Today my suspicions that there are still some really strange Realtors left out there, roaming the streets seeking to over price houses to get a listing. A broker friend and I were brain storming last night and he asked my advice on a house that he was pursuing for one of his buyers.
My broker friend engages the listing agent to ask a few questions about how her and the seller came to the listed price. He tells the broker that he has pulled all the sold comps in the area and that he could find any comps in the area that sold for what they are listing for based on the listing in questions square footage. To top it off the few houses in the neighborhood that did sell for a little bit higher were 500 plus more square feel larger. The house in question is around 2400 square feet.
The buyer's agent starts digging a bit deeper to see what justifies a price around $25,000.00 more than like listings in the area and more expensive than homes with a lot more square footage. When he asks the question again, "What is it about this house, that justifies such a steep increase in the listing price?" the listing agent tells him that it is because the house has "crown molding".
Don't get me wrong, I like a nice house and I have heard of sellers and agents justifying price by adding new cabinets, solid surface counter tops, wood floors, new paint to come to a total of 25 thousand dollars. But just crown molding? Yeah, that is probably not going to fly in the eyes of the appraiser.
Do you have a good story about a over priced house with a silly justification? Mabye the seller replaced all of the wall plates for the electrical outlets in the house and tacked on 5 thousand dollars for good measure.
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The Featured business for this week is Dolce Music Service
Dolce Music Service is owned and operated by the extremely talented Luke Rackers. Luke is an exceptionally gifted musician who performs professionally and composes his own music, while also making time for many of his students on a daily basis. Luke is proud of the fact that he has a student from every generation and is able to gear his teaching to their learning style. Dolce Music Service is in high demand the last 5 years, Luke has a very high retention rate for his students and if an opening does come available it is filled very quickly.
Dolce Music Service is centrally located in Denver, give Dolce Music service a call at 303-952-0268 for any music needs you may have. Luke is currently in process of putting the final touches on some new music he has composed for CD. At Dolce Music Service they are passionate about teaching and music performance. They have the time and the patience to work toward any music related goals you may have, in addition to the patience and understanding needed to serve you.
Check out the video below of the interview I did with Luke and Tonya about their business.
Steven Wright
Broker Associate/Realtor CRS, GRI, CDPE
Aspen Real Estate
stevensellsco@gmail.com
www.stevensellsco.com
(720) 989-5283 - Cell
If you or someone you know is in need of a knowledgeable and trustworthy Realtor, then please do not hesitate to contact me. Visit my website if you would like more information and to setup a time to talk with me. Don't know what the Denver Short Sale Process is? Then visit my website.
Become a Fan by clicking on "Like" on my Facebook Page. On this page you will find helpful real estate related tutorials, along with relevant news.
Steven Wright Realtor
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Today I stopped by the building site of the new IKEA that is scheduled to open in the Fall of 2011. This IKEA store is a great thing for Denver for many reasons. Not only will it be a great place to shop with quality items available to decorate your home. But, it is providing the residents of Colorado with a lot of jobs for the next year.
Take a look at the short video below to see the progress.
Remember if you or someone you know has Real Estate Related needs, please do not hesitate to send them to me for Stellar service. If you want to know more information about Denver Short Sales or the Denver Short Sale Process go to My Website or click on the links.
Steven Wright - Short Sale Expert
Broker Associate/Realtor CRS, GRI, CDPE
Aspen Real Estate
stevensellsco@gmail.com
www.stevensellsco.com
(720) 989-5283 - Cell
Congress questioned the Federal Reserve Chief Ben Bernanke regarding the 3.3 Trillion dollars that was suppose to go to American banks and such. When asked by by Congressman Alan Grayson regarding the whereabouts of the money, The Fed Chair stated that the money went to banks in Europe and other countries. When the congressman asked a follow up question about where the rest of the money went, the Fed Chairman said "I don't know". Personally, I find this appalling on many levels. She this video
Could you imagine what we could do in the US with this money? We could pay debt? Or just not borrow to begin with. We could purchase every single foreclosed home in the United States and still have 2 Trillion left over. As Americans, we should be outraged by this news. I know the tendency is to throw your hands up in the air and feel like you are completely helpless, but you are most definitely not helpless. You are a unique individual with a mind that has the ability to reason and process these types of details. This is your money and the money of future generations and we should be good stewards of what we have been given. You have a voice and you have a vote, make sure that your Representatives are reminded of that.
