Reo's, Short Sales and Traditional Sales

A short video with a quick explanation of the differences between standard sales, short sales and REO’s.

We utilize a 'Ninja Tactic' to help our Short Sale clients

Click the photo below and you'll be 1 step closer to finding out about a little-known Govt. program that we use that gets a short sale in Palm Beach County done in weeks...costs our clients nothing...GIVES our clients money at closing...and relieves our clients of any deficiency!!

Click the photo below and we'll see if you qualify:

Price reduction on a short sale in Wedgewood Village

A Monaco model with a pool that is being marketed as a short sale has just reduced their asking price to $271,000 (from $299k).

The home has been on the market since September, has been under contract once in November but is now on the market again at a lower asking price.

The owners purchased the home in 2003 for $250,000.

The Greens, under contract

A short sale Montreal in The Greens that has been on-and-off the market since July of 2006 has just gone under contract. Back in 2006, it was first placed on the market at an asking price of $348,900...most recently, prior to going under contract the home was priced at $176,000 as a short sale.

This seller purchased the home in May of 2006 at $310,000.

Cairo under contract...short sale

A Cairo in Barton Creek that is being marketed as a short sale is reported to be under contract again. The home had been on the market since October at an asking price of $250,000.

The current owner purchased the home in June of 2001 for $170,000.

The Greens, under contract

A Santa Cruz short sale in The Greens that was placed on the market on November 20th at $175,000 is under contract.

The seller purchased this home in October of '03 for $218,000.

Cairo Short Sale

A Cairo short sale in Barton Creek, priced at $250k, that went under contract about 5 weeks ago is now back on the market. The seller purchased the home in June of 2001 for $170k. It looks like there must have been some refinancing and pulling out of equity there...

Short Sale...lender response

A short sale Fairfax model in Bay Meadow has come back on the market with a "bank approved" price of $205,000. The home was under contract at one point but the buyer did not consumate the deal.

The seller on this home purchased it in September of 2005...almost the exact high point...for $397,900...almost $220/sq ft , and it appears that they financed 100% of the purchase via what is known as an 80/20 loan...this is where the buyer gets an 80% 1st mortgage, usually to avoid the payment of PMI, then concurrently gets a 20% home equity line of credit to cover the rest.

Wow...Paris short sale has sold

A beautiful Paris model on a great lake lot with a nice pool area that was being marketed as a short sale has just sold. The reported selling price was $318k...a nice deal for the buyers.

The sellers purchased the home in December of '06 for $499,900.

Wedgewood Village...under contract...short sale

A Monaco model (3/2/2, pool, 2000 sq ft), just went under contract. The property was listed as a short sale 53 days ago at $325,000 and was reduced to $299,000 before going under contract. The sellers purchased the home in September of 2003 for $250,000

Paris short sale

A Paris in Bermuda Dunes...short sale...has just come on the market at $299,000. The current owner purchased the home in November of 2005 for $559,000.

Sold, Casablanca short sale

A Casablanca short sale, with a pool on the lake, in Las Colinas, sold after 293 days on the market. The reported selling price was $240,000.

Now here's a good barometer of what has happened in the market...the sellers purchased this home 40 months ago for $470,000. A decline of 49%...in a little over 3 years...or 1.2% per month. In actuality, the decline was not straight-line...during 2006 the values did not decline much, but begining in early 2007 the speed of the decline increased.

Sold, short sale...

A Nairobi short sale on the golf course, in Muirfield Village, was just sold. The final selling price was reported as $225,000.

The sellers purchased this home in April 2006 for $400k and financed it with an 80/10/10 loan.

Price reduction on a short sale in Wedgewood Village

A Monaco model (3/2/2, 2000+/- sq ft),  with a pool in Wedgewood Village just reduced their asking price from $325,000 to $299,000. The home has been on the market for 26 days.

The current owner purchased the home in September '03 for $250,000.

Short Sale, Barton Creek

A new short sale has just been placed on the market in Barton Creek. It is a Cairo model, with a pool. The home is priced at $250,000. The home was purchased by the current owners in June of '01 for $170,000.

Sold...finally!

A London in The Greens that has been on the market for 463 days, has finally sold at $135,000. The buyer purchased with an FHA mortgage so there is a good chance that a portion of the $135,000 purchase price went towards the buyers closing costs, as is common with FHA purchases.

The home was originally placed on the market in April of '08 at $235,000.

The sellers purchased the home in December of 2006 for $288,400.

Short Sale...The Greens

A Montreal on Green Island just came back on the market. The home has been on-and-off the market since July of '06. It was originally listed by the current owner 7/29/06 at $348,900.

The current owner purchased the home in May of '06 at $310,000.

Sydney sale...La Gorce

A Sydney in La Gorce that has been on the market as a short sale since February of this year finally sold after being under contract 2 previous times. The reported sales price was $255,000.

Back in February the home was on the market for $356,900 and the asking price was reduced multiple times until reaching the $255,000 mark where it sold.

The sellers purchased the home in September of 2002 for 250,000.

Bay Meadow Village...short sale price reduction

A Hatteras model (Hovnanian built) with a pool in Bay Meadow that is being marketed as a short sale has just reduced their price to $230,000. The home was originally placed on the market at the end of July at $275,000 and this is the 4th price reduction. The owners purchased this home in July of 2006 for $397,500

Paris model 2 story, 5/3/2...wood flooring...big covered and screened patio with built-in bar, grill and wine cooler...new kitchen with granite and stainless appliances...Sold for $292,000 with $12,000 being credited back to the buyer for closing costs (net $280,000)...this property was a short sale and was on the market for 312 days. It was placed on the market initially at $359,000.

The seller originally purchased this home in February of 2004 for $349,000.