Foreclosures vs. Short Sales

November 11, 2014

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CHAMBERSBURG OFFICE SALES

MEETING

LuxuryCollection

Short Sale vs.Foreclosure

Seller/BuyerGuides

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OCTOBER MARKET REPORT

• Listings UP

• Pendings DOWN

• Days on Market UP

• Prices FLAT

• Absorption rate is 8+ months (6 months is a balanced market)

• Seller’s need to price properties realistically

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DEPOSIT MONEY

What does the agreement of sale say about what happens to deposit money if the transaction falls apart?

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FORECLOSURE VS. SHORT SALE

Confusion is Rampant

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1. EXITING THE HOMES

Public Notices vs. For Sale sign

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2. LENGTH OF TIME

+/-11 months vs. +/-6 months

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3. DEFICIENCY JUDGMENT

Yes vs. No (maybe)

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4. FUTURE MORTGAGE

Wait 7 years vs. Wait 2 years

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5. CREDIT SCORE & HISTORY

Negative Impact vs. Some Impact

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6. SECURITY CLEARANCES

Negative Impact vs. Almost Never

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7. EMPLOYMENT

Possibly vs. Almost Never

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8. PAPERWORK

Ignore Mail vs. Stacks and Stacks and . . .

OVERDUE

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9. TAX RELIEF

Little Impact (usually) vs. Forgiveness (for now)

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BE CAREFUL

YOU ARE NOT ANATTORNEY ORACCOUNTANT

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LUXURY COLLECTION

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LUXURY COLLECTION

Qualifications

• Pricing: PA - $500,000 MD - $650,000

• Excellent condition

• Value must be in home NOT land

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ADVANCED PROPERTY MARKETING SYSTEM

Distinctive Luxury Collection Signage

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ADVANCED PROPERTY MARKETING SYSTEM

Brochures & eCards (Marketing REsource)

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ADVANCED PROPERTY MARKETING SYSTEM

Postcards (XpressDocs)

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ADVANCED PROPERTY MARKETING SYSTEM

Online Luxury Collection Magazine

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ADVANCED PROPERTY MARKETING SYSTEM

• Posted on highly visible websites: Homesale.com, HomesaleLuxury.com, Issuu.com, and Facebook.com

• Appears on news feed of up to 30,000 Facebook users

• Copy e-mailed to every Homesale agent

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ADVANCED PROPERTY MARKETING SYSTEM

HomesaleLuxury.com

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ADVANCED PROPERTY MARKETING SYSTEM

• Overview of Luxury Collection program

• Syndicated to over 32,600 real estate websites

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ADVANCED PROPERTY MARKETING SYSTEM

Facebook.com/HomesaleRE

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ADVANCED PROPERTY MARKETING SYSTEM

Pinterest.com/Homesale

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KEEPING CURRENT MATTERS

KeepingCurrentMatters.com

Do you know what is happening in the marketplace?

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KEEPING CURRENT MATTERS

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KEEPING CURRENT MATTERS

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KEEPING CURRENT MATTERS

• Each 14 page booklet can be customized to agent

• Keep your Buyers and Sellers informed on what is happening in the marketplace

• Send me an e-mail requesting copies and I’ll send both Buyer and Seller booklets, branded to you, in PDF and PowerPoint format

FREE

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ABOUT THE PRESENTER

Tom Blefko is a real estate broker with over thirty years experience in all facets of the residential and commercial real estate industry including sales, leasing, office management, property management, development, construction and training. During the course of his career, he has been an award-winning salesperson and assisted other agents in negotiating and closing over one thousand real estate transactions.

Contact Information: Tom Blefko, Associate BrokerBerkshire Hathaway Homesale

RealtyOffice: (717) 267-3222Cell: (717) 587-6600E-Mail: TBlefko@Homesale.com