In this video John answers one of the most common questions of Medford, Ashland, Grants Pass and all of Southern Oregon homeowners... What is a short sale?
Does it Hurt My Credit?
When considering a short sale, homeowners are naturally concerned about how their credit will be affected. In this video I talk about how your credit is affected in a short sale and a foreclosure.
Taxed on the Difference?
Doing a short sale is complicated, and there are many scenarios... So, I don't want to say that you will never have to pay tax on the difference. But, in most circumstances the taxes can be avoided.
Many homeowners doing a short sale wonder about what will happen with the difference between what the home sells for and what was owed on the mortgage.
Getting Short Sales Approved In Time To Postpone Auction Dates
Hi, John Sellers here with ForeclosureSlayer.com and Keller Williams Realty in Southern Oregon. We’re helping people beat the banks and avoid foreclosure by doing short sales. Today I want to talk about postponing an auction.
PHH, who is our lender in this case, is a pretty tough lender. We had a client that recently came to us and they had waited until 30 days before their auction. That’s a pretty tough time frame to put a deal together, but what we did was put the home on the market anyways because it was a good property. We received an offer in three days; we knew the offer would be acceptable in terms of price range, but at that point our team went crazy putting the short sale package together because PHH had said that wouldn’t accept the deal without an approval and wouldn’t postpone the auction. We moved quickly to get the short sale package together; they asked us for some extra things, but we’ve learned in these types of situations to not fight them and just give them what they want. We actually created a document that our seller could sign off of their phone to get the short sale package in on time. We got the offer in on Friday and the auction was postponed on Monday. We had an approval on a short sale with an FHA loan; the appraisal came in fine and we’re going to close on this short sale next week. The entire short sale is going to take about seven weeks, which is very quick, especially for an FHA loan.
If you’re in the Southern Oregon area and would like to know about short sales, how you can take advantage of the tax benefits before the end of the year, or how we can help you save your credit, please give me a call at 541.646.5859 or just click the button on my website for more short sale information.
Lenders & Investors Handing Out Cash Incentives In Order To Complete Short S...
Hello everyone John Sellers here with ForeclosureSlayer.com and Keller Williams Realty in Southern Oregon thank you for joining me today. My team of short sale experts are working with distressed property owners in Southern Oregon every day and I use this blog to share valuable information on all of your options for avoiding foreclosure. If your mortgage is underwater and you are struggling to make your payment each month take a minute to browse my website or call me directly to learn more about your real estate options.
In my blog today I wanted to speak with Southern Oregon homeowners about the opportunity to receive a cash incentive at the closing of your short sale. As short sales become more common in Southern Oregon mortgage companies are helping homeowners get out from under their distressed property and also providing anywhere from one thousand to thirty thousand dollars at closing for your short sale. This cash, often referred to as relocation assistance, comes with no strings attached and can be used to get caught up on bills or to help you with your moving expenses. While many lenders, such as Chase Bank, have been handing out cash for a while mortgage investors like the FHA are also getting in the act. Currently the FHA is handing out between seven hundred fifty and one thousand dollars for every single short sale that they approve. Given these great cash incentives and other programs like HARP and HAMP now may be the best time to short sale your Southern Oregon property.
For more short sale information or to start your file today fill out a contact form on my website and our team will be in contact with you soon. Thank you for your time today and I look forward to helping you with all of your Southern Oregon real estate needs in the future.
Are there any Guidelines to Short Selling a Luxury Home?
Hi, I’m John Sellers with ForeclosureSlayer.com and Keller Williams, one of Southern Oregon’s leading short sale teams. Today I would like to talk about luxury short sales in the Southern Oregon area. Right now is an awesome time to be looking at short selling your home if you are way upside down in this market place. Here’s the reason why; our inventory has dropped 50% over a year ago. It’s strategically low and our sales are up so we are actually seeing some movement in pricing. For many of you that are 50 to 70% upside down, that means your house would have to go up 100% just to break even. It’s going to take a long time even with the market moving at 10% a year to get to where you need to be.
