5 Tips to Better Navigate the Short Sale Process

Unfortunately, with the economy's slow recovery and still-high unemployment rates, many homeowners continue to confront difficulties in making their mortgage payments. If you're one of these homeowners, know that you're not alone and know that there are several options to explore prior to foreclosure, such as a short sale. A short sale occurs when the outstanding loan(s) against a property are greater than what the property can be sold for.

As you've probably heard, however, short sales can be a drawn out and complicated process. Here are five tips to help you create a successful short sale:

1. Get comparable sale prices and an estimate of expected closing costs to help verify the current market value of your home.

2. Determine the amount of all loans against the property. Subtract the total amount you owe on the property from the estimated proceeds of the sale.

3. Contact your lender or lenders. Insist on speaking with someone in authority about a short sale. Remember that you are asking the lender to accept less than the total amount you owe, so be firm but cooperative.

4. Be prepared to submit the necessary documentation, including a letter of authorization giving the lender permission to talk with specific interested parties about your loan. Include your name, address, the loan number, and your agent's contact information.

5. Include a hardship letter describing how you got into a financial bind, and provide proof of your assets and income. You also may wish to include recent bank statements, with an explanation of any unusual deposits or withdrawals, and your broker's competitive market analysis.

Be sure to work with a real estate agent who has experience in short sales. Many agents have been through comprehensive short sale training and received special distressed property designations. Above all, the short sale process requires patience-even after you find a buyer. But for many homeowners, it was well worth it.

Go to http://www.alternativeforeclosuresolutions.com/ for more information about short sales.

Tips on Pricing for Sellers - Lexington Kentucky

Priceing is everything in this market. Especially here in this Lexingtom, KY real estate market. Check out this video on how pricing your home right in the beginning can save you time and money.Priceing is everything in this market. Especially here in this Lexingtom, KY real estate market. Check out this video on how pricing your home right in the beginning can save you time and money.

Short Sale Special Agents on a Mission

Just a cute photo of my team. The Mahon Team, aka Alternative Foreclosure Solutions, is tackling Short Sales and helping homeowners avoid foreclosure. Special Agent Mahon, Winter and Sirgo stands ready to serve homeowners who are behind on their mortgage and need assistance.

We're no Charlie's Angels... but maybe you could call us KW Angels :)

Whats up with the Mahon Team!

Hey there everyone!

It's been a while since I last posted to my blog. ALOT has happened in the past few months. My team is growing by leaps and bounds! I hired a new assistant this past April. Her name is Karen Sirgo and is long time resident of Round Rock. Her and her husband owns Pure and Simple Water. Karen brings order to my business and am very grateful she has joined our team!

Kellie Winter is the lastest addition to our team. She is our buyer's agent and has been extremely busy helping our clients find their dream homes. Kellie also owns Milani Custom Interiors. She is my goto home stager when I have a listing that needs to be staged to sell.

With all of this growth, we got an office within the Keller Williams office in Round Rock. This is a big move since I have been officing out of my home my entire real estate career. You can check out these pics as we were getting the office ready for us to move in! Can I say I HATE PAINTING!!!

Another big thing that has happened is that I am now an Affiliate Short Sale Trainer/Coach with America's Home Rescue. This is the short sale program I went through last year that revolutionize my business. It taught me how to help homeowners avoid foreclosure by negioating a short sale with their lender. Because of my success with the program, they have asked me to help teach other agents how to help other homeowners.

Well thats about it for now... sorry for not posting in a while! Take care!!

Homestead Cap - Please Read

I recived the following email recently about the homestead cap on property taxes and thought it might be interesting to you all!

You must vote in May to keep the Homestead tax cap for 65 and over, even if you are not 65 yet. If you are a Texas homeowner then this is VERY important to you. If not, I am sure this will be important to all your friends.

If you agree, please pass along to all on your email lists.

I am sending this email to everyone on my email address list who lives in Texas. I want to be sure you are aware of a constitutional amendment that will be on the ballot at the May election. It is an amendment to correct an error made by the lawmakers when they voted for a reduction in school property taxes in 2005.

When the lawmakers voted for a one-third reduction in school property taxes beginning in 2006 and to be completed this year, they forgot about the homestead exemption for senior citizens and people with disabilities.

The state constitution caps school property taxes for homeowners 65 years and older and those who are disabled. However, they DID NOT get the same reduction when the property tax cut for schools was voted on two years ago.

So an amendment is on the May ballot to correct this error.

The problem is that most voters who are younger than 65 or not disabled probably won't even notice the amendment or care.

