3110 E Bijou #5B  $29,900

Yes, that price is correct! This is a perfect opportunity for an investor, first time buyer or downsizer! The unit is in pretty good condition–just needs a coat of paint and maybe new carpet. The total size is 881 square feet with 2 bedrooms and one bath. The kitchen is nice sized with a separate dining space. Front balcony is great for outdoor relaxing. I don’t expect this one to last so call or contact me now if you have an interest!

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I hate when people scream in all caps but I have to make a point here! Financial experts are predicting a huge new wave of foreclosures coming on the market in 2010. We need to get ready to ride this wave!

How will this affect the average homeowner? We can expect more decrease in home values in areas where many REO sales will exist. Homes that end up in foreclosure sell for less than a normal owner-occupied home. Many times they are damaged or in need of updating. So far this year, many banks have limited the REO inventory to increase demand and prices. This just can’t continue forever. Banks must wipe these non-performing assets from their books. If you do not need to move, I suggest making plans to stay in your home and just enjoy it for the next few years. Think of your home like a stock that has potential future value. Selling it now will just cause a loss to your investment portfolio.

If you are an investor, this is a great time to be putting money into real estate. You might want to re-allocate money towards some of these REO properties. I am on the inside track to future REO listings and can help you find great deals. All cash deals are best right now but if you need temporary non-traditional financing, I have some great resources to help you.

If you are a first time buyer, you are in luck! We can find you a great foreclosure property in a wide range of conditions. If you plan on using a VA or FHA loan to buy a home, we need to search for a property that does not need major repairs. A home that needs new paint and carpet is best for these loan types. Buying prior to April 30 2010 will also give you the tax credit of up to $8000.

For home owners that might be headed toward foreclosure, there is hope. I can assist you with the sale of your home prior to losing it. Many times people never seek help thinking the situation is hopeless. It is not! Contact me right away so I can help you make a plan to help save your sanity and your credit.

Fortunately, Colorado Springs has not been as hard hit in the mortage crisis as other cities in the nation. Our market stays fairly stable. We will see more foreclosures as this next wave of loan interest rates re-set. I predict that the higher end properties will be leading the pack of the 2010 REO sales. This could be a good time to buy a larger, nicer home. Many options are out there but you will need expert advice on this ever-changing market. Contact, me today so we can make a plan to maximize your profit from the coming mortgage defaults in 2010.

This short little video has a very big message! No matter your situation, there is hope! You are not alone in your struggles. Many people are facing what seem to be impossible problems right now. There is a way out but you have to really want to succeed!

Many people are facing foreclosure in Colorado Springs right now. When you are in that situation you might feel alone, ashamed or defeated. If that is you I understand. I work with people every day who are in the process of losing their homes. They are not bad people and you aren’t either.

You need to know that there are solutions to assist home owners facing financialy difficulties that prevent them from paying their mortgage payments on time or even at all. We have programs to help you during this time. You might be eligible for a loan modification. This allows you to re-work your loan payment amount, interest rate or both. The other option might be for you to sell your home using a short sale. This is when you sell the home for much less than the mortgage amount. Banks are now willing to work with home owners to sell their homes and avoid foreclosure.

The short sale process is not for the faint of heart! When asking the bank to take less than they are owed there is a process that must be adhered to. It will require paperwork to be filled out and sent to the bank. We can help with that. Every lender has a different set of paperwork to be submitted. We have inside contacts that can assist you with speeding up the paperwork process.

The first key to starting over is to make contact with us now! We are understanding of your privacy and your situation. Please don’t think that you are alone in this! We are with you and look forward to helping.

This little condo on the Southeast side of Colorado Springs will be on the market soon. I expect the pricing to be around 30K. That’s right–30K. Heck, at that price you could buy this on on your credit card with a cash advance! Don’t laugh, I’ve done that. I once bought an undervalued home on my credit card for 30K and then resold it for 60K with no repairs!

This little unit will be a great rental property to hold on to for a while. The area is close to public transportation and there would be very little maintenance to do for the new owner.

These units go quickly when they are sold as REO’s so if you think you might have an interest, contact me now to be put on the waiting list.

Stay calm, don’t panic. It’s not the end of the world. These days you are not alone. The key is to make a plan of action before the situation goes any further.

Assess the situation

First of all, why are you late? Have you lost a job or had a major life change? Did you just have a major expense this month that left you cash poor? If a major life change has occurred, you need to get serious. Most likely a loan modification will not help you or may not even be allowed by your mortgage lender. It’s funny–you can call the lender and they will claim to want to help you but they will say “you don’t make enough money to be able to modify the loan.” Your reply will be “if I had enough money, do you think I would be making this call?” At that point you have to realize that trying to modify the loan is not the way to go. I recommend selling the house as soon as possible. This may be emotionally painful I know but it will cause much less heartache in the long run. Short term, it will be painful but that is where I come in. Much of what I do is help you manage the stress of selling your home and moving to a new place. A short sale can be a tool to get the home sold and avoid foreclosure.

What about the rest of your debts?

If you are behind on a mortgage payment, this is a good time to review the rest of your debts. Do you have too many car payments, credit cards etc.? It could be worth it to start to liquidate unneeded big ticket items in your possession. Remember, they are just “things” and “things” can be replaced. It is amazing how quickly you can raise cash by selling things on Craigslist.

Use Foreclosure ONLY as a last resort!