So right now if you have been holding out on your luxury property, the tax forgiveness act or mortgage forgiveness act is ending at the end of this year. You want to get started on this now and get it taken care of. Many times the tax consequences can be a huge burden for you but right now it’s really a free ticket. So if you are in a luxury home and you’d like to talk about how we short sell luxury homes, why it’s a great time to do it, why banks are accepting them, and why often they are paying you, contact us today. If you have a Chase mortgage that was originated with Washington Mutual, there is a great opportunity for you. Please give me a call today. Again, I’m John Sellers with ForeclosureSlayer.com, one of Southern Oregon’s leading short sale teams and we are here to help answer any questions you may have about the short sale process. Give us a call today, our number is 541-646-5859. Thanks and we look forward to speaking with you soon.
Hi John Sellers here with Keller Williams in Southern Oregon and ForeclosureSlayer.com. If you’re looking for short sale information on your Bank of America/FHA loan, you’ve come to the right place. Bank of America still controls roughly 70% of all the mortgages in the marketplace and people ask me all the time if they’re hard to work with. Sometimes it’s easy to work with them and sometimes it’s tough; it just depends on who your negotiator is.
I wanted to talk to you about the Bank of America short sale process and how it’s working today. It’s really a four step process. Once we put your short sale together we’ll send it to a negotiator. The negotiator won’t look at it until the processor has looked at it. The processor makes sure all the paperwork is together and forward it to the first-tier negotiator. They’re going to make sure all the information has the best chance of getting the offer accepted. They’re going to order the BPL at this point as well. Once they have everything on the BPL, they send it to FHA to get an approval. They’ll issue an approval based on what they’re willing to accept and any other terms. At this point, we’ll relay the information on the terms of the short sale to the seller. Most of the time we’re getting some money coming back to the seller as a relocation expense. Once FHA is done we go to the second-tier negotiator that wraps up all the final details and issues the final approval. Bank of America has been really slow on their FHAs lately; they’re getting them done but they had said they were doing something to speed up the process and it ended up slowing it down.
If you’ve got a Bank of America short sale that is an FHA, we can walk you through it and show you how the short sale process works. It’s a little tricky if you have a second mortgage on your home because they don’t like to pay out much to the second lien holder, so let me know right away if you do have one. Please give me a call at 541.646.5859 if you have any further short sale questions about your Bank of America loan.
Listing Your Home At The Best Price Will Ensure A Quick Short Sale
Hello everyone my name is John Sellers with Keller Williams Realty in the Southern Oregon area thank you for your time today. I work with distressed property owners in Southern Oregon every day and use this blog to share valuable information on your options for avoiding foreclosure. If you are struggling to pay your mortgage or have seen the value of your home greatly diminished take a minute to browse my website or call me today to learn more about your options.
For my blog today I wanted to talk to you about the importance of pricing your home in the Southern Oregon area. If your mortgage is underwater it can be very frustrating but it is important to remember that the value of your home is dictated by the market. The amount of money you owe is irrelevant and we want to have an accurate price in order to find the best offer. Thanks to the lack of housing inventory right now in Southern Oregon I am seeing homes sell with out much of a discount. In the past this was a big problem and many homes had to be sold at a deep discount in order to complete the short sale. Listing your home for an accurate market value is essential to your short sale file in order to achieve a fast approval letter. If the home is over priced your bank will likely deny your short sale in which case we will have to start the process over in order to receive an approval.
An accurate listing price starts with finding an agent who has short sale experience in Southern Oregon. If you have questions on the short sale process or your mortgage call me today or fill out a contact form on my website to learn more about your options. Thank you for your time today and I hope to hear from you soon at Keller Williams Realty in Southern Oregon.
Hi this is John Sellers with ForeclosureSlayer.com and Keller William’s Realty in Southern Oregon. I am one of the leading short sale specialists in the Southern Oregon area and I’d like to let you know that I’m here for all of your foreclosure and short sale needs.
