Buyers Prepare For Short Sale- Hurry Up And Wait!

HIBERNATE…is the word that comes to my mind when a Buyer is looking for a short sale. The process of a short sale is long. There is a LOT of waiting for the Buyer. The Seller is supplying endless documents.

Sure there are some good deals out there but you MUST be prepared to wait for a minimum of 90 days and some can take  a year to close. I like to inform Buyers that you have to be patient and be fair to the Seller. The Seller is taking their property off the open market and nobody else is viewing this home while the process of the short sale is moving at a snails pace. If the Buyer backs out though no fault of the Seller, that is hurtful to the Seller. If you can not wait and must move in 60 days or less don’t look at short sales. Buyers Agents should be very clear in explaining this to their customers.

It is not the Seller or the Agents that are creating such long wait times. Imagine a living room with files stacked from floor to ceiling and not a space to even turn around…that’s how many short sale files these banks/lenders are working with on a daily basis. It is not a fast process.

Once a Buyer makes an offer the lender now will begin the process. The bank/lender will begin to request documents from the Seller like 2 years of Tax Returns, recent bank statements, pay stubs, letters as to why they have not been paying the mortgage, financial statements, and more! This must all be gathered then uploaded into a software program that the bank/lender uses – they don’t all use the same system. None of the information is simply sent as an Email attachment. You are not allowed to send information before it is requested….even though we know the lender will be wanting  specific documents  we can only send the documents as they are requested.

The lender will review the paperwork, and keep in mind they have stacks and stacks of files they are working through. Sometimes the Seller can’t find information being requested and some banks requires documents be sent within a certain number of days…if that Seller is out of town or can’t locate the papers being requested that file can and is sent to the bottom of the stack. Meanwhile the Buyer is thinking “What’s taking so long?” Sometimes the lender will ask for the same documents over and over again. Different people in different departments are looking at the various documents.

Eventually the lender will send a real estate professional to the house to inspect it and appraise the house.  They continue to request new documentation from the Seller. And the Buyer is now getting antsy….thinking “what’s going on”. Remember I mentioned “hibernate” that’s what the Buyers MUST do.

Eventually, there will be a request for the Buyers Offer and eventually a Counter Offer or “Approval Letter” will appear from the lender. Then there is the request for a HUD Settlement paper. This Settlement Document is sent to the Buyer and Seller to review. This shows what each party is paying for like the property taxes, realtor fees, insurance, survey, etc. Once approved you get to come out of hibernation and close the deal.

When you begin your search if you want to purchase a house that is being sold as a short sale…remember the only thing short is the amount of money the bank/lender receives from that seller- everything else about this type of transaction is LONG.

Zelda Greenberg, Realtor

Jacksonville and Surrounding Communities

904-524-5053

Optimistic Future

It’s midnight, can’t sleep…ever have those nights?

Today I closed on a house I had listed. It sure feels good to help people….the Seller of the house was in a difficult situation when I met her. She had a good job but like many others she was in a house that  had seen its value decline drastically. She was angry and depressed when I met her. She didn’t like the fact she was behind on her mortgage and facing foreclosure.

At first it was difficult to get her to return calls, confirm appointments to show her house, you name it – life was miserable. Within a few months an acceptable offer came through. Next was a long process of waiting for the bank to approve what is called a Short Sale. The only thing short in this type of sale is the amount of money that the bank gets shorted! The process of a Short Sale is long!

As the day to close on the house moved closer, I helped the Seller find a pretty home to rent. That’s when a definite shift in her personality happened. She called me one day to thank me for helping her, she said she was EXCITED about moving on with her life and not looking back.

It’s a great feeling when you help someone- as I often tell people when one door closes another opens – and who knows what wonderful things are in store for us when we let go of the things that hold us back – and take that risk of faith to an optimistic future.

Life has no guarantees. Next time life tosses you a curve ball stay focused on the doors that open and new opportunities that come your way..because they will be there if you just open your eyes and look for them.  You have a bright future ahead.

