take up to 6 or 9 months. Not all of them do. But, some do. If you aren’t concerned about your credit, then you can stop making your mortgage payments during the short sale. You can use the savings for the deposit on a rental.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny.

Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have.

Or, if you prefer, you can call me at 440-477-1841 Planning to make a move?

ASK for a FREE list of Foreclosed homes now for sale:

Thanks for reading this, LINDA GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are LINDA GRAY's personal views. This information on Seven Ways You Benefit From A Elyria Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Why Should I Short Sale my House? It Cost You Nothing!

LindaAllison Gray — Wed, 19 Jan 2011 17:41:00 GMT

Westlake OH – This is a continuation of a former article about short sales. We often get asked if a short sale is even worth the effort. “Why don’t I just let the bank have the property”, sellers tell us. “I don’t ever think I’ll be able to fix my credit to be able to buy another house.”

Short sales are worth the extra effort. They enable you to buy another home much faster than you would have to wait if you experience a foreclosure. And they cost you nothing. All the costs are covered by your lender.

Now, I’m sure you’re thinking, “I might have to pay my agent to sell the house. That sounds risky.” That is a legitimate concern.

Here is why the lenders are willing to pay your agent. If they foreclose on the home, they will have to hire an agent to sell it. So why not just pay the short sale agent. Extensive studies have been done on the advantages of a short sale versus a foreclosure. The study results showed that a lender will make more on a short sale than a foreclosure. Oftentimes the difference is huge.

I have seen some lenders lose hundreds of thousands of dollars. They turned down a short sale thinking the home would sell for more as a foreclosure. The home ended up selling for much less. That is why lenders like short sales and are willing to pay all of the costs.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com.

I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

Planning to make a move? Whether you are buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. T

o reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

ASK for a FREE list of Foreclosed homes now for sale:

Thanks for reading this, LINDA GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are LINDA GRAY's personal views. This information on Elyria Short Sales: Why Should I Short Sale? It Costs You Nothing is provided as a courtesy to our viewers to help them make informed decisions.

Northern Ohio Housing Trends January 2011

LindaAllison Gray — Wed, 19 Jan 2011 04:32:00 GMT

Welcome to the most current Housing Trends eNewsletter.

This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.
Please click on this link to view the Housing Trends January 2011 Newsletter http://lindaagray.housingtrendsenewsletter.com/

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources. Housing Trends eNewsletter is filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, consumer videos, blogs, real estate glossary, mortgage rates and calculators, consumer articles, and REALTOR.com local community reports.

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report. Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you.

Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.

Sincerely yours,

Linda Gray, Realtor
Russell Real Estate Services
440-477-1841
LindaListens@oh.rr.com

Westlake Short Sales: Why Should I Short Sale?

LindaAllison Gray — Tue, 18 Jan 2011 17:02:00 GMT

Westlake Short Sales: Why Should I Short Sale?

Westlake OH – We often get asked if a short sale is even worth the effort. “Why don’t I just let the bank have the property”, sellers tell us. “I don’t ever think I’ll be able to fix my credit to be able to buy another house.”

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

When you are having a tough time financially, it may seem like you will never get back on your feet.

But, most people do get back on their feet. They find another job and start making money again. Their credit will usually be back to normal in 2-3 years.

Why not buy a new home at that time? If you short sale, then you will be eligible to do that.

Fannie Mae will consider you for a new loan 2 years after a short sale. You would have to meet all of their credit guidelines and other lending criteria. Most derogatory credit items such as late payments or collections won’t have as much of an impact when they are 2 years old. In addition, there are many ways to get derogatory items removed from your credit.

The other great option is an FHA loan. FHA allows you to buy a home with only 3.5% down. Current FHA guidelines will loan to you 3 years after a short sale. Contrast that with the 5-7 year wait required if the home is foreclosed on by the lender.

That is the number one benefit of a short sale. You can get back on your feet and buy another home a lot faster than if the lender forecloses on your home.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at LindaListens@oh.rr.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 440-477-1841

Planning to make a move? Whether you are buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841 Get FREE list of Foreclosed homes now for sale:

Thanks for reading this, LINDA GRAY.

LINDA is a Real Estate agent at Russell Realty. Westlake short sale Realtor: Elyria Short Sales Realtor: Phone: 440-477-1841. LindaListens@oh.rr.com.

View your foreclosure options at www.HelpOhioHomes.com.

See ALL Homes for Sale at www.MyNewOhioHome.com.

When it comes to Real Estate … Linda Listens!

The views expressed here are LINDA GRAY's personal views. This information on Elyria Short Sales: Why Should I Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Mortgage Trends for 2011

LindaAllison Gray — Thu, 13 Jan 2011 20:28:00 GMT

Daily Real Estate News January 12, 20112011

Mortgage Trends: Jumbo Loans, Cash Buys
The number of mortgage applications for home purchases is expected to become a bigger part of the mortgage market in 2011 as home prices stabilize, predicts the Mortgage Bankers Association. Refinancing has mostly dominated in recent months as home owners looked to lock-in low interest rates, but experts predict refinancing to slow as new mortgage shoppers dominate.

Real estate analysts predict the other following trends in the mortgage market for 2011:

Rates on the rise. The Mortgage Bankers Association predicts mortgage rates to rise slightly in 2011 and hover around 5 percent. They expect rates to increase to about 6 percent in 2012.

Jumbo loans become more attractive. Jumbo loans (loans over $417,000 in most housing markets and above $729,750 in high-cost housing markets) are expected to pick up pace in the next few months. Jumbo loans often have higher mortgage rates than conforming loans. However, with mortgage rates on jumbo loans dropping, experts predict a hike in refinancing and purchase applications for high-end housing.

All-cash purchases. All-cash purchases represented about a quarter of all existing home purchases in the last four months of 2010, according to Lawrence Yun, chief economist of the National Association of REALTORS®. He expects all-cash purchases to continue to represent a big part of the real estate landscape in 2011.

Slow and complex mortgage loan process. The time between application and closing can take as much as 60 days and that’s not expected to get any faster, experts say. Lenders often recommend borrowers lock in a loan 60, 75, or 90 days to help ensure the loan process will be completed within that lock-in period. The industry's new levels of documentation and verification that is now required is causing lengthy delays in the loan process, experts say.

Source: “7 Mortgage Trends to Expect in 2011,” MSNBC (Jan. 10, 2011)

Planning to make a move? Whether you are buying or selling a home, I have the tools and expertise to help you make the best choice possible for your circumstances. To reach me just fill out this form or give me, Linda Gray, a quick call at 440-477-1841

LINDA is a Real Estate agent at Russell Realty.

See ALL Homes for Sale at http://www.mynewohiohome.com/.

When it comes to Real Estate … Linda Listens!