Virginia Short Sale Specialist / Realtor - Certified Distrssed Property Expert (CDPE)

Lowest Foreclosure Rate in 4 Years

Yahoo! posted an AP news article showing that foreclosure rate being the lowest in 4 years.   You can read the article here. 

I have noticed this pattern as well.  Brambleton is a popular subdivision in Ashburn.  In 2010, there's been 2 foreclosure listings so far compared to 17 short sale listings.  One reason is sellers are more educated about other options besides a foreclosure.  You can read more about it on my short sale resource site here.

Virginia Short Sales Specialist, Maryland Short Sales Specialist, Washington DC short sale specialist

703-662-1466

Germantown, MD Short Sale

Simon Hahn Group is listing a short sale in Germantown, MD (Churchill View)

Bank:

Bank of America

Listing Agent:

Listing agent has been doing short sales since 2007. Listing agent is CDPE (Certified Distressed Property Expert) who specializes in short sales.  

Simon Hahn - Keller Williams Realty

Virginia, Maryland, Washington DC short sales specialist

703-662-1466   

If you're considering a short sale in Germantown, give us a call.  We are Germantown / Montgomery County Short Sales Specialist / realtor.   We have also done over 15 Bank of America / Countrywide short sales so call us if your mortgage is with Bank of America or any other bank.  Nothing beats experience in this market.

Wells Fargo Short Sale Timeline

How long does Wells Fargo take to approve their short sales?  According to their official guide, about 45 days.  Most of my Wells Fargo short sales have taken about 2 months or less.  I blogged about this last year.  

The contract date is 2/3/10 and the approval date is 2/24/10.   So it took 3 weeks for approval.  Many banks can actually get the short sale approved in few weeks but the key is preparing all the documents in advance and getting the right negotiator on the bank's end. Keep in mind that Wells Fargo has separate fax number for third party authorization and short sale package.  If you don't know this, this can delay the process.   I believe I have done now over dozen or so short sales with Wells Fargo and I must say that Wells Fargo is definitely one of the top banks to work with in terms of short sales. 

If your mortgage is with Wells Fargo / Wachovia and you are considering doing a short sale short, give me a call at 703-662-1466.  I know the process inside out.

 

Simon Hahn - Keller Williams Realty

Wells Fargo / Wachovia Short Sales Specialist

703-662-1466

Bank of America Short Sale in Centreville, VA

Simon Hahn Group is listing a short sale in Centreville, VA (Compton Village).

Bank:

Bank of America

Listing Agent:

Listing agent has been doing short sales since 2007. Listing agent is CDPE (Certified Distressed Property Expert) who specializes in short sales.   

Simon Hahn - Keller Williams Realty

Virginia, Maryland, Washington DC short sales specialist

703-662-1466   

If you're considering a short sale in Centreville, give us a call.  We are Centreville Short Sales Specialist.   We have also done over 15 Bank of America / Countrywide short sales so call us if your mortgage is with Bank of America.

Fannie Mae and Freddie Loan Lookup

Need help looking up Fannie Mae or Freddie Mac loans?  Here's the links.

1. Fannie Mae Loan Lookup

http://www.fanniemae.com/loanlookup

2. Freddie Mac Loan Lookup

https://ww3.freddiemac.com/corporate/

Simon Hahn - Keller Williams Realty

Virginia Short Sales Specialist, Maryland Short Sales Specialist, Washington DC short sale specialist

703-662-1466

Fannie Mae Loan Lookup, Fannie Mae Lookup, Freddie Loan Lookup, Freddie Lookup, fannie freddie loan lookup

 

Home Affordable Foreclosure Alternatives Program (HAFA) In The News

HAFA Program is getting a lot of buzz these days.  Here's a MSNBC article on HAFA.  They actually don't mention the name HAFA but that's what they are referring to.  You can read more details about it on http://makinghomeaffordable.gov/.  If you want the summary version, you can download HAFA-Packet here.

