Tack Liquidation Sale in Bay Shore on Long Island on 2/28

This came to me through one of my contacts on LinkedIN, Amy Rae Terenzi (Stephenson).  Pass it on:

"Hi Everyone, I am not sure if this is the best place to post this, but my friend has recently had a baby and will no longer be running her mobile tack selling business. She is have a liquidation of all her inventory out of her home on Saturday 2/28 and I thought anyone local might be interested.

Here is in the info:

TACK AND RIDING GEAR LIQUIDATION SALE

SATURDAY, FEBRUARY 28
9AM-3PM
Bay Shore, NY

Value Tack has decided to take a break from the mobile tack shop scene...what does this mean for you?

Blankets, saddles, brushes, bridles, bits, pads, wraps, shampoos, buckets, helmets & more...way too much to list, so come and check it out!

Come to our Open House Liquidation Sale on Saturday, February 28 and check out what is left--at clearance prices!

All items will be marked down...offers will be considered for saddles and other big-ticket items...over 75% of our inventory must be sold, so please take advantage!

Call for directions and details--516-458-5706

Appointments are also available for other times. Tack businesses, barn owners and organizations welcome--bulk sales and lots can be arranged. Please call for details."

What is a Short Sale?

A short sale is one among many strategies to avoid foreclosure.  For many homeowners it is a last ditch effort to sell a house at market value before it goes to sheriff sale.  It helps the seller stay out of foreclosure while the buyer gets a home that is priced by a motivated seller at a price point at or below market value. 

Usually a short sale cannot be negotiated until there is a contract to purchase the home.  Banks usually will not negotiate a short sale unless the seller has missed a payment or two.

A short sale is often seen

1. in situations where the seller has not lived in the home long enough to have built up much equity,
2. or in situations where the seller financed the home without a large down payment,
3.  or in situations where the seller has taken out a second mortgage and the "drive-by appraisal" may have been somewhat inflated.  

Whatever the cause, in a short sale the homeowner owes more on the house than he can hope to sell the house for, especially after paying closing costs.  In lieu of a short sale, a seller can opt to take a check to closing or work out some kind of a payment plan with his lender in order to be able to sell the house and avoid foreclosure. 

In a short sale situation the buyer shops for a home and gets loan approval just as when purchasing any other house.  The seller negotiates the best deal possible.  Usually the seller has already given up and doesn't care how much the house is sold for, as long as it is enough for the bank to approve the deal.  The buyer and seller both sign an addendum which amends the contract so that the bank will have a bit of time to approve the purchase contract.  Then everybody waits and waits and waits.

 There is great disparity between the spirit, philosophy, theory, and intent of a short sale on the one hand, and the reality and practice of short sales, on the other hand.  The reality is that the banks can make more money if they let HUD, Fannie, and Freddie take the house back, and so the banks have been reluctant to help out the homeowners by negotiating with the realtors.  It's just too much trouble for the banks, and so they take their sweet time and frustrate everyone.  

While the banks are dawdling, the buyers get squirrelly and start looking at other houses.  In the end, 85% of buyers back out before the bank finally approves the deal.    

Most realtors have been there and done that, but have refused to buy the tee shirt.  Many have sworn never to get involved in another short sale again.  Why?  Short sales are a lot of work and provide little satisfaction or profit.  Most of us doing short sales feel like we are throwing the proverbial star fish back into the sea.  When we are successful in closing a short sale, all parties involved can feel joy at having helped a family avoid foreclosure and can truthfully say, "It made a difference for that one family." 

 Unfortunately the now famous October bailout by the federal government has only accelerated the foreclosure of many homes in Tulsa County.  I could give you many ugly examples to illustrate this statement.
   

The bailout has assured that the banks were taken care of, but unfortunaely home owners already in the foreclosure process have been shown no mercy.  The banks have had no motivation to help homeowners because the loans had been guaranteed or insured by the government. 
 

In my experience the banks that held their own paper without government involvement have been much easier to negotiate with and seem to be a bit more responsive to realtors' efforts to negotiate a short sale.

 So my suggestion is that if you are considering the purchase of a short sale, please only make an offer on a house that you really like.  It is unfair to the seller to keep the house off the market only to back out two months down the road.  For you see, the foreclosure clock keeps on ticking while the banks are sitting doing nothing or pretending that they are doing something.

