Extreme Short Sale

Keller Williams Associate Broker Matt Gregory, and his Gregory Real Estate Group are pleased to share another short sale success story in Canyon Country, CA. As often is the case, it wasn’t easy! It takes some cutting edge strategy, patience and persistence! Take a look at the video and read below to find out the details.

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New Short Sale Excitement – Approximately five months ago we took a short sale listing to sell a home on Scherzinger Lane in Canyon Country of Santa Clarita, CA. The list price was 299K. Short sale expert real estate agent, Matt Gregory quickly received a legitimate offer and the short sale package was submitted to the homeowner’s lender (GMAC) for approval. So far, so good!

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Short Sale Disappointment  - A few weeks later we received a letter from the lender, rejecting the buyers offer and stating the buyer would need to substantially raise their offer, to be accepted. The lender had obtained a BPO (Broker Price Opinion) but it was over market value and too high! Understandably, the buyer walked! Now what?

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Short Sale Patience, Persistence & Smarts – This is where the real estate agent and homeowner have to be patient and persistent. The home stayed on the market, but there was very little action, because now the price of the home was over market value. Being extremely experienced with short sales, Matt knew he could submit a new offer and request a second BPO after 90 days had past, since the first BPO. Once 90 days had past, we carefully adjusted the list price to 259K and received a new offer for 250K! We then submitted second offer to GMAC, along with a carefully crafted letter requesting a new BPO!

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Patience and Persistence Pays Off – Once the new offer and letter was submitted, we waited again! A few weeks went by and we finally received notification from the lender that our new offer was approved, with a few conditions, but no deal breakers! We were all now in agreement & the buyer still wanted to buy! Everyone signed on the dotted line and the short sale went in to escrow!

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 Everyone Wins! – So, a little over five months later the transaction is complete! The home sells for 250K! The homeowner successfully avoided foreclosure, the home buyer now has their home, the lender saves money and takes another one off the books. Oh, don’t forget Matt Gregory and the Gregory Real Estate Group chalk up, yet another, successfully  completed Canyon Country short sale transaction. Contact Matt at 661-713-4799

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We all know short sales can be complex and difficult, but we continue to successfully close short sale transactions. Patience, persistence, cutting edge strategy and experience is the key. If you’re a homeowner or a home buyer, in today’s Santa Clarita real estate market, there’s a good chance you’ll need an expert agent to represent you with your distressed property transaction. Contact Certified Distressed Property Expert, Matt Gregory. 661-713-4799.

Welcome to ExtremeShortSale.com and the Gregory Real Estate Group! This morning, we researched the MLS for the Canyon Country, CA real estate market, and some folks might be surprised at what we found! Take a look at the video and read below to find out:

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The homes shown in the above video may or may not be a distressed property sale, and that’s the point! Almost 70% of all the Canyon Country homes “for sale” are distressed properties!

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As of June 1, 2011 there are a total of 305 homes on the market in Canyon Country of Santa Clarita, CA. That includes single family homes, townhomes and condominiums. Of those 305 homes, almost 50% are short sales! Here are the numbers:

• 142 Short Sale Listings (Pre-Foreclosure)
• 109 Standard Sale Listings
• 52 REO’s (Real Estate Owned)

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What’s so important about the numbers? That depends on if you’re planning to sell, or buy a home, and what your real estate needs and goals at this time.

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If you’re a Homeowner-

If you’re a Canyon Country homeowner struggling with your mortgage, considering a short sale to avoid foreclosure, it’s obvious you’re not alone. We certainly understand the stress associated with financial struggles and sometimes it’s a very lonesome feeling. The numbers prove otherwise and the truth is, you’re not alone! If you decide to short sale your home, there are a number of factors that determine your chance for success. One of the most critical steps you should take is to choose a QUALIFIED SHORT SALE AGENT as soon as possible! The sooner the better! Make sure your agent is trained and has a proven successful track record with short sale transactions. Read below to learn more. You may also contact Santa Clarita’s most sought after short sale expert real estate agent, Matt Gregory. Matt recently appeared on KHTS Radio Show with Don and Gino and Matt shared his short sale experience on the air! Contact Matt Gregory at 661-713-4799 today!

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If you’re a Home Buyer-

 If you’re a pre-qualified home buyer it’s a good time to buy because home prices are down and interest rates are good. Home buyers need to be aware, there’s a darn good chance they will be viewing and making offers on Canyon Country homes that either a short sale or REO. These types of homes are known as Distressed Properties, and this type of transaction can be complex and difficult to close. Especially a short sale transaction! Still, if you’re a home buyer, don’t let the difficulty of a short sale scare you away! Just make sure you have a real estate agent that’s trained and experienced with this type of transaction. One good way to accomplish that is to make sure your Realtor has a CDPE designation. A CPDE designation stands for, Certified Distressed Property Expert. There are other designations available, however most experienced short sale agents agree, a CDPE is probably the best! As luck would have it, our own Matt Gregory is a Certified Distressed Property Expert and has helped many friends and clients successfully close their short sale transactions. Please contact Matt at 661-713-4799.