I have some great news on pre-foreclosure sales. We are seeing the amount of pre-foreclosures skyrocket right now. According to Realty Track, after quarter one, pre-foreclosure sales, which are typically short sales, reach their highest levels in the first quarter of 2012 since 2009. That actually puts them up 12% of all the sales happening across the country; in our market here in Southern Oregon, it’s actually short sales representing over 20% of the market. They are going fast and are also going for top dollar right now. They’re still a better deal than normal sales for most situations.
Also what we’re seeing is foreclosure rated sales picked up in the first quarter, particularly pre-foreclosure sales where a distressed homeowner is selling to avoid foreclosure, typically via a short sale according to Realty Track’s CEO. These pre-foreclosure sales hit a three year high in the first quarter as the average sale price of a pre-foreclosure dropped, however that isn’t happening in our market. Our prices are up in the first quarter of this year and are expanding again in April and May.
If you are considering selling your home and think you would like to do a pre-foreclosure sale, which would be a short sale, please give us a call or send us an email. We’d love to talk to you about it because there’s never been a better time to do a short sale. Don’t forget as well that the Mortgage Forgiveness Debt Relief Act ends at the end of 2012, so if you want to avoid the potential taxes on this, please contact us today at 541.773.7355.
New Housing Data Shows Good Signs For Southern Oregon Residents Looking To Buy
Hi there John Sellers with ForeclosureSlayer.com, your Southern Oregon short sale specialist, thank you for your time today. I work with Keller Williams Realty in the Southern Oregon area and use my blog to share valuable information on the short sale process. If your mortgage is underwater or if you can no longer afford your monthly payments take a minute to visit my website or contact me directly to learn more about your options.
For my blog today I wanted to discuss some recent information on the Southern Oregon housing market published by the folks at Clear Capital. According to the data put out by Clear Capital home prices in the western part of the country rose more than any other part of the country in the first quarter of this year. Overall, property values in the west rose 2.7% in the first quarter of this year and are up year over year from the data published in 2011. This increase in prices does include REO properties that are being resold by banks across the nation. I can tell you in Southern Oregon that the demand for middle to upper tier homes has certainly risen over the last few months. The upper tier represents home at or above three hundred forty seven thousand dollars and the inventory for homes at that price continues to decrease. In fact, inventory numbers in Southern Oregon have dropped so much that some homeowners are even looking to build new homes within the area.
What this new information tells me is that there are still great deals to be had by homeowners looking to buy in Southern Oregon. Give me a call today to discuss all of your real estate questions and find out how our team can help you. Thank you for your time today and I hope to hear from you soon at Keller Williams Realty.
Is It Possible To Get Deficiencies Waived on A Second Mortgage
Hello everyone John Sellers here with ForeclosureSlayer.com, your short sale specialist in Southern Oregon, thanks for checking out my blog today. Our team of short sale experts at the John Sellers Group is working every day to help Southern Oregon homeowners avoid foreclosure through the short sale process. If you are unsure what to do about your upside down mortgage or are already considering a short sale take a minute to browse my website or contact me directly for even more information on all of your real estate options.
For my blog today I wanted to discuss the importance of getting deficiencies waived on a second mortgage during a short sale. I recently closed a short sale with GreenTree that involved a second mortgage and due to a legitimate hardship we were able to get this deficiency waived by the lender. GreenTree was excellent to deal with and they did everything we expected in order to help this Southern Oregon homeowner get out from under their mortgage. When I first met with this client their second mortgage of nearly sixty five thousand dollars was one of the biggest concerns so I was certainly happy to help them settle not only their first mortgage but also pay a reduced amount on their second. All deficiencies were waived on both the first and second mortgage and thanks to the Mortgage Debt Relief Act this Southern Oregon homeowner will pay no income taxes on the debt that is forgiven.
If you have questions on the short sale process please give me a call today to discuss all of your real estate options. Our team has the experience and dedication to get your home sold fast with the best terms available. Thank you for your time today and I look forward to hearing from you soon at ForeclosureSlayer.com.
