I hope you all had a wonderful Christmas with your families this year. As New Year’s Eve rapidly approaches, I know some of you are scrambling for fun ways to celebrate with friends. Here’s a quick list of some exciting ways to say goodbye to 2011 and hello to 2012.
Have a fun, happy, and safe New Year’s!
Today, the Silva Group is celebrating its one year anniversary with a personal letter from Kenny…
It has been an interesting 12 months since I put down my guitar and decided to start a business out in the “real world.” I’ve experienced highs and lows, trials and victories. I’ve seen the very best parts of people and the very worst. I’ve worked long hours and have sacrificed much; the joys of owning a small business.
One of the things I love about Nashville is that there is never a shortage of fun things to do. Halloween weekend is no exception. Here’s a quick little run-down of what festive shenanigans you can go out and get yourself into this weekend in Music City.
The following information was taken from Realtor Magazine (original article):
Forbes magazine turned to real estate research firm Local Market Monitor to figure out which markets have the greatest likelihood of price appreciation because they offer a mix of jobs weighted toward growth industries.
These are the top markets, the research company concludes:
1. Raleigh-Cary, N.C.
2. McAllen-Edinburg-Mission, Texas
3. Austin-Round Rock, Texas
4. Nashville-Davidson-Murfreesboro-Franklin, Tenn.
5. San Antonio, Texas
6. Colorado Springs, Colo.
7. Albuquerque, N.M.
8. Denver-Aurora-Broomfield, Colo.
9. Springfield, Mo.
10. Indianapolis-Carmel, Ind.
Source: Forbes, Francesca Levy (09/13/2010)
Please feel free to contact Kenny Silva anytime to arrange a showing.
The last few days were largely uneventful. The seller was unavailable and so was her agent, so we sat in limbo for the weekend.
We finally received another counter offer this afternoon. Although we couldn’t get everything my client wanted, we did get the important stuff. That said, we reached a binding agreement.
With a mutually agreed-upon contract, the listing agent now has everything she needs to submit a short sale package to the bank (or, in this case, banks.) This is where things get dicey. Once the package enters into mortgage lender limbo, it’s the listing agent’s job to make sure it goes where it needs to go and gets looked at. I’ll be following up liberally to make sure that happens.
Looking forward to the next step. I’ll let you know what happens.
We finally got a counter-offer back from the seller. Hooray!
She came back with a few different terms, but no extravagant changes. I want to protect my client’s confidentiality, so you’ll have to forgive the lack of details.
Anyway, we should be able to work something out that will make everybody happy. I’ll let you know how we respond.
After we work that all out, we ship a short sale package to the lender and wait patiently for their ever-elusive short sale approval.
Nothing to really report today. The seller of the property my client is going after has been in and out of the doctor’s office all day long and was unable to meet with her agent and look at our offer. Time is of the essence, but life certainly can get in the way sometimes. Looking forward to getting the contract negotiated and accepted today.
Then comes the fun part of assembling short sale packages to be sent to both of this property’s lien holders. Two lenders = two times the fun.
See you tomorrow!
If you were, at one time, a regular reader of this blog, you know that we’ve taken a bit of a hiatus over the past few months. Well, time to dust off the ol’ writing gloves and get back to work.
I figured, what better way to return to blogging than to write a daily chronicle of one of the more elusive processes in real estate: the short sale? In this series, we’ll follow the process from offer to close and see what really happens along the way.
And away we go…. Day 1 – July 27, 2010:
After much searching, we’ve found the perfect house. Just my buyer’s luck, it’s a short sale situation. It’s a great chance to snag a really good deal, but also a potential whirlwind of red-tape and headaches for both my buyer and me.
All fear aside on both our parts, we are going to weather the storm and get her a great house at a great price.
Details:
2:00 PM – We wrote an offer. Full price with seller paid title and 4% of purchase price towards closings costs, pre-paid expenses (taxes,escrow,homeowner’s insurance,etc.,) and discount points. 14 day inspection contingency, appraisal contingency, financial contingency. All the good stuff. We also attached short sale addenda with language that allows my client some ways out if something better comes along.
I’m all about protecting my clients and giving them plenty of
escape routes if things go south. Make sure your agent does this too.
4:00 PM – The offer’s been sent out and we’re waiting to negotiate.
9:30 PM – The listing agent has contacted me to acknowledge receipt of the offer and will present it to her client in the morning. More to come tomorrow!