What is the difference between Foreclosure and a Short Sale?

A short sale is when the borrower (homeowner) is no longer able to make their mortgage payment and owes more on their home loan than what the home is worth in the current market. The homeowner will list their home with a Realtor for the current market value and the lender will take less for the home than the amount of the borrower's loan.Short sales, in most circumstances, are the first step to avoid foreclosure. A typical short sale can take anywhere from 3-6 months to close, but this can vary case by case. A Foreclosure, on the other hand, is when the lender already takes posession of the property. Foreclosure usually always comes after the property is a Short Sale. Foreclosure must be paid for in full, with a cashiers check or money order at the time of the auction/sale.

Please click on link to view list of Short Sales and Foreclosures.

What is an REO?

An REO is a Real Estate Owned property. This usually occurs after the property has gone to foreclosure but lender was unable to sell. the bank then takes posession of the property and hires a REALTOR to sell it. When making an offer on an REO property, your REALTOR is submitting the offer to the bank (lender) and it will need to be accepted by the bank.

Please click on link to view list of REO's.

Why hire a Real Estate agent?

The trick is hiring the RIGHT agent when listing your home or when looking to buy. Do the research and look for an agent who handles that specific farm area you are looking for. For the most part, they all cost about the same. Why not hire a person with more education and experience than you? We're all looking for more precious time in our lives, and hiring pros gives us that time. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics. For example, you may know that a home down the street was on the market for $350,000, but an agent will know it had upgrades and sold at $285,000 after 65 days on the market and after three times falling out of escrow. Real estate agents network with other professionals, many of whom provide services that you will need to buy or sell. Top producing agents usually always negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It's part of their job description! Please call our main office and we will direct you with a specialist in your area!

305-859-7445 or email Publications@fir.com

Does Social Media help sell homes?

The hardest part of selling your own home is getting it seen and to bring it to potential buyers attention! In this increasingly fast-paced digital age, though, savvy REALTORS are beginning to realize that it's possible to use social media to help sell a home. Social media can generate buzz about your home sale, and can help spread the news about your listing very quickly. FORTUNE has training programs that help our agents sell and promote their homes! Call one of our agents today so they can show you how social media has helped them market their lisitings!