The Next Step

It’s been awhile since I last posted. Let me catch you up. I remember attending a conference of Women Business Owners many years ago. The speaker was very well known – Wilson Harrell. He said something that always stuck with me.”Know when to hold ’em and know when to  fold ’em”.  Over the past couple of years I finished writing my book and last year it was published. Yes, you can get a copy from my website at http://www.BounceBackGuru.com. I’ve had articles picked up by Spa Canada, Florida Real Estate Magazine, Arizona Real Estate Magazine and a few others! I also discovered many different careers associated within the real estate field. I studied for and passed my state exam to become a licensed community association manager. I now manage a portfolio of home owner and condominium associations. Then I took things a step further…I got my Florida Real Estate license. I know what you are thinking – why would a sane person get a real estate license in THIS economy?! This was a SMART decision. Business is booming! Sure the only thing selling is short sales and foreclosures but my focus at this time is the rental segment. I’m looking for people that have a home to rent or people that are looking to rent a home, condo, or even an apartment.

I’ve been up and I’ve been down. I’ve lost a husband, raised the kids, had money, lost money, had a business destroyed by a tornado, had competitors show the best and worst in human nature,  switched careers when most people are winding down their career. Whew…it’s tough to keep up, but through it all I keep a positive attitude and keep getting back up. It’s not always easy to pull yourself up but you can do it. There are people that are always going to be more fortunate and those that are less fortunate. Celebrate those great days and keep working through the tough ones. You will get past whatever crisis you are facing and probably be a better person because of your experience….I know I am.

If I can help you let you connect with me at: zelda@bouncebackguru.com Tell me what you think!

Quote for the Week

“There is nothing in a caterpillar that tells you its going to be a butterfly”  R. Buckminster Fuller

I saw a beautiful butterfly at my window today and remembered this quote.

You never know how things are going to turn out. So believe in yourself!  You have to work hard everyday so that when the right opportunity presents itself you are prepared! Invest in yourself this week! And ask yourself … Are you having FUN!  Your day to become a butterfly is around the corner…don’t quit trying.

5 Tips To Grow “In The Moment”

We all get impatient at times in our life. It’s like we want it all right this very minute. Here are a few tips that will help you grow and savor that “in the moment” status…

1. It takes YEARS to become an over night success.

2. Plan to succeed – Use the power of thinking positive and when negative thoughts arise- suppress them!

3. Work it – You have a plan so work it diligently. Do a few things each day that will get you moving forward. You can out work every one else.

4. Trust your faith – Trust that you are exactly where you need to be right now in this moment to get you to where you are supposed to be  tomorrow.

5. Celebrate – Yes, celebrate all the small successes you have because each of the small successes get you to the big SUCCESS.

Let’s keep the list growing – Add your tip today. To learn more about The Bounce Back Guru visit http://www.BounceBackGuru.com

Multi-Tasking Is Over Rated

Multi Tasking Is Over Rated

The phone rings, the Email “IN” box is full, there’s a knock on the door, and to top it off your next appointment is waiting in the lobby. You have a hectic life and it’s loaded with interruptions every day.  Yet, you bounce back and forth each day from one task to the next because after all you are great at Multi-tasking – or so you think.

Dangerously, we multi task even in our automobiles.  How easy is it to concentrate on that call from the boss and navigate the highway at the same time? Sure you can do it but at what cost. Remember life before mobile phones?  In the past if you had an important  phone call to make while driving you had to find a phone booth. Then you pulled over, stopped the car and only then did you make the call.  That phone call got all your attention.

Every time you switch from one task to the next you are jolting your brain to flip on and off like a light switch.  Your brain has to mentally shut down then reboot. How effective do you think you are?  Women are notorious at multi-tasking.   Women learn to talk on a phone while changing a diaper. We feed the baby and cook dinner, help with our child’s homework, all at the same time.

Quality work requires doing a job well, not five jobs completed mediocre.  There are times when multi-tasking is necessary but many times we are simply trying to accomplish too much at one time.  When does one stop all the juggling and determine which tasks should take precedence.  Here are some simple solutions that will help you stop doing so much at the same time.

