Have to Sell Via Short Sale??

Looking to Put the Pieces Together?

Here is a quick synopsis of how to get your home sold via a short sale. Each and every bank is different, so this is by no means a comprehensive list. These are also not in order, because it all should happen simultaneously:

1. Call your lender that is going to be affected (this could be a first and also a second loan) and ask for the loss mitigation department. Get full contact information of someone that can help you. Tell them about your situation and ask for a "short sale package" or a "hardship package." Even if you are not behind on payments yet, this is an important first step, as it serves as a notice to the bank and sets up expectations.

2. Complete that package and include a hardship letter, describing your situation and why you need to sell your home and why they will need to agree to a short sale. Words like "I'm sorry," "Beyond our control," "we are out of options," "what do you want from me to help," "we will cooperate fully" have gone a long way with others in the same situation in getting things smoothed out with the bank. Include any documents they require with the package, like pay stubs, tax statements, financial documents, listing agreements etc. etc. This whole assortment of documents should be sent initially and also when you get an offer for the home, as they are frequently misplaced or lost by the bank.

3. Get the house listed in the MLS as soon as possible, at a price point that is attractive enough to get some serious interest and offers. This might be at the low point of the houses' value range, given today's housing market and downward pressure on prices. Ultimately the bank will need to get Broker Price Opinions and Appraisals at different stages (especially when there is a contract,) to help justify the short sale approval. So you can't just give it away or they won't approve the deal anyway if they think it could be sold for a much higher amount. They have to weigh out the costs of letting the home go to foreclosure, which may or may not be a more expensive option for them.

4. Work closely with a local Realtor. Provide all the vital information for the situation, like loan numbers, lender contact info, how many payments are you behind, etc. etc. This will save time and enable that Realtor to successfully communicate with others regarding the situation.

5. Your Realtor will order an O&E, TBD and HUD-1 statement from a Title Company for the bank, since they will want to see those documents and see the costs involved in selling the home to get to the bottom line. Your Realtor will also communicate with the bank and provide a CMA and listing history for the bank, to help paint the picture of the local market for them.

6. Check the tax rules on short sales. Your Realtor is not a tax advisor. There is pending legislation regarding this, and only a tax advisor will be completely on top of it. You may or may not be responsible for taxes on the loan deficiency.

Throughout this process it would be important to document all conversations with the bank.

The odds of success increase as long as the bank has all of the information they need to approve the sale. The goal is to shorten the response time that it takes for the bank to approve the short sale once an offer has been presented. Too many times the delay kills the deal entirely, and the buyers move on to something easier to buy. That is the worst thing that can happen and must be avoided.



This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, and metro Denver Colorado real estate property listings. Search the Denver MLS directly for properties and homes at http://www.coloradodreamhomes.info/ and access a huge real estate resource at http://www.coloradodreamhomes.net/

Windows That Heat?

Now THIS is something new and innovative!

Who would have even imagined the possibility? I can't believe they would be cheap to operate though. You would think they would have to be on constantly and the minute they were off it would instantly get cold. Its clear that they would make a remarkable difference in a room or whole house. I wonder how much less you would have to run the furnace?


Carl Brahe, CHI, CCI


A Denver company, Radiant Glass Industries LLC (RGI), has introduced an innovative product: Power*e™ Windows with built-in, low voltage radiant heating. RGI adapted common technology used to keep freezer glass in grocery stores from frosting to produce a new window option that solves many of the problems associated with traditional windows.

Windows are the source of the greatest heat loss in most buildings, as much as 50%. They provide about the same insulation value as a sheet of newspaper (R-1) for each glass pane and/or air gap in the window. Radiant heat windows solve that problem by turning the window itself into a room heater. The inner glass in a two pane system is heated to a preset temperature. The outer pane may be 30° F while the inner pane is 100° F. The inner pane will feel warm (a maximum of 115° F) but not hot. Ordinary electric heater controls are used set the inner temperature.

RGI claims their radiant heat windows are the most efficient electrical heating units on the market. The heat provided by radiant windows may sufficient to provide total room heating. Radiant windows can make a room feel more comfortable at lower temperatures than forced air heating requiring less energy use.

Radiant heating windows are like ordinary dual pane windows in most ways except that they have low voltage (50V DC) heating built-in. Glass windows radiate heat in a manner similar to light. Warmth is transmitted through the air to the surfaces in its path. The objects in the room act as a heat reservoir retaining warmth and re-radiating it to occupants and other room surfaces.

Radiant heat is common. We use steam, hot water and electric heating elements in radiators, baseboard units and in floor piping. The advantage of using windows as a radiant heat source is the greater room area windows radiates to. Since the radiant area is greater the heat source can be cooler to produce the same comfort level with radiant heat windows compared to baseboard or radiator systems.

