Comments on: "SOL" Homes: Virginia MLS Foreclosures, REO, Short Sales Defined + Email Alerts http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html Tue, 02 Mar 2010 02:11:05 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: anonymous http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-4435 anonymous Mon, 15 Feb 2010 20:11:43 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-4435 Hey Frank, nice article. I am new to your website. Want to know why do banks insert the foll clause in their addendum during contract ratification "if the original buyer comes back and pays off the mortgage then he can claim the house being foreclosed upon." or something to that effect. Thanks, Hey Frank,

nice article. I am new to your website. Want to know why do
banks insert the foll clause in their addendum during contract
ratification

“if the original buyer comes back and pays off the mortgage then
he can claim the house being foreclosed upon.” or something to
that effect.

Thanks,

]]> By: FranklyRealty.com Trust Me I’m A REALTOR » Arlington Foreclosure (REO), Realtor Buys Her Bank Owned Home http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-3381 FranklyRealty.com Trust Me I’m A REALTOR » Arlington Foreclosure (REO), Realtor Buys Her Bank Owned Home Sun, 31 May 2009 04:37:09 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-3381 [...] For more on definitions about different types of Foreclosed homes or SOL homes. [...] [...] For more on definitions about different types of Foreclosed homes or SOL homes. [...]

]]> By: Anonymous http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-2435 Anonymous Sun, 30 Mar 2008 15:36:00 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-2435 Excellent blog and I have been following for sometime. With that said, I would like your thoughts on Parkside@ Alexandria Condominium. I have been eager to sell since I bought 2.5 years ago. The one bedroom Madison seems to be the favorite which I have rented (1080 sqft 1b 1b patio home)-What are your thoughts? It has been in my best interest to sell for sometime, but like most I have waiting.<br/><br/>Regards,<br/>Anthony Excellent blog and I have been following for sometime. With that said, I would like your thoughts on Parkside@ Alexandria Condominium. I have been eager to sell since I bought 2.5 years ago. The one bedroom Madison seems to be the favorite which I have rented (1080 sqft 1b 1b patio home)-What are your thoughts? It has been in my best interest to sell for sometime, but like most I have waiting.

Regards,
Anthony

]]> By: Harriet http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-2434 Harriet Sat, 22 Sep 2007 02:26:00 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-2434 Frank,<br/><br/>I search through gobs of these for my "Nova Bubble Fallout" blog (disclaimer -- I'm not a Realtor&reg :-). Besides the obvious SOL keywords "lender, third party approval" etc., look for the word <b><i>opportunity</i></b>. (If I see that word one more time I might scream). Frank,

I search through gobs of these for my “Nova Bubble Fallout” blog (disclaimer — I’m not a Realtor&reg :-). Besides the obvious SOL keywords “lender, third party approval” etc., look for the word opportunity. (If I see that word one more time I might scream).

]]> By: Danilo Bogdanovic http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-2433 Danilo Bogdanovic Sat, 15 Sep 2007 14:23:00 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-2433 The MLS makes it nearly impossible to find "SOL" properties and they don't tell you how to do it. I had to dig around through the search fields to find the correct ones to select (such as "bank addendum required"). It would be nice if the MRIS made it easier and helped us out a bit by telling us how to do it in the first place.<br/><br/>Btw...Ashburn went from 5% of the inventory being foreclosures about 6 months ago to 14% just the other day. The rest of Loudoun County is right around the same percentage. I thought that was rough until I saw Herndon's numbers...ouch! The MLS makes it nearly impossible to find “SOL” properties and they don’t tell you how to do it. I had to dig around through the search fields to find the correct ones to select (such as “bank addendum required”). It would be nice if the MRIS made it easier and helped us out a bit by telling us how to do it in the first place.

Btw…Ashburn went from 5% of the inventory being foreclosures about 6 months ago to 14% just the other day. The rest of Loudoun County is right around the same percentage. I thought that was rough until I saw Herndon’s numbers…ouch!