Prioritize – In order to accomplish your tasks and complete them well you can first prioritize the tasks. What deadlines must be met?  What appointments or research must be met? Look at all the projects you are facing and determine what must happen first. Then determine all the tasks necessary to complete the project successfully. Work all the other tasks of the day around the most important one.

Plan – At the end of each day create a “To Do” list for the next day.  Here is where you write the tasks that are essential to complete a project on a deadline.  When planning out the day be sure to schedule a lunch break.  The lunch break allows you the essential time to step away from the project and give it some prospective.

Delegate- This can be very difficult for many people. Many people seem to think they need to do everything. In reality, there are others that can do some of the tasks quite well and you can then use your time more effectively.  Let someone else on staff handle some Emails, answer the phone, and sort the mail.  Is there someone in the office that is really good at website content?  You can even go to the local college to find Interns that are begging for work experience.

Outsource- Let’s face it if race car driving was simple we would all be race car drivers. The same is true in business. When you outsource a project you are bringing in someone else’s expertise and thus freeing up your time to do other tasks that you do best.  If you are in the Insurance industry then most likely web design is not your strongest skill.  Hire someone in the business of web design to actually design your website.  A salesperson might be an incredible closer but not so great at creating superior marketing material. That’s a job you outsource.  As a licensed community association manager homeowners hire me to manage their home owner’s associations.  Sure the home owners can self manage but it’s a lot more effective  to outsource this job to a licensed CAM that knows the state laws that will directly impact what they can and cannot legally require of the home owners. Outsourcing for a specific job makes perfect sense.

Social Media- Working on a company’s social media presence is time consuming.  Today there is an emerging industry of Virtual Assistants (VA).  These people can be hired to handle all your company internet needs. They will update your Blog, keep your LinkedIn and Facebook page fresh. They will make all the updates needed to keep your company name in front of those that are your target market.

No – Learn to say “no” to people that are interrupting your day.  You get to control the day’s activities and if someone is demanding your attention determine where that person fits into your priority plan.

Multi-tasking is over-rated.  Juggling so many different tasks means you don’t necessarily do the job to the best of your ability.  Sure you might complete the job but is it sloppy work?  Is it filled with mistakes requiring you to go back and review and rework the task?  Everyday people will call, email, and enter your day.  You must determine if you can and will make the time to connect with them or not. Remember you might be on their high priority list for the day but that does not mean they are on your priority list.

We all know that there are only so many hours to the day.  Take the time to figure out what is most important to help you achieve the goals you have for your career. Implement these six tips and you will be able to successfully stop juggling so much in a day. This will help you  stack the cards in your favor to completing your projects timely and effectively and thus make you shine.

What tasks do YOU delegate OR out souce? Post your comments!

Zelda, The Bounce Back Guru™  keynote speaker, radio personality, author of The Art of Bouncing Back and a licensed CAM. She speaks to associations, organizations, on seizing opportunities, reinventing yourself, positive attitude, and bouncing back in challenging times. To learn more visit Zelda at www.BouncebackGuru.com

Come Hang Out

My Blog talk radio show will be back on the airwaves beginning August 5th! I’m excited. I’m working hard to get the best experts on financial matters, marketing ideas, authors, millionares, and even a few billionaires, to share their wisdom with you.

You won’t want to miss out. Every Thursday from 3:30 PM – 4:30 PM EST We’ll share 60 minutes of fun, entertaining, informative strategies and tips on how to help you get ahead.

So mark your calendar for Thursday’s beginning August 5th….and come hang out with Zelda, The Bounce Back Guru.

http://www.BlogTalkRadio.com/ZeldaBouncebackGuru

Stress Less

Stress is a funny thing. About a month ago, I had been under some stress and thought I was hiding it pretty well. Then I got a phone call from a fellow speaker needing some information.  He asked me “what’s wrong…I can tell in your voice that something is off.”  Wow, if he could tell and he didn’t even know me that well …then it must have been obvious to others too!  Does the tone in your voice reveal more than you think?

