Fear….

It’s amazing how crippling fear could be, and how “fear” could be the underlying motive driving our decisions.

I have a client who has viewed many (I think we’re up to 20) homes, and today I just realized why we do not have one under contract. FEAR.

I have shown everything on the “wish list”, intown- out of town, up and down, pools, facing North… flats.- You name it, and we have come -THIS- close to making offers…until we have a 3rd tour  of the  home. Right before signing on the dotted line, she finds something wrong, something unchangeable (the flow of the walls) to convince herself  “this is not my home”.

How do I help her overcome this? It’s funny, because I have lived in MANY homes-i would never have thought (from initial inspection) that they were “MY” home. It wasn’t until I put my stamp, MY love-and MY life in it that it transformed into MY home…but there is nothing I can say about the feng shui of a wall…

Just when you think being a Real Estate agent is only opening doors and wearing cute shoes…I must use some phycology and find out our stumbling block or we are just wasting time and turning down a lot of great homes!

Another Short Sale WIN!!!

Great news! We have another short-sale win, this time in  Westview! While it’s been a 10mths struggle to get the bank to come around- it’s also been 10 months of preventing an owner from being foreclosed on!! I’m very excited about this win as I have seen many agents attempt to negotiate short sales in the past and fail. “Thank you”, to my wonderful Short Sale partner and attorney, Cameo Nichols.

1716 Rogers Ave will have a new owner in no time! We are due to close on the 18th *send prayers up that all goes well*  The new owner is looking forward to being apart of the community and restoring that beautiful double lot home to it’s glory.  The old owner is looking forward to this being over and restoring her life after this battle with JP Morgan Chase.

As much of an emotional battle it is, I am willing to continue to help those  facing foreclosure and under water in their mortgage, try to obtain a short sale with their bank. The process is long but worth the fight- (the relief on this Seniors face for Rogers was worth every minute).  Please feel free to refer me to anyone you know facing these difficulties, most of the time help is not requested and many are living in fear silently until they are foreclosed.

Good things are happening in Westview and West End, let’s keep up the great energy and continue to help our neighbors while building our neighborhood!

What’s a Short-Sale?

A short sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed.

Examples: If the unpaid balance of a loan is, say, $100,000 and a property sells for $90,000, under a short sale the lender might accept $90,000 as payment in full.

Def from About.com

This hit home today…

being that I’m from NY and have worked on Wall Street with Lehman…I was saddened, and a bit fearful when I saw the headlines.. Then after my prayers,- I know that God is still on the throne and all that is, will not break my spirit.  With renewed strength, my prayers are with those whose lives are greatly impacted by the current state of the U.S.

Financial Giants Fall Victim to Mortgage Crisis

Weighed down by losses in the U.S. mortgage crisis, the stability of major financial institutions continues to be shaky. On Monday, U.S. investment bank Lehman Brothers Holding Inc. filed for bankruptcy and Bank of America announced that it would be buying struggling Merrill Lynch.

Lehman’s is the largest casualty, so far, in the past year in the ongoning credit crisis. Lehman filed for bankruptcy on Monday following a failed attempt over the weekend to find a buyer.

Concerns over the stability of other firms also looms, particularly after the U.S. government’s decision not to provide any bailout for Lehman. In March the government provided financial backing for JPMorgan’s takeover of Bear Stearns, the first big bank to fold under the mortgage crisis.

Also on Monday, No.2 U.S. bank giant, Bank of America announced it would be buying Merrill Lynch in a $50 billion deal.

“Acquiring one of the premier wealth management, capital markets, and advisory companies is a great opportunity for our shareholders,” Bank of America Chairman and Chief Executive Officer Ken Lewis said in a statement. “Together, our companies are more valuable because of the synergies in our businesses.”The buyout is expected to close in the first quarter of 2009.

Source: Reuter News, Ellis Mnyandu (9/15/08) and Associated Press, Madlen Read and Tim Paradis(9/15/08)