This also allow the use of low voltage DC power making it possible to heat directly from solar PV or wind/water generators. Windows heated with 120V AC are available from other companies. The use of low voltage makes this product safer, less expensive, more reliable and more efficient.

The manufacturer claims:

Power*e™ Glass windows:
* stop building heat loss through window glass
* improve comfort by increasing the radiant heat in the interior space
* use comparable or less power than other conventional heating systems
* reduce the size and need for other heating systems
* enable lower room temperatures by increasing the radiant heat in the interior
* eliminate condensation and fogging on windows
* insulate the interior space against outside heat during warmer months
This technology does open new possibilities for the use of glass and this new heating source in building. Radiant heat windows can be installed in new construction or retrofitted into existing buildings. These windows heat quickly enabling zoned heating and can be used in interior walls, architectural features, art work, cabinets and other places glass and heating appliances have not been used before. It may also provide an easy solution to problem heating areas.
Power*e™ Glass windows are custom made and cost about twice as much as conventional windows. They look like ordinary windows. No heating elements are visible and wires hidden in the frame. Windows come in clear, tinted, patterned, opaque or other glass. Standard frames are used and can be made of wood, vinyl, fiberglass, metal or other materials. These windows are available from Accent Windows.
Testing at Kansas State University concluded that:
* Buildings and building perimeters will be more thermally comfortable with Power*e™ Glass windows than with other conventional heating systems.
* Compared to other systems, these windows did not significantly increase energy consumption and in fact may significantly reduce energy consumption.
* The insulating and heating effects of the windows thermal barrier combine to make these windows 100% efficient.
* Theses windows stops 100% of conventional building heat loss through the heated windows.
* Substantially all of the radiant energy heats the interior space - regardless of the outside temperature.
* The need for other heating systems is reduced or eliminated.

Copyright 2008 all rights reserved


For many more resources for property owners/buyers/sellers and professionals go to: www.inspection-perfection.com

Inspection Perfection, Inc - 303-816-5556
info@inspection-perfection.com


This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, and metro Denver Colorado real estate property listings. Search the Denver MLS directly for properties and homes at http://www.coloradodreamhomes.info/ and access a huge real estate resource at http://www.coloradodreamhomes.net/

Smokin Hot Price!

$259,900

Offering a large and comfortable floor plan, this beautiful 2 story home features all 4 bedrooms up, 3 baths, and 2450 finished square feet. Set on a nice lot that only has an expansive open space between it and a large community park in the distance, this location not only feels open but very private as well.

This home boasts an eat-in kitchen with rich Maple cabinetry. It opens into the family room with gas fireplace (with inset above the mantle that would be perfect for a 50” plasma TV,) and surround sound. Unique to this home is the charming 2nd level, which provide a spacious area as its core, that could be flexible in its uses, whether it be an office, rec room, or just a third living area where the kids can relax and play in and you don’t have to constantly worry about cleaning it up everyday for company. In addition you will find the laundry room upstairs, where it belongs of course.

Other Amenities Include:

-Security System -Five Piece Master Bath
-Fully fenced yard -Two car garage
-Formal dining area -Walk to the Middle School
-Air Conditioning -Neutral throughout
-Full 1056 SF walkout basement

Go to http://www.coloradodreamhomes.net/ for a virtual street-level view of this home!

This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, and metro Denver Colorado real estate property listings. Search the Denver MLS directly for properties and homes at http://www.coloradodreamhomes.info/ and access a huge real estate resource at http://www.coloradodreamhomes.net/

Get it While it's HOT!

Terrific Bi-Level With Huge Back Yard! Remodeled Kitchen*Beautifully Updated All Appliances Included*Deck & Flagstone Patio*Walk To Park With Pool & Water Park.


See the street-level virtual tour at http://www.coloradodreamhomes.net/


This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, and metro Denver Colorado real estate property listings. Search the Denver MLS directly for properties and homes at http://www.coloradodreamhomes.info/ and access a huge real estate resource at http://www.coloradodreamhomes.net/

Seize the Opportunity!

Great new listing! Brand New Carpet and Paint*Gourmet Kitchen W/Double Oven*Full Basement!*Large Covered Patio W/Swing*Surround Sound*Cul De Sac* Epoxy Garage Floor*Main Floor Study*Neutral Colors*Clean and Bright*Walk To Park and Elementary


This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, and metro Denver Colorado real estate property listings. Search the Denver MLS directly for properties and homes at http://www.coloradodreamhomes.info/ and access a huge real estate resource at http://www.coloradodreamhomes.net/