Oh my, here we are in the first week of July 2012. I remember back in January, feeling like a kid on the way to Disneyland–summer was coming!! So glad to be here. Hope you are enjoying your summer too. I live within walking distance to The American River entrance, and lots of passers by with towels, and rafts and flotation devices and gleeful voices! Love it!
Summer usually brings on the buyers and this summer differs only slightly, in that there are far less homes for sale now, as last summer. Short sales are still 60% of the Sacramento market. Still the short sale dance changes day to day, but that one pesky consistent part of the dance is still there–Short sales take two or three months to close.
I have a listing that is just about fully approved. The negotiator does not return my calls. Nor my emails, nor my faxes to her fax line. Seems the dance with this company (Bayview Loan Services) is to act very on top of it, giving me her “direct info” ( I am beginning to wonder?!), yet never recieve a reply. Until one day……
“Ms. Roe”, she says, “I have prelimary approval from the investor to process this short sale”. AWESOME! ‘Does that mean I am getting an approval letter?’, I ask. “Yes, but because of the holiday, it may be at the end of the week”, her reply.
I hope I am not posting another rant at the end of the week, that would mean I didn’t get my letter as promised. This short sale lived up to it’s alter ego–”long sale”. Have been working on it since early April, when M and T Bank started processing it, then handed it to Bayview for the workout, and Bayview started from square one again. These are the kind of stories that are really frustrating for buyers and sellers. They exist, they are real, and that’s why I write about them. Real Estate life in real time–NOT what the media reports, or the watercooler talk at the office.
I am confident this Short Sale will be approved and closed, but it wasn’t without its challenges.
Call or write. I’m always available.