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It's
a Great Time to Buy or Sell a Home!
INTEREST
RATES NEAR RECORD LOWS
Today's interest rates are comparable to 40-year lows, offering homebuyers
a once-in-a-lifetime opportunity.
POSTIVE
OUTLOOK
The Federal Reserve recently said that housing prospects are looking
up. Most of the negatives in housing are probably behind us. The fourth
quarter should be reasonably good, certainly better than the third quarter.
REAL
ESTATE IS A GREAT INVESTMENT
Homeownership is a safe, secure way to build long-term wealth. The national
median price of homes bought ten years ago has increase 88%. The number
of US households is expected to increase 15% during the next decade,
creating continued high demand for housing.
DON'T
DELAY
Right now may actually be the best time to buy or sell a home. Call
me today to improve your financial future!
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What
is a Short Sale?
A short
sale in real estate occurs when the outstanding loan is greater
than what the property can be sold for, and your lender agrees to
accept less than the total owed. This is a basic outline of what we
do for you.
1. Verify the value of your property.
2. Add up all the costs of selling the property by providing an estimate
of closing costs.
3. Determine the amount owed against the property. This will be the
total of all loans against the property.
4. Do the calculations. Subtract the total amount owing against the
property from the estimated proceeds of the sale. On a short sale,
this will be a negative number.
5. Contact the lender(s). I will find the specific department or manager
to inform them of your situation.
6 Ask the lender what its procedures are for a short sale. Some lenders
are willing to work with you, others will look to the agents involved
to see it they are willing to make concessions to make the transaction
happen. Still other lenders will tell you that your debt is your responsibility,
one way or the other.
7. Sell the property. This
is a very complicated process! You must carefully choose the people
who will represent you in the sale of your home. It is important to
use a Realtor® with experience in foreclosure and short sale procedures!
Call us before it's too late!
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