Michelle Stanifer

Hi, JoAnne. Please send me your email address and I will send you the MLS details on this property, including room sizes. I would be happy to learn about the foundation, roof and windows for you if you would like to work with me as your agent. I am available this weekend for showings if you would like. Kind regards, Michelle Stanifer Russell Real Estate Services

Hi, JoAnne. Please send me your email address and I will send you the MLS details on this property, including room sizes. I would be happy to learn about the foundation, roof and windows for you if you would like to work with me as your agent. I am available this weekend for showings if you would like. Kind regards, Michelle Stanifer Russell Real Estate Services

Hi, Nicole. There are 11 rental properties available in Westlake ranging from $700 per month on up. If you contact me directly, I will send you a link so you can search them. The link will allow you to see the properties for sale or for rent. I hope to hear from you soon. Kind regards, Michelle Stanifer

Hi, Gary. I have been in this scenario a couple of times and it can be frustrating because it seems that there is no set rule for how a short sale is handled. Traditionally, when a seller entertains multiple offers, the best offer is negotiated to acceptable price and terms, the remaining offers should be offered a back up position, which is where their offers may be held as a secondary offer, in the event that the primary buyer fails to complete the transaction for any reason. Only one offer can be accepted as the primary, however. The bank may, if it determines that the primary offer is inadequate, counter-offer the buyer, even if the buyer's offer was full price with no conditions. This is typically a violation of the rules of the MLS, but short sales don't abide by these rules and for some reason, this has been acceptable (albeit, frustrating and trust crushing to many buyers). The buyer is NOT obligated to accept any counter-offer from the bank, nor is the seller, as the banks will often counter-offer that the seller needs to make a contribution as well. The buyer is free to walk away if they are not able to negotiate an acceptable offer with both the seller and the bank, upon signing a mutual release. In that event, the seller and bank would then begin negotiating with the buyer with the back up offer, if there was one, or the agent would re-activate the listing and continue marketing for a new buyer. Any time that a home in in contingent status, whether a short sale or a regular sale, the property should still be marketed and shown for back up offers. It is estimated that 1/3 of accepted offers never make it to a completed sale. I have sold homes I have had listed to back up buyers and I have had my back up buyers contacted when a primary buyer backs out. While back up buyers don't happen routinely, they do happen and sometimes they are successful! Kind regards, Michelle Stanifer

Hi, Gary. Typically, an appraiser or Realtor will prepare a comparison report showing properties that have sold within 1 year and 1 mile. Comparable properties are chosen that are most like the subject property in style, size, location and condition and then adjustments made for any differences to even them out. This gives a very good representation as to what your home would most likely bring on the open market. Other factors will influence the market value as well, such as the availability and affordability of financing, exposure and marketing. A good agent can put together a comprehensive plan that addresses all these factors. Feel free to contact me for more information. I would be happy to help. Kind regards, Michelle Stanifer

Hi, Renee. I just closed on a similar situation with another buyer. I think you should consult with an attorney if your parents intend to put the property in your name prior to your foreclosure becoming final. Your attorney may recommend a bankruptcy or other action to protect you from further repercussions, such as your current mortgage holder attaching your new property. This really is a legal question that needs to be answered by a competent real estate or bankruptcy attorney, rather than a real estate agent. The scope of our license doesn't allow us to advise you on legal matters.

I have a client who went the route that gotsinc is recommending. She bought her property from an owner for $10k cash. It was a fixer upper and she put a few thousand dollars into it to make it habitable and moved in. A couple months later, she received a foreclosure notice in the mail. How would this happen if she paid cash, you ask? The person she bought it from, bought the home from another family for a low price. Those people bought the home on land contract from another party who purchased the home with a mortgage and then stopped paying on it. All four parties are being sued and my client is out her $10k. I am now trying to help her find another home and buy it the right way with the proper protection in place so she doesn't get screwed again. You can go the way gotsinc recommends and maybe you will come out ok, but if it were me, I would much rather work with an agent who will make sure I come out ok. And we do knock on those doors and talk to people in pre-foreclosure. If I have a buyer looking in an area I pull the pre-foreclosures and use that as another resource and so do most good agents. Where do you think we get our inventory? gotsinc obviously hates real estate agents and thinks he does a better job. Everyone has their own way, but Ask the Audience works for a reason; when the majority of people do something one way, it's usually because it's the best way. Common sense rules.

Hi, Jennifer. I get this question from my customers a lot. The properties you are seeing are not really foreclosures. In many cases, the sellers are timely on their payments and are not even interested in selling. Banks always list foreclosures with real estate agents because they know what value we bring to the transaction. You will never see a bank foreclosure being sold to the general public through any other means. This means that bank foreclosures will always be listed in the MLS when they are offered for sale to the public. It sounds like you are doing your due diligence and looking at every possible source for your next home and using the expert advice of a professional. I am sure your agent will help you find a great home at a great price. Happy hunting! :) Kind regards, Michelle Stanifer Russell Real Estate Services

Hi, Shannon. There are a variety of ways to accomplish what you are asking and there are several restrictions. If you would like, call or email me directly with more details about your situation and we can talk about the different options and see which might fit your circumstances. I look forward to helping you. Kind regards, Michelle Stanifer Russell Real Estate Services