Steven Wright (Denver Short Sale Process Specialist)
Realtor
Aspen Real Estate- Denver, CO
720-989-5283
stevensellsco@gmail.com
www.stevensellsco.com
Format: ???
Duration: 5:50
What do you need to begin the short sale process for a Denver short sale?
Have you been denied a loan modification?
1. The first step is to give a certified and experienced Realtor like me a Call at 720-989-5283 or e-mail me at stevensellsco@gmail.com for a free consulation.
2. Next step is to schedule a time for me to meet with you at your residence to discuss the possibility of a Short Sale and what is needed to begin the process.
3 Once we agree upon a time and place, I will ask you to have copies of the following documents available for me to review and take with me for the short sale package we will be submitting.
2 months of your most recent bank statements
Mortgage statements for your house
Last 2 years Federal tax returns
1 months most recent pay stubs
Hardship letter, this letter gives some details about how you got into the situation that you are in. This could be becuase of a loss of job, divorce, health issue, death and so on. It isn't real complicated, just requires you to be honest with the lender about your circumstances.
4. After we meet and agree to working with one another, I will compile all the documents needed for the Complete Short Sale package and then submit the package to the bank with confirmation from them that they received it.
5. Next step is to get your house ready to list so that we can begin to receive offers for your house to submit to the bank. This should be done in a very timely manner and with urgency as time is of the essence. It is very important that you are always ready to show your house to prospective buyers, many showing increase the probability of a offer.
6. Once offers are received, we review the offers together and submit an offer to the bank. This will initiate an offer review and then a BPO (Broker Price Opinion). The BPO helps the bank to determine what similar houses in the area are selling for and whether or not the offer we submitted is sufficient.
7. After the bank gets the BPO back it goes into the review process with the investor. After the review process the bank will either accept your offer or counter if you are lucky. If you are working with a Bank of America Short Sale the process their short sale through Equator and my experience with that system has been very positive when working a Short Sale with them.
The above information is a good start. Please contact me 
Steven Wright
Realtor
Aspen Real Estate- Denver, CO
720-989-5283
stevensellsco@gmail.com
My Website (Go here for more detailed information about Short Sales)
<a href="http://technorati.com/claim/wz5t9rh2cm" rel="me">Technorati Profile</a>
For all of you that want to gain more info on Short Sales, there are
a group of us from across the United States who have pooled our
resources together in order to provide people with helpful and real
world information regarding Short Sales. Short Sales are very
intimidating for most Realtors, mostly because they are so time
intensive. There are many ways to be proactive so that you can have a
successful Short Sale, even in this economy. Most of you as experienced
Realtors, understand this to be true and this is why you discourage
your buyers from bidding on them because of the chances of success. As
the buyers agent you are totally dependent on the competency of they
listing agent to successfully complete the Short Sale.
Here is the link for the Short Sales Expert Blog
There are so many gotchas in the Short Sale process and I believe
that I have overcome most of them over the years by trial and error and
lots of classes and asking lots of questions. I really enjoy Short
Sales and honestly it is one of the focuses of my career. At least at
this point in the game.
That being said, take a look at the blog http://www.wannanetwork.com/shortsales
Remember that I am happy to take Short Sale referrals from those who
like to pass on them. Give me a call at 720-989-5283 and we can work it
out.
Steven Wright
Realtor in Denver, Colorado
"Short Sales Expert"
720-989-5283
stevensellsco@gmail.com
www.stevensellsco.com