Localism: Prince Edward Island

Re: Immediate Help with a Short Sale

Tue, 02 Dec 2008 16:55:48 -0600

Yvette:
Thanks for connecting with me. Let me know where are you located, maybe I am familiar with your state law.
Depending on the situation, it is likely that the bank will delay the foreclosure sale. There are ways to delay the sale. Often a short sale in process with a buyer ready will help. Another way is to file for bankruptcy. This is not to be taking lightly. It is hard for me to tell given the little I know.
I would suggest that if there is enough equity in the house, your husband pays the arrears if he is better of keeping the property if the property will be sold. It would be better if the house is vacant, because vacant houses are much easier to sell. However, if he ends up having a scandal with his mother she can become un-cooperative and the property will be hard to sell. This is a thought situation. Consider talking to a local real estate attorney. I am in Portland, Oregon. If you are in this area I can help you better.
Sincerely,
Oscar
At 07:04 PM 12/1/2008, you wrote:

Hello
My name is Yvette my husband is in foreclosure right now he has a month before the house will be sold to the county we don't know but mostly it will happen. we don't leave there his mom live there and she is the one who pay the mortgage every month and she did not told my husband on anything until my husband seen some letter in the counter that his house is in foreclosure.
Anyway, to make it short my husband talk to the lender GMAC negotiating to keep his house he owe $350,000 his interest rate is adjusting every month etc.. so he decided to do short sale to slow down the process of the foreclosures, in the main time he gave his mom a verbal notice to find a place to live she said she won't leave until the house is sold.
Does she has the right to stay until the house is sold? my husband wants her out there now.
Please help don't know what to do.
Sincerely Yvette

Oscar Morante www.bestshortsales.com oscar@bestshortsales.com Ph: 971-222-3734 Fx: 503-296-5663 9220 SW Barbur Blvd. Suite 119 - #159 Portland, Or 97219

www.bestshortsales.com, www.rapidforeclosuredata.com, www.oscarpdx.com, www.shortsaleprocessing.com

Search Engines / Lighthouse Point PEI

Wed, 19 Nov 2008 09:03:33 -0600

I'm the last person to give advice on search engines ( maybe not the last ) but; we have just required the services of a search engine adviser which has paid of quick. We have listed some water front properties www.lighthousepointpei.com, this website was active for the last year. After researching on search engines 'Google' their website was not coming up, great site with no hits. We tried everything, even entering the complete name into the search nothing was coming up in the first five pages of the organics; does anyone go past the first page? Our search engine adviser was quick to point out that search engines do not recognize beautiful pictures only content, key searched words. Since acquiring his services we have moved up the organics quickly and our looking at sponsored links. Comments on search engines?? Anyone looking for water front lots on PEI? Visit www.peigoldteam.com

PEI is #5 Island in North America

Tue, 18 Nov 2008 21:49:21 -0600

Condé Nast Traveler magazine has ranked Prince Edward Island, Canada, as the #5 best Island in North America.

PEI Real Estate is the best in the world. Investors in PEI testify that this Canadian Island is unique in its

culture, and still has a strong "sense of family".

George, Red Soil Real Estate Inc., http://www.buysellpei.com

"So how's the market in Charlottetown"

Tue, 28 Oct 2008 14:37:06 -0500

With all that is going on in the media regarding the economy and real estate, this question comes up frequently. I thought I would compare the past few years in terms of listings and sales volume by month. The data is for Residential Sales in the Greater Charlottetown Area, including Stratford and Cornwall, back to 2005.

While inventory is up and the sales volume is down, prices have remained fairly steady in this area. It is interesting that June, July, and August sales were actually UP compared with 2006.

The charts provide a pretty clear picture of the trends in the past few years - click on the chart to enlarge them.

FAQ's to a New Real Estate Agent

Tue, 16 Sep 2008 14:38:33 -0500

Since I started working as a Realtor, I have had lots of people asking me questions about my new career. I thought it would be fun to do a FAQ's of the questions that are common:

Q: Is it OK to call your Realtor on a weekend / evening / holiday?

A: Absolutely! I'd say at least 50% of my business is done outside the traditional 9 - 5 work day, and I'm sure it's the same for other agents. It only makes sense as people who work during the day need to use their time off for the majority of house buying and selling tasks. (I was showing houses on Good Friday and Easter Sunday this year. The homeowner was ok with it, so I was too). Realtors never sleep. Well, they do with their iPhones tucked under their pillow. I have lots of clients who send me emails at all hours of the day and night- I do respond to them when I am awake but I also have a young family and I do schedule time to spend with them as well. I pride myself on getting back to people in a quick and efficient manner. Go ahead try me at kelly.lantz@century21.ca.

Q: How do you get paid?

This is often gently brought up, especially when I offer to work as a 'buyers agent'. I get paid strictly on commission, not salary. The commission is paid from the proceeds of the sale from the owner of the property. Quite often, it is shared between a selling agent and the listing agent. After that an office (broker) will usually deduct a portion for the services the office provides and any expenses that are owing. So, when I act as a buyers agent, the services are provided free of charge to the buyer - you can't beat that fee!

Q: Can you show me a house listed with another agent / company?

Yes, I sure can. I can show you any property that is listed within the MLS system. I can set up the appointment and research the house to give you all of the background information you need to help you make an informed decision (ie. what upgrades have been done, when did it last sell, and for how much etc). When I was house hunting for my second home, I didn't know Charlotte could show us houses listed with other agents so I was calling the agent who's sign was on the lawn. She soon set me straight :)

Q: Do you work full time?

Not in the traditional sense of Monday to Friday, 9 - 5. But I probably average 30 - 40 hours per week most weeks. In the summer it was more like 50+ hours - lots of evenings and weekends, but I still manage to get to spend at least part of every day with my boys. My cell phone hours for July were really high, I think I must have been on the phone most of the month. In my opinion, it would be difficult to be a part time real estate agent. The schedule works for me though, as my husband is home on the weekends and he always has a great list of 'boy adventures' lined up for our sons. And I am able to pick them up after school through the week.

Q: What is it like working with your Mother in Law?

It is actually really, really fun working with Charlotte. I think she was nervous at first at the idea of me coming to work with her, but we get along great. Not to say there aren't moments of stress of course, but usually if one of us is stressed, the other is calm so we balance each other out. Charlotte has been an agent for 10 years, so she is a great person to go with for advice and support. She is also smart and fearless, and more like a friend to me than a mother in law. Working as a team is perfect for me, since there are always last minute things that come up, or scheduling conflicts - I can always rely on Charlotte as a back up plan. Even to go on vacation, it is really a luxury to have someone taking care of my clients for me.

Q: Do you like being a Real Estate Agent?

I do. It feels like a good fit for my past work experience - a combination of sales, marketing, PR, and a degree with a major in Psychology :) I have met some great people and made some wonderful friends, and I really enjoy working at Century 21. No two days are never the same, and there is never a dull moment.