 

Keep in mind that this is an optional program and the treasury is strongly encouraging banks to participate.  Although the MSNBC article sounds good but most short sale experts don't expect much significant change in the short sale process when this program rolls out on April 5.  In fact, most predict chaos.  We will wait and see what happens.  Contact me any questions concerning HAFA and/or short sale.

Simon Hahn - Keller Williams Realty

Virginia Short Sales Specialist, Maryland Short Sales Specialist, Washington DC short sale specialist

703-662-1466

 

 

Apple Federal Credit Union Short Sale in Leesburg, VA

Simon Hahn Group is listing a short sale in Leesburg, VA (Sycamore Hills, Loudoun County).

Bank:

Apple Federal Credit Union

Listing Agent:

Listing agent has been doing short sales since 2007. Listing agent is CDPE (Certified Distressed Property Expert) who specializes in short sales.   

Simon Hahn - Keller Williams Realty

Virginia, Maryland, Washington DC short sales specialist

703-662-1466   

If you're considering a short sale with Apple Federal Credit Union (or any bank) or if you have a home is in Leesburg (or anywhere in VA, DC, MD), give us a call.  We are Leesburg, VA Short Sales Specialist.   Loudoun County Short Sale Expert.

National Mortgage Delinquency Rate for 2009 Quarter 4

Every quarter I'll post some interesting statistics to show how big of a problem we have at hand.  The graph is provided Distressed Property Institute.  Here's national mortgage delinquency rate for Quarter 4 of 2009.

 

Unemployment Rate

According to the U.S. Bureau of Labor Statistics, the seasonally adjusted unemployment rate for January 2010 was 9.7%. The highest rate ever recorded by the Bureau was 10.8% in Nov/Dec 1982.

These are staggering numbers.  If you are having difficulty making mortgage payments, there's a much better solution than just walking away.

Simon Hahn - Keller Williams Realty

Virginia Short Sales Specialist, Maryland Short Sales Specialist, Washington DC short sale specialist

703-662-1466

 

Washington DC Short Sales Realtor

Are you looking for a Washington DC Short Sales Realtor?  Short sale is a highly specialized field.  Education alone is not good enough.  Experience is what matters.   I have been doing short sales since 2007.  Most people started to hear of short sales in 2008/2009.  If you are considering doing a short sale, talk to me first.  Ideally you want to work with an agent who has done probably at least half dozen short sales. It would be icing on the cake to find an agent who has worked with your bank(s).   You can search for the agent's short sale history by typing in the agent's name in FranklyMLS.com.  At any given time, we have 20 or more short sales listings active or under contract.  We have team of 4 agents who give personal attention to each case.   Here's the results in FranklyMLS.com when you enter my name.

http://franklymls.com/default.aspx?m=R&l=0&h=ALL&s=simon+hahn&a=ashburnhomes

Here's a new short sale listing in Washington DC.  Give me a call if you have any questions about short sale.

 

List Price: $180,000

49 Danbury St SW

Washington, DC 20032

Simon Hahn - Keller Williams Realty

Washington DC short sale specialist

11700 Plaza America Dr, Ste 150 

Reston , VA 20190 

Agent's Direct Number: 703-662-1466

Broker Phone: 703-679-1700 

 

Alexandria Short Sale in Pavilion on the Park

Simon Hahn Group is listing a short sale in City of Alexandria.

Bank:

Wells Fargo, PNC Mortgage (Formally National City)

Listing Agent:

Listing agent has been doing short sales since 2007. Listing agent is CDPE (Certified Distressed Property Expert) who specializes in short sales.   

Simon Hahn - Keller Williams Realty

Alexandria Short Sales Specialist

703-662-1466   

If you're considering a short sale in City of Alexandria or anywhere in VA, MD and DC, give us a call.  We are Alexandira Short Sales Specialist.   We have also done over many Wells Fargo and PNC Mortgage (National City Mortgage) short sale.  When it comes to short sales, experience matters!  You can look at all our listing here.  As you can see, we do plenty of short sales.