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6 things you need to know before trying to buy that short sale

Comparable Sales For That Short Sale House

The short sales I list in Sacramento are all priced below comparable sales, yet they are priced in line with pending sales. Why? Because short sales take anywhere from 2 to 4 months, on average, to close, and pending sales will become the comparable sales at closing.

Some short sales are priced ridiculously low. So low that the sellers' bank will never accept them. These types of listings receive multiple offers. But all is not lost. To get your offer accepted, it will need to be priced near market value. If you're not prepared to pay above a superficial price on a lowball short-sale listing, then pass.

Mortgage Amounts, Number of Loans and Lenders

Prescreen the seller!

When you are talking to sellers it definitely to your advantage knowing how to sniff out a great deal rather than a marginal deal as quickly as possible. The type of deals you should be focus on are the “no-brainer kick yourself if you let it get away” opportunities. No matter what anyone tells you there is no 100% guaranteed deal that you couldn’t possibly ever come out on the short end of. Even the most recognized real estate “gurus” out there will admit to deals they wished they hadn’t done. So your best insurance for success is finding motivated sellers that are going to offer the best terms and price.

Six Ways to Find Motivated Sellers..

Making good deals on real estate investments is the key to profiting as a creative investor. In order to do so, you need to find motivated sellers who will be willing to conform to your requirements as the buyer.

When you begin to seek out investment properties, you need to be aware of your potentials and not waste money when properties are overpriced or being sold by an individual who is not highly motivated to sell their property. Instead, you need to find what is referred to as a motivated buyer, who will agree to your terms rather than making demands of his or her own for the sale of the property. With six forms of aggressive advertisement, you can be relatively assured that you’ll have motivated sellers seeking you out in no time.

How to Deal With Motivated Sellers

Treat these sellers like any other seller who has a product to move. First, decide if you really want to buy the home.
•Ask the listing agent why the seller is selling? If it's not a viable reason to sell, you might be wasting your time if you don't want to pay list price.

•Consider a lowball offer just to see how the seller responds. If the seller doesn't issue a counter offer, you will have your answer. Or, if the seller writes a full-price counter offer, the seller might want to negotiate further. Counter the seller's counter. Don't give up.

•Wait for another price reduction. Most agents ask for a price reduction after a certain number of days from listing inception such as after 30, 45 or 60 days on market. Check the cumulative days on market time.

Influencing People

Every day we're confronted with situations where we need to influence, lead and persuade people. From persuading your children to clean their room, to convincing your boss to give you a raise. It's all about influence.

Our ability to deal successfully with people determines the quality of our business life, our family life, and our social life. Ultimately, our success in life and in any endeavor will be solely determined by how well we influence other people. Our ideas will never see the light of day if we can't persuade others why it's such a great idea.

Take Action

Enjoying a good life is common to us all. We all want the same things, good health, positive relationships, fulfilling career, and enough money to live comfortably. But, there are others that want a life of abundance and prosperity. These are the ones that have dreams of doing great things, having successful businesses, visiting interesting places, meeting extraordinary people, and having the ability to help others financially.

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Secrets behind those who succeed in goal setting

Let me guess: You want to lose weight in 2013, or maybe just eat healthier. Perhaps you want to spend less money or spend more time with your friends and family.

I know I do.

Self-improvement, or at least the desire for it, is a shared American hobby. It’s why so many of us—some estimates say more than 40% of Americans—make New Year’s resolutions. (For comparison, about one-third of Americans watch the Super Bowl.)

But for all the good intentions, only a tiny fraction of us keep our resolutions; University of Scranton research suggests that just 8% of people achieve their New Year’s goals.

Stages of behavior change.

"By consciously dealing with change in stages...it's easier to apply appropriate strategies at the appropriate times".

1. Pre-Contemplation Stage
Pre-Contemplators aren't willing to consider making a change ("I've never exercised, and I have no desire to start now").
Strategies:
Consciousness-raising activities are important--a doctor's warning about a patients health risks that are due in part to lack of physical activity; a life event such as the birth of a grandchild or one's 50th birthday; reading the Surgeon General's report, Physical Activity and Health.
2. Contemplation Stage

Look at situation in a positive way

I have an interesting challenge facing me – this could be used when a problem occurs in life or there is some difficulty, rather than looking at the situation in a negative way and thinking I have a problem, thinking of it as a challenge is a way of using positive thinking to overcome any problem.

I like the person I am – this could be used to bolster self-confidence and gain respect about yourself and the person you are, similar statements could be “I am the best”, “I am a good person” or “I have many excellent qualities.”

Filtering negative thoughts

■Filtering.

You magnify the negative aspects of a situation and filter out all of the positive ones.

For example, say you had a great day at work. You completed your tasks ahead of time and were complimented for doing a speedy and thorough job.

But you forgot one minor step.

That evening, you focus only on your oversight and forget about the compliments you received. This is very self-destructive, you owe it to yourself to be proud of the good that you do. Right at this moment you should concentrate on positive thinking.

You should absolutely take control of your thoughts and your own self-talk. You can control the situation in your mind, just visualize all the good that you did.

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