Monday, October 27, 2014
Monday, April 30, 2012
Is There a Benefit using a Third Party Negotiating Company?
I have noticed that there has been an increase by York Pa Real Estate Agents using companies to negotiate a Short Sale for them. The reasoning behind it is that the vast majority of agents don't have a clue how to negotiate a successful short sale, so use a company to do it for them. On the surface most people probably don't see a reason why not to do that. 1. it save the agent time. 2 Agent can list a short sale and think they can make a commission. 3. The agent can tell the seller he has an experienced company handling it for them.
The problem with this strategy in my opinion is that the Seller could really get damaged by this type of procedure. First of all the Seller is in a distressed situation with the home potentially going to foreclosure. The Negotiation company charges a buyer a fee that in most cases the buyer is not willing to pay. This will mean the property will get few if any showings. Secondly if an offer does come in the Negotiating company starts the process, they do not know either the Seller or the Buyer. That means they have no personal rapport with either party and with that in mind when the Lender wants a lot of information so they can make a decision on the viability of the short sale the effort on the Negotiating company is less than satisfactory. The success ratio of such a company must be much less than what a Certified Distressed Property Expert will be able to offer. What is really troubling is that when an Real Estate Agent uses this type of company basically because they don't know what they are doing in regards to short sales, but they think they will get a commission paid to them if it is successful. Unfortunately this practice ultimately pushes the Seller into foreclosure. No one wins when that happens.
If you live in York, PA and in are facing foreclosure, please consider a Short Sale and put your situation in the hands of an experienced team The Pilgrim Team of Professional Realty Associates and be confident you made the right financial choice.
The problem with this strategy in my opinion is that the Seller could really get damaged by this type of procedure. First of all the Seller is in a distressed situation with the home potentially going to foreclosure. The Negotiation company charges a buyer a fee that in most cases the buyer is not willing to pay. This will mean the property will get few if any showings. Secondly if an offer does come in the Negotiating company starts the process, they do not know either the Seller or the Buyer. That means they have no personal rapport with either party and with that in mind when the Lender wants a lot of information so they can make a decision on the viability of the short sale the effort on the Negotiating company is less than satisfactory. The success ratio of such a company must be much less than what a Certified Distressed Property Expert will be able to offer. What is really troubling is that when an Real Estate Agent uses this type of company basically because they don't know what they are doing in regards to short sales, but they think they will get a commission paid to them if it is successful. Unfortunately this practice ultimately pushes the Seller into foreclosure. No one wins when that happens.
If you live in York, PA and in are facing foreclosure, please consider a Short Sale and put your situation in the hands of an experienced team The Pilgrim Team of Professional Realty Associates and be confident you made the right financial choice.
Startegic Foreclosures Good or Bad?
Recently there has been some talk about "strategic foreclosures". Unfortunately there have been some individuals promoting to people who are in financial distress and don't know where to turn when they have fallen behind in their mortgage payments. They have taken the stand that it is O.K. to just walk away and never look behind them for the consequences that come with such a move.
Just last week Good Morning America had a special about walking away from your commitment. The analogy they used was that if it is good enough for corporate America to do so, it is O.K. for the average homeowner too. It was totally irresponsible reporting and they should be taken to task to promote such a terrible injustice to the public. They did not mention what consequences there are to individuals who actually must work and maintain households, credit ratings and personal reputations if they allow a foreclosure to happen. Obviously they did not realize or even care that with that type of reporting people could be jeopardizing their financial futures including holding on to the job they currently have or a job in the future. Corporations don't have to think about those things as it not part of the business world. So yes, corporations do that sometimes but with different consequences.
Please don't consider a Strategic Foreclosure as you might not be happy what you may end up with. Call me today for a confidential interview and we can set the record straight and get you on the right financial path.