Foreclosure is death to your credit score. Period. End of story. Don’t let that happen intentionally. I see many people who just mentally check out of the situation and live in a state of ignorance. They somehow think that the problem will go away. They act like they had no idea that they lost their home when I show up with the sheriff and a moving crew on eviction day. If only they had called a professional, they could have been helped.

People are under the impression that you can not make payments and live for free for a long time. This will depend on your lender and their tolerance for non-performance of their loan portfolio on any given day. Usually, when someone misses one payment, the bank will order the first BPO (Broker Price Opinion) and begin the process toward foreclosure. The key is for the borrower who thinks they might be headed for real trouble to take action. Living in denial will not help you. It is inevitable that the home will be lost. Better to have a plan and avoid the stress and heartache.

If you are behind in payments or think you soon might be. Please contact me right away. I keep all of my conversations with you totally private. There is no cost for a consultation. We can make a plan to save your credit, your sanity and your time if you will only take some action.

It’s finally on the market & it won’t last! This like new Prestwick townhome offers unique downtown living! This unit is offered at $245000. These units originally sold for several hundred thousand more!The main level features an office or retail space with front street entrance, bath and kitchen. Two more upper levels are for luxury living. Ultra high ceilings in the great room. The kitchen is upgraded with stainless appliances. Large master suite with five piece bath. Upper level has it’s own entrance and attached two car garage.

Living in this area affords residents a unique lifestyle. Enjoy a latte just steps away from your own front door. Walk to work or parks. Low impact, low stress living can be had here! For your own private preview of this wonderful home, contact me now! I would love to hear from you!

Real Help!

Many Colorado Springs home owners are under great stress right now while trying to stay current with their mortgage. Home values have dropped considerable in many parts of the city leaving those who need to sell their homes in a real bind!

We Have A Solution!

Our office has cash buyers waiting to buy homes in Colorado Springs right now! They understand the pitfalls and hassle of buying short sales and are willing to wait for offers to be approved by banks and lending institutions.

What Is A Short Sale and How Can It Help You?

A short sale is a real estate term meaning a “short payoff” or “preforeclosure workout” with your lender. If you owe more than your home is worth you have two options: bring a lot of money to the closing table or do a short sale. The short sale is negotiated between you and your mortgage lender. The lender will agree to accept less than the origianl amount that is owed on the property when it is sold to a third party. This releases the borrower from the mortgage obligation and prevents foreclosure.

What Are The Benefits of A Short Sale?

The short sale is done at absolutely no cost to the home seller. The bank will agree to pay all of the real estate fees and closing costs for the seller. Our services to you are absolutely free!

A short sale can help preserve your credit. When a homeowner has a foreclosure on their credit, it can be damaged for at least 7 years. Short sales are much less hazardous to your credit health!

Stress can cause real health problems! We know that seller’s facing foreclosure have extremely high stress levels while just trying to keep it all together.  Our services are discreet and will help take the load off of your shoulders during this time.

How Do I Sell My Home With A Short Sale?

Simple–call eSaleHomes Realty now at 719-264-7777! We will evaluate your home and its present value. We will asses your situation and present a plan of action. This will allow you to understand the process and how we can help.

Feel free to leave a comment or contact us. We are here to help.

Banks are also holding what the industry calls “shadow inventory. ” This means that the bank actually does foreclose on a home but just lets it sit there for a while. They are trying to manipulate the market for some reason. Some speculate that they are still trying to show profits on their books so as to affect the TARP re-payments. Others say they are just trying to drive up the demand for foreclosed homes. I do believe that is true.

Anyone who watched the REO market as closely as I do can see that the demand for homes is there. On a rcent REO listing that I had, there were multiple offers within days of the home going into the MLS. The home had offers at least 20K over what I would pay as an investor for this home.

They’ll learn the hard way

Why are buyers doing this??? I’ll tell you why–they watch too many late night TV shows telling them they can make an easy profit in real estate. Rookie investors get emotional when buying homes. Many times they get a thrill from just being the winner of the bid but forget to really look at the numbers. They later find out that the home was not a good investment at their offer price.

Buying an REO takes skill, patience and a bit of luck! In this market it is very important to have cash to purchase a home or you will be beat out by other investors who do. You must get creative to be able to find money sometimes. I once bought a modular home with cash advances from my credit cards! It made my family a bit nervous but I was able to make 30K in a short period of time by taking that risk.

Don’t fool around–call an expert

If you want to play in the repo game, it is a must to have an agent who is an REO expert working for you. I am that agent! I knw in advance abot listings that will be coming on the market.  Don’t depend onthe old school idea of searching the MLS and calling listing agents. By the time you find the home, it will be gone to a more savvy buyer.

Contact me or leave a comment below if you want advance notice of bank owned REO listings coming on the market.

Wow! Only 80K for this cute townhome in the Southeast part of Colorado Springs. Just over 1300 square feet, this unit features 2 bedrooms and 2.5 baths. It just needs paint and carpet to be ready for a new occupant. This complex was originally built by Pulte Homes.

You’ll love the easy access for commuting to Fort Carson or downtown Colorado Springs. This complex is located near Circle and Hancock streets.

This unit is a Bank Owned REO home. It qualifies for a super fast closing for all cash buyers.

If this home doesn’t spark your attention, contact me for info on other REO opportunites in Colorado Springs! I love selling REO properties and have several large banks as my clients. I can give you info in advance of listings coming on the market.

It pays to have an REO expert working for you! Call or email me now.

719-264-7777

shawn@esalehomes.com