We all know problems don’t always go away – at least not as quickly as we want. So what can you do to turn things around? Have you experienced a set back or obstacle that weighed heavily on your mind? Is it affecting your work? Can people detect something in your voice? Your behavior? What stress are you facing.

There isn’t a person alive that doesn’t experience a difficult situation at some time in their life. In fact, if you are like me then you too have peaks and valley’s throughout your life. How does one learn to cope so the burden isn’t too heavy.

When you lift up a glass of champagne for a toast the glass is filled and it’s a joy to hold – not so burdensome. Suppose you keep that glass raised high in the air for say an hour…your arm is going to get kind of tired. Try to keep the glass raised for a few hours your arm is going to give out…might even turn numb. Stress is just like that, the longer you hold on to it the more troublesome it becomes.

What would happen if you put that problem down -even if for just a little while? Sure the problem might continue to exist but for just awhile your load isn’t quite so heavy. It’s okay to let go and take a rest – leave your troubles in the office or just take a break from the situation.

Once you have had a little rest you will be ready to reenter and tackle the stressful situation with more gusto and renewed positive attitude. And sometimes with a little time the stressful situation goes away completely! Now that I am thinking about it, I don’t remember what was so stressful last month.

What do YOU do to STRESS LESS?  Post YOUR Tips HERE!!!!

Zelda

Temptation

When I first started my diet I thought if I can just get over the evening snacking all would be good.  I was wrong.  I didn’t realize how much temptation is out there day after day.

As a substitute teacher, students are constantly bringing in food – and not of the healthy sort.  I was substituting for a kindergarten class and a parent brought in a birthday cake.  I wanted a piece but I resisted.  The next day I was off to a different school and a new kindergarten class.  This time a parent had brought in Tastycake Chocolate cupcakes – the kind with the yummy cream filled center…my favorite.  Nothing like a glass of cold milk with a chocolate cupcake. The temptation was messing with my head.  I REALLY wanted that Tastycake, but again I resisted.

That’s when I realized temptation is always out there. Junk food the sugary kind is always out there calling my name.   Temptation is not just around after I finish dinner.  I’ve managed to get through this week resisting all the delicious desserts that I would normally consume. It is a great feeling of accomplishment.  It’s just a matter of telling yourself you will control the food that goes into your body not the food controlling you.   For anyone out there struggling with your weigh issues or whatever it is that you know you must resist, I’m sure you can relate.  It isn’t easy but I’m sure it will get easier. For me I know I will be happy that I resisted all these temptations – especially once the clothes start feeling like they are too big for my shrinking body.

Want to add your two cents worth? Post your comments

The Talking Key Lime Pie

Urges oh they are powerful. I had just begun my new diet…one that did not allow sugar…and I admit I am addicted to sugar. The only way for me to tame the sugar beast is abstinence. Once I go without the sugar for a week or two my body seems to stop the craving. I was determined that this was going to be my turning point. I’m a grown woman, I KNOW what I’m supposed to eat and not eat. I don’t really need a diet book or diet group.  I just needed to control the food and stop letting it control me. I was determined to take it one day at a time.

So here I was, 3 days into the diet and not cheating…doing great and not even suffering. I’m sitting down at a luncheon quietly listening to the speaker and eating my meal.  The Key Lime Pie dessert had been  staring at me the entire meal.  I keep telling that key lime pie to stop looking at me. But it was staring me down. I thought to myself,  I’ll ask the waiter to remove it from my eye sight…but that didn’t happen.

I was now finished with my meal and that dessert was no longer just staring at me …my goodness it was whispering to me…”come take a taste…just one little bitty bite”.  I told it to keep quiet. That Key Lime Pie kept tempting me to come take just one bite. I told it to stop. I was tossing it back and forth in my mind …I said to myself “Key Lime Pie is not my favorite dessert if I’m going to cheat then at least cheat over something you love”.  But that darn pie began to SHOUT at me…”Zelda just one bite won’t kill you!”.   Ah but it could….so I resisted.

The next thing I knew, people were applauding…had they seen me resist that pie? No…the speaker was finished and as quickly as possible I got up from the table and left that Key Lime Pie to tempt someone else. Victory for me on day three!