Just last week Good Morning America had a special about walking away from your commitment. The analogy they used was that if it is good enough for corporate America to do so, it is O.K. for the average homeowner too. It was totally irresponsible reporting and they should be taken to task to promote such a terrible injustice to the public. They did not mention what consequences there are to individuals who actually must work and maintain households, credit ratings and personal reputations if they allow a foreclosure to happen. Obviously they did not realize or even care that with that type of reporting people could be jeopardizing their financial futures including holding on to the job they currently have or a job in the future. Corporations don't have to think about those things as it not part of the business world. So yes, corporations do that sometimes but with different consequences.
Please don't consider a Strategic Foreclosure as you might not be happy what you may end up with. Call me today for a confidential interview and we can set the record straight and get you on the right financial path.
Friday, December 02, 2011
York PA 2012 Real Estate Forecast
Looks like things are starting to stabilize here in York County after nearly four years of depreciation in the housing market locally. Looks like on average a 12% drop in prices have hit is this year. The silver lining in this cloud isthat prices have come down enough the the locally employed population can now afford to buy a home, especially with interest rates as low as 4%. For years as people from Maryland migrated here along with the higher wages they earned in Maryland they continued to push up the prices of homes. That trend has all but come to a halt. Maryland buyers use to make up nearly 80% of purchasers back in the pre-bubble days. It appears they are now around 12%.
Now is the time as a buyer to have a broad choice of homes to choose from at very reasonable prices and low mortgage payments. Lenders are loaning out money with as little as no money down with a USDA mortgage, or 3.5% total down paymentfor a FHA mortgage with help coming form the home seller in the form of a cash contribution. There are plenty of programs out there to choose from.
I expect 2012 to provide us with home price stabilization and even possible a slight tick up on prices. If you have been on the fence about buying a home now is the time to jump into the market.
Call the Pilgrim Team of Professional Realty Associates will we will help you to either buy or sell a home in a stress free way.
Now is the time as a buyer to have a broad choice of homes to choose from at very reasonable prices and low mortgage payments. Lenders are loaning out money with as little as no money down with a USDA mortgage, or 3.5% total down paymentfor a FHA mortgage with help coming form the home seller in the form of a cash contribution. There are plenty of programs out there to choose from.
I expect 2012 to provide us with home price stabilization and even possible a slight tick up on prices. If you have been on the fence about buying a home now is the time to jump into the market.
Call the Pilgrim Team of Professional Realty Associates will we will help you to either buy or sell a home in a stress free way.
Tuesday, August 23, 2011
Visit our Exciting New Community of Ashcombe Farms South
The Pilgrim Team of Professional Realty Associates and Lancaster Home Builders are proud to announce the opening of their newest community known as Ashcombe Farms South. Prices begin in the $170's. It is centrally located near shopping, parks, restuarants and schools. 17 floor plans are available and the builder will customize each plan to accomadate your individual needs. It is a small community consisting of 14 home sites with an average size of just under one-half acre. All utilities are underground as in the other Dover communities that we have built.
This is the fifth community The Pilgrim Team and Jerry Pilgrim has been involved in the area over the last 10 years. The other communities we have now completed were Cranbrook Acres, Ashcombe Farms, Ashcombe Farms West in Dover. Shiloh Farms is located in West Manchester Twp. We also have another community that has been quite successful in Dover Township called Fox Run Creek Estates where prices begin in the $160,s. Stop by our model homes located in Fox Run Creek Estates located off Cardinal Lane on Fountainhead Drive. We do have have a Sunday open house form 1-3pm. If you would like a private showing call or email us and we will be happy to accommodate you.
This is the fifth community The Pilgrim Team and Jerry Pilgrim has been involved in the area over the last 10 years. The other communities we have now completed were Cranbrook Acres, Ashcombe Farms, Ashcombe Farms West in Dover. Shiloh Farms is located in West Manchester Twp. We also have another community that has been quite successful in Dover Township called Fox Run Creek Estates where prices begin in the $160,s. Stop by our model homes located in Fox Run Creek Estates located off Cardinal Lane on Fountainhead Drive. We do have have a Sunday open house form 1-3pm. If you would like a private showing call or email us and we will be happy to accommodate you.
Thursday, August 18, 2011
Make Your Home Search Easy and FAST!!