 Sometimes the reason a short sale fails is because of the presence of a third party lien.  These seem to shut down all possibility of negotiation.  These liens do not show up in the county court records, but are attached to the house in the property records in the county clerk's office.  Usually the homeowner is unaware that such a paper exists in their records at the county clerk's office.  An extra run to the court house to the clerk's office can help everyone involved.  A seller can get around these liens by consulting a good bankruptcy attorney and getting a stay of bankruptcy prior to the sheriff sale.  

 In short, a short sale is a good opportunity to get a great deal on a house and help a family stay out of foreclosure.  I just beg you to be sure you love the house, because it is devastating for a family facing foreclosure to have a buyer back out.  I barely stop short at saying that a buyer has a moral obligation to buy a house they have contracted for, but I really can get up on my soap box on this one.  

Buyers:  Shop carefully, deal carefully, and know that you want the house.  Then go for it  - and stay with it.  Good luck and happy house hunting.

Sellers:  Find someone who has some knowledge and experience in dealing with foreclosures who can help navigate you through the short sale process.

 I hope this helps.

 http://TulsaRealEstateWeb.com

http://NortheastOklahomaRealEstate.com

http://BixbyOklahomaRealEstate.com

http://dsolano.homesandland.com

Hilltop Retreat in Northeast Oklahoma

Escape to your own hilltop retreat within an hour of Tulsa, whether you drive to work via Route 66 or the Will Rogers Turnpike. It’s also an easy drive to Bartlesville via Highway 60. Of course you can easily get to Adair, Chelsea, Claremore, Pryor Creek, and Vinita. Although you are in Craig County, you are right across the line from Rogers County and Mayes County. The Grand Lake of the Cherokees is within a half an hour too. You have your choice of many routes and yet once you are home the world of business seems so remote. There are no neighbors to disturb you.

Here you can watch the sunset from your front porch with no traffic noise, only whispering breezes. Each morning you can enjoy your first cup of coffee on your screened-in porch accessible from both the master bedroom and the family room. As the rising sun peeks over the distant foothills of the Ozarks, the plain below you spreads out like carpet, dotted with barns and sheds amidst the pastoral scene of rolling meadows, glistening ponds, and patches of woods. The cows and horses feed quietly in the fields below you, oblivious to your presence. A flock of wild ducks swims on your pond. You plan a summer garden while the birds dive in and out of the bushes. Perhaps you will plant an orchard on the south slope to the right of the driveway. You make a mental note to buy a sled or toboggan for the next snow. Not a sound can be heard from the tiny trucks inching across the plain. Morning fog almost obscures the grain elevators in Afton to the northeast and the towers of the power plant in Chouteau to the south.

Back in the house you make breakfast in the large country kitchen with beautiful knotty pine cabinetry. This morning you eat at the breakfast bar rather than at the big table adjoining the family room. You're pleased with the wonderful kitchen with it's pantry and appliance garage. You just love your home with its 3-bedroom split floor plan featuring two master bedrooms.  There is a view from every window. You even found north light here for painting and drawing. It is so pleasant in every direction.

As you clean up the kitchen you gaze through the little greenhouse window over the sink and look across the screen porch; you are mesmerized by the view and wish you didn’t have to go to work; but then you remember that you have internet access and you really don’t have to leave the house.

So you play a bit first; you retreat to your workshop in it’s own room off the garage and you tinker. After that you open the third garage door at the back of the garage and you hop on your ATV for a little spin, postponing real work for just a little longer. You inspect your domain, your private kingdom. You wonder if you will get three cuttings of hay this year or just two, remembering that you average about 36 round bales with each cutting . You stop off at the front of the house and go through the little picket fence to visit your flower garden.

Before you put your ATV away, you wash it along with your car right in the garage because you have a floor drain and a spigot inside the garage. You go back into the house through your enormous mud room where you have your washer and dryer along with a big country sink.

Now you take a leisurely bath in the whirlpool tub and gaze out the window at your private view of the gardens and fields below you.

Then you finally decide to work at your big kitchen table at one end of the country kitchen. You like to face eastward so you can look through the family room and out the windows to the world beyond. It is so relaxing to live here. You feel very blessed.

Approximately 24.75 acres. Fee simple: all minerals are included.

 http://TulsaRealEstateWeb.com

http://NortheastOklahomaRealEstate.com

http://BixbyOklahomaRealEstate.com

http://dsolano.homesandland.com