Hayes Realty Group

John J Hayes Always stay on "PAR" with your real estate needs Serving Sacramento, Folsom, El Dorado Hills, El Dorado County      Saturday August 19th, 2017

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A Common El Dorado Hills Short Sale Marketing Mistake: Not Using the MLS Properly

said September 27th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – This MLS Mistake could cause the right buyer to never look at your home in the first place. The Multiple Listing Service (MLS) is the first place an agent representing a buyer is going to look for homes for sale. (The Multiple Listing Service, which I will call MLS for short, is the database of homes for sale that all realtors in a certain area share. When an agent has a buyer and their own homes for...

A Common El Dorado Hills Short Sale Negotiation Mistake: Allowing The Buyer To Pressure You Into Accepting The First Offer

said September 13th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Many times you will feel pressure to reply right away to an offer. But, that doesn’t mean that you shouldn’t negotiate. Buyers are impatient and if they really like your house, then they will want an answer to their offer right away. But, you know what else that means? It also means they are probably willing to pay more for your property. Take the time to talk to your realtor. You need to take a little time...

A Common El Dorado Hills Short Sale Negotiation Mistake: Talking Too Much

said September 12th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – This is the worst sin of negotiating. Don't tell the buyer's or their agent your life's story. What do you think would pop into a buyer's head if they heard this out of a seller's mouth? "We must sell the home because it is in foreclosure and if we don't sell it be June 23rd, then the bank will foreclose on it." Immediately they will think, "I wonder what they owe on the house. If it doesn't...

How Does A El Dorado Hills Short Sale Save My Bank Money?

said July 24th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – We throw around the statistic that a short sale reduces a lender's losses by 20% compared to a foreclosure. However, I am sure that there are many people who find that hard to believe. So today I am going to give you a breakdown of exactly why it happens. I will use an real life example. A short sale was listed for sale for $425,000. After a few months, the sellers received an offer for $385,000. They submitted...

El Dorado Hills Short Sale Question: I’m Having A Hard Time Negotiating A Short Sale On A HELOC Loan

said April 21st, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – The Stop Foreclosure Institute recently received a question about short sales. Here is the question. “What is your experience with HELOCs? I have a HELOC that is a 2nd mortgage. The first mortgage will give them 6% or approximately $3000. The HELOC is saying that they want 30% ($30,000.) They won't budge. They want this in CASH, not as a promissory note (in case the seller does a bankruptcy.) They are telling me they will...

Another Common Myth About Folsom Short Sales: You Have To Be Behind On Payments Before Your Lender Will Approve A Short Sale

said April 18th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – This is a common myth that is promoted by people that do not understand lenders or the foreclosure process. However, it's not true. Many homeowners have short sold their home and never missed a payment. The lenders will approve a short sale where the seller has not missed a payment when the following is in place. 1. The homeowner owes more on their home than it is worth. 2. The homeowner has a verifiable hardship that will force them...

El Dorado Hills Short Sales: The Most Effective Way To Stop Debt Collector Harassment

said March 28th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Debt collectors are infamous for multiple phone calls at all hours of the day. One person told the Stop Foreclosure Institute that he would receive several phone calls the first thing Sunday Morning. "They would call my home phone at 8:15AM on Sunday. This was the only day that I had to sleep in and they woke me up. I had 2 other people call me before noon", he told us. This is the biggest complaint the...

How Does My Realtor Get Paid On A Folsom Short Sale

said March 18th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – A potential home seller asked The Stop Foreclosure Institute how we get paid on a short sale transaction. So I decided to answer that question in today’s blog post. Here is how most Realtors get paid on a short sale. They make a real estate commission from the sale of the property. When the property sells a percentage of the sales price is paid as a commission. Man sellers mistakenly think that since there is no equity in the...

A Common Mistake Being Made On El Dorado Hills Short Sales

said March 9th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – I see a lot of agents making mistakes on short sale property valuation. Lenders hire a supposedly impartial third party to value the property. Many of these people are evaluating 10 properties a day. There is very little quality control and usually no one checks their work. Because of that, I always try to meet them at the home when they are doing their inspection. I explain the history of the property and why it is selling...

Folsom Short Sale Question: The File Is Going To The Investor?

said February 21st, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – The Stop Foreclosure recently received a question from Georgia. Here was her question. " When the bank says the file should be going to an investor soon what does that mean? Georgia." Here is the answer. It means that whoever ultimately owns the loan will make the decision. For example, you might be negotiating the short sale with Wells Fargo. However Wells Fargo may not own the loan. (Around 80% of all the loans they service are owned by someone...