Have you met a house you liked?
That may sound funny to you. But the longer I'm in the business, the more I find that homes have personalities. To really get to know a home, you need some background. You need a proper introduction to the area, the neighborhood, the features, the amenities, and even some of the challenges.
As you use the Internet to tour unlimited geography, you may need help on a local level. To that end, I can help! Im a professional introducer. Ive seen and know hundreds of homes, so as we clarify what you prefer, its easier to find a match. When you see the right home, there will be a reaction. Youll know the right home when you see it, right?
In the meantime, if there are homes on the market in York Pa and the surrounding area's that you would like to meet, Id love to arrange an introduction. Just give me a call.
Jerry Pilgrim team leader of the Pilgrim Team and Broker of Professional Realty Associates
That may sound funny to you. But the longer I'm in the business, the more I find that homes have personalities. To really get to know a home, you need some background. You need a proper introduction to the area, the neighborhood, the features, the amenities, and even some of the challenges.
As you use the Internet to tour unlimited geography, you may need help on a local level. To that end, I can help! Im a professional introducer. Ive seen and know hundreds of homes, so as we clarify what you prefer, its easier to find a match. When you see the right home, there will be a reaction. Youll know the right home when you see it, right?
In the meantime, if there are homes on the market in York Pa and the surrounding area's that you would like to meet, Id love to arrange an introduction. Just give me a call.
Jerry Pilgrim team leader of the Pilgrim Team and Broker of Professional Realty Associates
Tuesday, August 16, 2011
What is a Realtor Worth?
In today’s market what you need to be the most concerned about is what level of marketing you can expect from a Realtor. Secondly the Realtor must have the ability to negotiate not just with the buyers on your property to get the highest price for you, but also there is a high incidence of properties not appraising for the sales price on the contracts. When that happens I then must negotiate with the appraiser to prove to them that the value they came up with is incorrect and that they must change the appraisal. I have made and saved my home sellers thousands of dollars due to my experience and knowledge of the market. Please don’t get caught up on a difference of 1% broker fee when actually a fulltime agent such as me can save you thousands of dollars particularly in today’s market. If you want a fulltime professionals real estate agent in York, PA call me Jerry Pilgrim of the Pilgrim Team of Professional Realty Associates.
Friday, August 12, 2011
How to Buy a Short Sale Home the RIGHT WAY!
So you want to buy a house and have noticed that the best deals in York PA are typically short sales. Buy you've talked to people and they have told you not to buy one because they have heard stories about how someone they new wanted to buy a short sale and they waited for months and they never did buy it.
There are a few reasons for short sale not to be approved by the Lenders.
1. The Realtor who has the listing has NO knowledge of the process and shouldn't have taken it to begin with. Not only did the house did not sell to the buyer but they also may have jeopardized the homeowners chance to keep the house from foreclosure.
2. The Realtor listed the house at a very low price to get an offer from a buyer, knowing full well the offer would most likely be countered back at a much higher price which the buyer will not accept or can't accept because they cannot be approved by their lender to get a mortgage for the property at the higher price. Now the Realtor who listed the property thinks they have an approved price (but they really don't) and re-lists the house at that price and they change the price and now claims it is approved. Wrong! Once another offer comes in the offer must be approved again even if it is the "approved" asking price.
3. The Realtor does not know what the Lenders want during the negotiating process and cannot present a complete short sale package. What happens is the negotiator may totally reject the offer.
4. The Realtor may continue to take back up offers and forward them to the bank. Just in case the 1st offer falls through. This confuses the Lenders negotiator and they stop processing the offer.
5. The offer may contain many contingencies that the Lender does not want to see. There should not be any contingencies to make it a strong offer.
6. Believe it or not some real estate agents will take a listing as a short sale and not even know whether it can even be approved as a short sale based on necessary criteria. So what happens when an offer is submitted to the Lender and it will not even be considered because the seller has the ability to make the payments and nothing has changed that would keep that seller from not making that mortgage payments. The Seller just wants to sell because the house has lost equity, this is not a reason for the short sale to be approved.