PLEASE get out and vote for this amendment if not for yourself, then for your parents, grandparents, aunts, uncles, friends. We would really appreciate your getting the word out to all your friends and families to vote for this amendment.

The fear is that with a low voter turnout, the amendment could very well not pass.

So, please, please pass the word and VOTE FOR the constitutional amendment. Early voting will take place APRIL 30 - MAY 5 from 7 AM TO 7 PM; MAY 6 FROM NOON TO 6 PM AND MAY 7 - MAY 8 FROM 7 AM TO 7 PM. ELECTION DAY IS MAY 12 FROM 7 AM TO 7 PM.

Alternative Foreclosure Solutions is hiring a buyer's agent!

Alternative Foreclosure Solutions is hiring a buyer's agent. If you know anyone who is looking to jump head first in the pre-foreclosure short sale maket, please pass this email on to anyone you think might be interested. We are experiencing an overflow of leads that need a buyer's agents to take.

Requirements:

Sales Agent licensed in the State of Texas
Ability to work weekdays and weekends
Possess attention to detail
At least 6 months of real estate experience or 2 years sales experience
Well organized
Highly motivated

Desired:

Ability to speak Spanish
Ability to sign American Sign Language

Short sales are increasing in large numbers and we need agents to help homeonwers avoid foreclosure. If you, or anyone you know, might be interested in taking on this exciting career.... please have them send me their resume to blmahon@kw.com.

My home at 922 Berrywood Dr.

Come check out my home that I am selling! This was my 1st home I ever bought! Sad to see it go... but it has to be sold so we can move on to bigger and better things!

We are having an open house this Saturday, February 16, 2008 between 1:00pm-4:00pm.

This home is NOT YET posted on the MLS, so come check out the house before all the other buyers find out about it!

Check out this flyer to get more info on the property!

My partner and I have been renovating this home by updating the interior. It is a cute home that would be perfect for 1st time home buyers or buyers with small families. 3 bedroom/2bathroom/2 car garage, 1280 sqft, .23 acres, 2 large decks out back.... perfect for entertaining! This well established neighborhood has great neighbors! State officer lives next door! We were the 3rd owners of this property and the 2nd owners had it for over 20 years!

We will have Helen Robinson, from Pathfinder Mortgage, on hand to answer any questions regarding your ability to qualify for this a loan to purchase this home or any other home. She can also answer any questions you may have about refiancing your current mortgage to get a better interest rate or a better payment.

If you are not in the market to buy a house, come by anyway! I would love to visit with ya!!

Xmas wishes to all!

Hello there!

I made a couple of xmas greeting videos for you all. The lighting is not that great but you get the picture:) One video is in ASL for my deaf friends and family and the bottom one is in voice for all of my hearing folks out there! Take care and hope to see you soon in 2008!

I'm selling my own home!!

I have decided to sell my rental property that is located in north east Austin. I wanted to give you first peek before it goes on the market.

I plan to list it at $149,000 with some minor cosmetic things done to it, but I will consider an as-is offer. The tenant I have in there now is paying $1125 a month. He is on a month to month and has been given his 30 days to move out notice. His last day in the house will be November 30th. If anyone wants to view the inside, please make arrangements with myself.... it will not go on lockbox until the tenant is out.

The property has 3bd/2ba with 1280 sqft,Fireplace, ceramic tile and laminate throughout. AC is approximately 4-5 years old. Large lot .22 acres. Two tier deck on back. City recently annexed in subdivsion. Neighborhood well established, located convenient to I 35 and shopping at tech ridge. Tenant has kept property up. Refrigerator conveys with property. Has lockable shed in backyard.

Feel to drive by, but please do not disturb tenant. Call me for a showing.

If you refer a buyer to me that closes on the house by December 31st... I will send you a $50 gift card of your choice of stores.

Another Successful Food Drive at Teravista

This past weekend we succesfully collected about 150 bags of food from the Teravista neighborhood in Round Rock. This is my own neighborhood, so I am proud that so many of my fellow neighbors gave to this cause. Round Rock Serving Center benefited from all the food we were able to collect. If you want more infomation on the Serving Center you can go to their website at http://www.servingcenter.org/. I want to thank the following people for volunteering to make this event successful!

Mike Riggen - Real Estate Investor
Patricia Hill-Fry - Local Citizen
Marvin Heger - Real Estate Investor & Realtor
Ann Roberts - Local Citizen
Kellie Winter - Miliani Interior Designer
Olivia Gaona - Xango Distributer
Felicia Warren - Local Citizen

Cristina Miranda - Recreation Therapy Services

Powerful Opportunity!! Electricity!! Everyone uses it!

