housing market
January 5, 2011
As you will recall in my recent blog, “What is a short sale?”, I explained the basics of short sales. Even though it is popular topic in the news, there is still a lot of mystery and gray area surrounding it. So, it’s easy for misinformation to spread. Today I want to clarify three myths I often hear. Myth #1 In a short sale situation, the bank owns the home. This is incorrect. That is the case with a foreclosure, which is when a lender has repossessed a home from the owner, as a result of continued loan default, and is selling it in order to recover their loss on the loan. A short sale is when a homeowner decides to sell their […]
December 15, 2010
I can’t tell you how many times I get this question from clients, family, collegues and various others in the course of a week. It is a relatively new concept, only really becoming popular within the last few years, and lately seems to be the situation with a good portion of my listings and those listings that buyers I am working with are interested in buying. A short sale occurs when a seller’s lender agrees to take a payoff for less than balance owed on their loan. Then they either forgive the remaining debt or ask the seller to pay back all or some of the debt, through a promissory note or cash contribution. When a seller chooses to sell […]
September 29, 2010
If you are considering selling your home the first question you must ask yourself is,”Am I serious about selling?” If the answer is “Yes” then I am sure you will want to attract buyers and receive the highest possible purchase price for your home. Pricing is crucial in today’s market. An over-priced home gives the impression that you are not serious about selling. Although, inventory is progressively decreasing there are still a lot of homes to choose from out there. Serious buyers are aware of this and are doing their homework before making their next big purchase. It is safe to say that an overpriced home will often be overlooked not only by these buyers, but by realtors. Many buyers grow tired and frustrated with available housing, […]