New York Taxes?

New York get ready!  Gov. David Paterson has a plan to close a $15.4 billion dollar budget cap.  His plan is a simple one, cutting city costs including public school aid by $698 million and the ellimination of over 500 state jobs.    Further, his plan calls for 137 new  taxes.  His plan is to increase the taxes on beer, wine, none-diet drinks, Itune downloads, Satellite TV and much more.  Paterson’s goal is to raise $121 billion dollars simply by raising your taxes, adding new taxes and cutting city services.  Is this a plan you want to live with?

Tired of such tax plans, tired of being over taxed?  Wouldn’t you like to live in a State that offers you more purchasing power, lower taxes and a great life style?  Hampton roads offers everything from boating to large Federal and State parks.  Spend the day relaxing on the sandy Virginia Beach ocean front,  jet skiing on the bay, shoppiing at any of the areas malls and so much more.

If  Virginia  is a city that  you would like to consider as your new home, I am available to discuss your options.

Sean Schroeder, REALTOR
The Real Estate-XChange
757-839-3954

517 Baylor Ct. Chesapeake, va. 23320

Short Sale Questions ( FAQ )

Throughout the day I am contacted by home owners who are, or soon be, behind in their payments, unable to sell their home because they are “upside down”  or are facing family issues such as a divorce or loss of a job.  These home buyers, like you are looking for options.  One option is a Short Sale, this is a list of questions that I receive and some general answers to those questions.

1. What is a Short Sale?

   A: Simply put a short sale is when you the home owner offers your home for sale below what you owe on it, asking the bank to take a loss.
    

2. I am not behind on my payments, but I can’t sell my home because I owe more than the house is
   worth.  Will the bank approve me for a short sale? 

   A: We can list your home below what you owe on it making any purchase agreements “contingent”upon the banks approval. There is no such thing as “Short Sale approval”
   

3. When I purchased my home, the bank required PMI how will this affect a short sale?

   A: First the bank required the insurance to protect their interest in the property not to protect you.  Once a ratified contract is received it is sent to the bank for bank approval.  The bank will not give permission until the Insurance Company approves the short sale.
   

4. How will  short sale affect my credit score?

   A:  In general if you are behind in your payments these rolling lates will show up on and lower your credit score.  It is easier to recover from a short sale than it is from a foreclosure.

5. I recently missed my mortgage payment, and know that I will miss my next payment as well.  How long do I have before the bank forecloses on my home?

   A:  The foreclosure processes can begin at anytime that the bank feels it is necessary.  However, generally it can take up to 6 months before the bank actually does foreclose.  In some cases by listing the home, and actively working to find a buyer, the bank may be less likely to foreclose.
   

6. I am ready to get out from under my house, what should I be prepared to do to?

   A: Your agent will ask you for your financial information when you have a ratified contact including pay stubs, bank statements, purchase agreement, listing agreement and most importantly a hardship letter.
   

7. I am living paycheck to paycheck and don’t plan to walk away from this sale with anything.  How can I afford to pay your brokerage fee?

   A: First as a short sale, the bank will not approve the sale if you receive any funds or contribute any monies to the buyer.   Further, any existing escrows or monies owed to you from the taxes will go directly to the bank.  As for the brokerage fee, this is paid by the bank. 

8. Do I have to claim the short sale on my taxes as income?

   A: Once the bank approves the short sale, they issue a letter outlining the conditions of the short sale.  Due to the fact that the bank is losing money, and the money was loaned to you the home buyer, you will receive a 1099C for the deficiency
   

9. Will I still be responsible for the property taxes?

   A: The home sale must transfer free and clear of all liens, including taxes.  Yes, you will still be responsible for the taxes, unless the bank has agreed to bring them current.
   

10. How long should it take for my home to sell? 

    A: The great news is that because you are selling your home short, we can price and market your home to a larger audience and to a group of home buyers that are looking for a great deal, or as I like to call them “wholesale” buyers.  This will result in a quicker sale, after all price is King!  
     

My name is Sean Schroeder, a REALTOR and member of the National Association Of REALTORS ( NAR).  My job is to help you, my client, with your real estate needs. In this case, my job is to help you sell your home, to help you start over, everyone deserves a second chance.

If you find yourself in a situation where your mortgage payments have gotten out of control due to interest rate adjustments, loss of employeement, family changes or other situations please call me today to discuss your options and how I can assist you. 

Sean Schroeder, REALTOR
The Real Estate XChange
757-839-3954

seanschroeder@757realproperty.com
www.HRSHORTSALES.com

The Real Estate XChange 517 Baylor Ct, Chesapeake Va. 23320

Chesapeake Virginia – Battle of Great Bridge

Thousands of motorist drive past a historic land mark without ever knowing it is there. The battle of Great Bridge occurred on December 9, 1775. When British Royal governor Lord Dunmore moved his troops from Norfolk to Great Bridge to await the American forces. In a brief and decisive battle the British forces were pushed back to Norfolk by the American forces. This action occurred not far from where the Chesapeake Municipal Center is located. On the inter coastal water way, tucked in a clearing, were a museum will one day be built, stands a monument to this battle.Here of photo of Monument:

For more information visit 757RealProperty.com

Sean Schroeder Real Estate Agent

About Me: Sean Schroeder, Agent with The Real Estate-Xchange

I am a life long resident of the Hampton Roads area. Obtained my real estate license in 2004.  Since obtaining my license, I have been involved in a variety of real estate transactions including Commercial, Residential, Property Management as well as helping homeowners avoid foreclosure.

What sets me apart from the other agents in the area?

Simply put it is my Approach! I want to provide over-the-top customer service. I am able to provide custom packages to my clients, kind of an ala carte approach, check out our testimonial. All that I ask from anyone interested in buying or selling a home in Hampton roads is that they give me only 30 minutes to sit and talk about their needs.

Visit 757realproperty.com for more real estate information

Sean Schroeder, Virginia Beach Real Estate Agent

 

Sean Schroeder, REALTOR
The Real Estate-XChange
517 Baylor Ct.
Chesapeake, Va. 23320

757-839-3954
seanschroeder@757realproperty.com