Great Success Story For Medford Homeowner On Jumbo Loan Short Sale
Hi there John Sellers with ForeclosureSlayer.com, your Southern Oregon short sale experts, thank you for your time today. The John Sellers Group is dedicated to helping Southern Oregon homeowners avoid foreclosure and I use my blog to share valuable information on the short sale process.
Today I wanted to talk about Southern Oregon property owners with a jumbo mortgage on their luxury home. I recently closed a short sale for a client on their jumbo mortgage and had a very big surprise waiting for them at closing. This particular Southern Oregon homeowner had a very large mortgage around seven hundred thousand dollars and received a check for thirty five thousand dollars from their lender at the closing table. I had certainly heard about other homeowners receiving checks at closing but this was a first for one of my clients. This particular short sale was through Chase Bank and could not have gone any better for this client. Not only did Chase Bank provide thirty five thousand dollars at closing for our homeowner but also provided funds to help payoff a second mortgage. Chase Bank did everything they could to help our client get out from under their distressed property including paying all of the closing costs. While Chase isn’t the only bank offering incentives to complete a short sale they are certainly the leader when it comes to helping homeowners avoid foreclosure.
This was a great success story for our client and just goes to show how far lenders are willing to go in order to complete a short sale these days. If you have any questions on your current mortgage or are already considering a short sale stop by my website or give me a call today to discuss all of your options. This is John Sellers with ForeclosureSlayer.com thank you and have a great day.
There Has Never Been A Better Time To Short Sale Your Oregon Property
Hello everyone John Sellers here with ForeclosureSlayer.com, your Keller Williams Short Sale Specialist in Southern Oregon, thanks for checking out my blog today. I use my blog to provide valuable information to distressed property owners in Southern Oregon on their options for avoiding foreclosure. If you have questions about your mortgage or can no longer afford your monthly payments contact me today to learn more about your options.
Today I wanted to give you all an update on the short sale market in Southern Oregon. I am pleased to tell you that the number of short sale continues to rise for Southern Oregon homeowners. This is largely due to the lack of inventory causing hopeful buyers to find bargain short sale home. In fact, the current Southern Oregon real estate market is made up of nineteen percent short sales, forty percent were bank owned transactions, and only thirty nine percent were traditional sales. Bank owned and short sale properties continue to can ground in this market and homeowners continue to get out from under their distressed property. Because of this lack of inventory properties being sold through a short sale are often receiving multiple offers. This is great news for both the homeowner and lender because it will reduce the amount of debt that needs to be forgiven. If you are thinking about short selling your property now is the time.
The Southern Oregon real estate market has shifted to a sellers market and I want to help you get rid of your underwater mortgage. If you are unsure of what to do with your distressed property give me a call today to arrange a free consultation. Even if a short sale isn’t right for you we will explore all of your real estate options. I’m John Sellers with ForeclosureSlayer.com, thank you for your time and I hope to hear from you soon.
John has been a licensed Realtor since 1990 and has assisted people in buying and selling over 500 homes in both weak and strong real estate markets. John closed his first Short Sale transaction in 1998 and holds a Certified Distressed Property Expert (CPDE) designation.
At the request of John’s clients, between the years of 2002 and 2007, he originated loans along with selling Real Estate. During this time, John closed hundreds of loans and learned first hand how banks operate. This inside perspective has proven very valuable in understanding bank
processes and assisting clients in successful short sale transactions.
All this extensive training and background in all aspects of Real Estate and Mortgage have been added to a heart that desires to help guide others through the difficult financial times we find ourselves in today. The real estate crisis has touched John’s family, friends and clients. His
goal is to help those in a distressed situation make the right decisions by allowing them to be fully aware of the options available and assist in guiding them through the process.
John is Full-time Principal Broker in the State of Oregon. He has won numerous awards such as the Prestigious Re/Max Platinum Club and 100% Club. He has been a coach and trainer to hundreds of Real Estate agents throughout the U.S. and Canada.
John is a graduate of Medford Senior High and has a Bachelors Degree from Azusa Pacific University where he graduated Cum Laude. He has been married to his lovely bride Jill for 20 years and has 3 children, Zachary (14), Sophia (12) and Jacquelyn (7).