]]> By: Vicki Lloyd http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-2432 Vicki Lloyd Thu, 13 Sep 2007 23:02:00 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-2432 Great post Frank! I'll link to it from my blog. <br/><br/>I did many REOs back in the mid 90s, and they were all challenging, to say the least. <br/><br/>I try to avoid short sales, as so many agents don't have a clue about how to do them. I had one short sale offer finally get accepted 6 months after submitting it! By then, the buyers had bought another house.<br/><br/>I think the lenders will get better at their response times, and more realistic with their pricing as more and more hit their books. It should be very interesting to see how it all plays out in the next few years! Great post Frank! I’ll link to it from my blog.

I did many REOs back in the mid 90s, and they were all challenging, to say the least.

I try to avoid short sales, as so many agents don’t have a clue about how to do them. I had one short sale offer finally get accepted 6 months after submitting it! By then, the buyers had bought another house.

I think the lenders will get better at their response times, and more realistic with their pricing as more and more hit their books. It should be very interesting to see how it all plays out in the next few years!

]]> By: FRANK LL0SA Va Broker- BLOG.FranklyRealty.com http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-2431 FRANK LL0SA Va Broker- BLOG.FranklyRealty.com Wed, 12 Sep 2007 20:46:00 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-2431 So I've done more reading on:<br/>www.activerain.com/groups/reo<br/><br/>WOW! The horror stories that I have read. Including: <br/>1) Banks taking 60 days to respond to and offer <br/>2) Banks changing their mind days before a closing because they make MORE money if it forecloses (insurance reasons)<br/><br/>If you want these steals of deals, expect the MAJOR headaches that come with it. These banks don't have the staff to handle their problems, so they go weeks without replying and their voicemails are FULL!<br/><br/>Read that blog group and read the comments if you want to get a REAL-TIME idea of what is going on. So I’ve done more reading on:
http://www.activerain.com/groups/reo

WOW! The horror stories that I have read. Including:
1) Banks taking 60 days to respond to and offer
2) Banks changing their mind days before a closing because they make MORE money if it forecloses (insurance reasons)

If you want these steals of deals, expect the MAJOR headaches that come with it. These banks don’t have the staff to handle their problems, so they go weeks without replying and their voicemails are FULL!

Read that blog group and read the comments if you want to get a REAL-TIME idea of what is going on.

]]> By: James http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-2430 James Wed, 12 Sep 2007 17:25:00 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-2430 You know it is very interesting that there is all this talk about increase in defults and forecousures, but I agree, they don't seem to be any higher than in the past few years. <br/><br/>The falling prices on wallstreet are real, but some companies being dragged down have such little exposure, just like the economy as a whole! This seems more like a self fulfilling prophecy!<br/><br/>www.dcmetrocentric.com<br/><br/>James You know it is very interesting that there is all this talk about increase in defults and forecousures, but I agree, they don’t seem to be any higher than in the past few years.

The falling prices on wallstreet are real, but some companies being dragged down have such little exposure, just like the economy as a whole! This seems more like a self fulfilling prophecy!

http://www.dcmetrocentric.com

James

]]> By: Rebeccalev http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-2429 Rebeccalev Tue, 11 Sep 2007 21:29:00 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-2429 Thank you for this eye-opening post. It is great to read a real estate piece written truly to the consumer. So many posts just assume the buying public knows all these terms and nuances. I can attest, "We don't".<br/><br/>Thanks again.<br/><br/>Rebecca D. Levinson- http://www.connect2agent.com Thank you for this eye-opening post. It is great to read a real estate piece written truly to the consumer. So many posts just assume the buying public knows all these terms and nuances. I can attest, “We don’t”.

Thanks again.

Rebecca D. Levinson- http://www.connect2agent.com

]]> By: Anonymous http://blog.franklyrealty.com/2007/09/sol-homes-virginia-mls-foreclosures-reo.html/comment-page-1#comment-2428 Anonymous Tue, 11 Sep 2007 18:24:00 +0000 http://franktempblog.wordpress.com/2007/09/11/sol-homes-virginia-mls-foreclosures-reo-short-sales-defined-email-alerts/#comment-2428 Your SOL blog post rocked. Your SOL blog post rocked.

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