Just wanted to share with everyone a commercial that ran in Dallas on News 8. It talks about how folks like myself are making a residual income from electric bills. Some of you may know, but I am a Managing Director with Ignite. It's been a blessing for me and my family. If you would like to know more about it, feel free to check out my website at www.fliptheswitch.biz. We are having Greg McCord come next Tuesday to speak at our meeting. If you curious how folks are making big bucks on something everyone uses EVERYDAY..... Electricity..... then you gotta come check out what this is all about. Its's in Round Rock at the Wingate Conference Center at 1209 North IH 35, from 7:00-8:00. Hope to see you there! Call me and let me know if you need me to save you a seat! 512-565-5319

Amazing new treatment exclusive at Changes Day Salon in Round Rock, TX.

You guys gotta check this out! Changes Day Salon, here in Round Rock, has this new treatment that is just amazing. They use muscle stimulation to help you lose inches and tone up. I had one treatment today and focused on my abs, hips and thighs. Cumulatively I lost 1.5 inches in a 25 minutes session. I've been told that you can lose 1.5-4 inches in one sitting! That is really cool! They say its like the equivalant of doing 3 hours of execise. WOW! Check out there website at http://www.changesaustin.com/. You can see incrediable before and after pics on their website and it is amazing!!! Give them a call at 512-773-1111 if you have any questions! Ask to speak with Jamie, she is the business owner and a good friend of mine. Tell them that I referred ya:)

Please Vote FOR Proposition 6!

Do you know anyone that uses their personal car for business use? The government wants to tax small business owners on their personal vehicles they use for business use. This is unfair!

Please vote FOR Proposition 6 to make this unfair tax go away! It might not effect you personally today but it may sometime in the future! For more info go to www.VoteForProp6.org

If you are not registered to vote please do so NOW before it is too late!

The Mahon Team Launches Alternative Foreclosure Solutions!

The Mahon Team has recently launched a new part of our business..... Alternative Foreclosure Solutions. This part of our business allows us to help homeowners nationwide avoid foreclosure. If you or anyone you know is faced with foreclosure.... just know there are alternatives... and we can help! This will help save your credit, and hopefully allow you or your loved ones purchase a house again soon!

Check out our new commercial that is set to air on 10 different cable networks in the surrounding areas of Austin,TX in October. If you are not in the Austin area.... no worries... we can help you too.

SiSI... A new technology to convert hearing speech into sign language??

A friend just sent me an email with a link to an interesting article on the web. It seems IBM is developing some technology to covert hearing speech to sign language on the computer. Has anyone seen this yet?

Have you recieved notice of the new laws that go into effect September 1, 2007? Here a couple I thought were interesting. You can find a more exhaustive list on the Texas Department of Safety's website.

SB 502 increases the minimum liability coverage amounts for automobile insurance. The first increase applies to motor vehicle liability insurance policies issued or renewed after January 1, 2008. A second, larger increase in motor vehicle liability insurance coverage takes effect on January 1, 2011.

HB 1355, known as Lillian’s Law, requires all dog owners to properly secure their dogs on their property. The law provides that a dog owner can be held criminally responsible if the dog causes serious bodily injury or death at a location other than the owner’s property in an unprovoked attack during which the owner by criminal negligence failed to secure the dog. It exempts many dog professionals (including peace officers) who deal with dogs on a regular basis from the bill.

SB 369 prohibits the use of blurring or reflective matter on a license plate that significantly impairs the readability of the state name and license plate numbers and letters; prohibits the use of material or an apparatus that alters or obscures one-half or more of the state name; and prohibits using material that obscures the license plate number or plate color.

Hope you all are doing well!

Lake levels at Lake Travis still VERY HIGH!

What do you do this weekend? I went out to my dad's property on Lake Travis. With all of the rain central Texas has been getting since the end of March, I have not spent much time out there... that and because real estate has been so busy this summer... Anyway, my dad has been real busy getting his water system in. This weekend my dad needed help building a shed for his pump.

My partner, Cristina and her father are such the handy at that kind of thing, they came out and helped dad build it. I, on the other hand.... sat back and read the rest of the last Harry Potter book. I'm not going to spoil it for any of you that haven't read it... but I will tell you that it is a GREAT book and it keeps you hanging all the way to the end.

Now for those of you who have been out to my dad's place.... you see in this picture where that dock is? That is where the water is normally... but with this flood... most of the land below is still underwater. It's amazing! We are waiting for LCRA to start letting some of the water out so we can get down there to enjoy the lake.