Bottom line make sure if you want to buy a short sale use an experienced agent who has successfully negotiated sold short sales and helped buyers buy short sales. The Pilgrim Team is specially trained to help both Sellers and Buyers achieve their home goals. Call Jerry Pilgrim at Professional Realty Associates at 717-757-5955. You will be glad you did!
There are a few reasons for short sale not to be approved by the Lenders.
1. The Realtor who has the listing has NO knowledge of the process and shouldn't have taken it to begin with. Not only did the house did not sell to the buyer but they also may have jeopardized the homeowners chance to keep the house from foreclosure.
2. The Realtor listed the house at a very low price to get an offer from a buyer, knowing full well the offer would most likely be countered back at a much higher price which the buyer will not accept or can't accept because they cannot be approved by their lender to get a mortgage for the property at the higher price. Now the Realtor who listed the property thinks they have an approved price (but they really don't) and re-lists the house at that price and they change the price and now claims it is approved. Wrong! Once another offer comes in the offer must be approved again even if it is the "approved" asking price.
3. The Realtor does not know what the Lenders want during the negotiating process and cannot present a complete short sale package. What happens is the negotiator may totally reject the offer.
4. The Realtor may continue to take back up offers and forward them to the bank. Just in case the 1st offer falls through. This confuses the Lenders negotiator and they stop processing the offer.
5. The offer may contain many contingencies that the Lender does not want to see. There should not be any contingencies to make it a strong offer.
6. Believe it or not some real estate agents will take a listing as a short sale and not even know whether it can even be approved as a short sale based on necessary criteria. So what happens when an offer is submitted to the Lender and it will not even be considered because the seller has the ability to make the payments and nothing has changed that would keep that seller from not making that mortgage payments. The Seller just wants to sell because the house has lost equity, this is not a reason for the short sale to be approved.
Bottom line make sure if you want to buy a short sale use an experienced agent who has successfully negotiated sold short sales and helped buyers buy short sales. The Pilgrim Team is specially trained to help both Sellers and Buyers achieve their home goals. Call Jerry Pilgrim at Professional Realty Associates at 717-757-5955. You will be glad you did!
Wednesday, August 10, 2011
Free Foreclosure Avoidance Guide
I wanted to get in touch with you about some startling statistics regarding the latest distressed property trends.
In a recent study by Lender Processing Services (LPS), 6.38 million people were at least 30 days late on their mortgage payments. If you or someone you care about is feeling the stress of an unaffordable mortgage, please take the time to review the free foreclosure avoidance guide I’ve place on my website:
[insert your website address]
As a Certified Distressed Property Expert (CDPE), I can navigate a homeowner through a variety of options. I’ve listed some of the most common alternatives to foreclosures that homeowners can take advantage of to get back on the path to financial stability.
I would truly appreciate your taking the time to refer any homeowners you know that may need my assistance. I’m sure that they would appreciate it, too! The sooner they contact me, the more time we’ll have to develop a strategy to avoid foreclosure.
With gratitude,
Jerry Pilgrim
CDPE, CRS, e-Pro, Broker/Owner
Professional Realty Associates
Tuesday, May 24, 2011
Break Free From Unaffordable Mortgage Payments!
Break Free From Unaffordable Mortgage Payments!
A recent study in Nevada
The Realtors Association of York and Adams County (RAYAC) and the local Multiple List Service report for York County
Clearly, too few distressed homeowners know their options and the fallout of foreclosure. If they did, they’d soon realize that there’s nothing ‘strategic’ about foreclosure, and that avoiding foreclosure is always the best plan to create financial stability.
Millions of Americans feel alone and trapped by mortgage payments they can no longer afford. In fact, 27% of Americans with mortgages now owe more than what their home is worth. However, more and more of them are finding education on the responsible alternatives to foreclosure is helping them move toward financial stability.
Education is key. The more distressed homeowners know about solutions, the more likely they are to overcome their financial challenges. I’ve seen this firsthand.
I can help with the education part—it’s up to you to contact me!
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