Why Do I Do Short Sales?

A few years ago, the discussions around real estate were two fold: either the bubble is going to burst or you better get in before you can't afford to buy.

In Orange County, California, our prices sky rocketed between 2001 and 2007, increasing in double digits for several years running. They always say that what goes up must come down, and so it was with the Orange County real estate market.

But, I don't think many would have believed how hard it could fall. The median home values are down over 40% in the last couple of years.

When I realized how badly the market had been hit, and how much it had changed, I took a look at what was happening to decide where I could best position myself and my company to continue to help our clients.

With my background in real estate finance and real estate sales along with my experience as a practicing attorney, short sales just made sense.

In doing short sales, I provide a valuable service to my clients by allowing them to avoid having a foreclosure on their record and their credit and potentially avoid deficiency judgments. In addition, I am able to give them some piece of mind and allow them to have at least some say in the final disposition of their home.

Although the emotional trauma of a short sale can be difficult, the emotions attached to a foreclosure seem to be much worse.

Further, when a seller is able to succeessfully complete a short sale, they may be eligible to buy a home in a relatively short 2 years, rather than the 5 to 7 years waiting period on some government backed loans after someone has had a foreclosure.

Additionally, in doing short sales, I provide a valuable service to the community. Homes that are short sales, are generally better taken care of that foreclosures. The homes are not abandoned; the sellers continue to maintain them, at least to some degree. This prevents blights on the neighborhood and the further decrease in value that can result from having abandoned home and foreclosures in a neighborhood.

In "short", I do short sales because I believe that I have experience and a professional background which makes me extremely well-qualified to do short sales for distressed sellers, and I believe with this knowledge and expertise comes a responsibility to help these sellers and to help their neighborhoods and communities.

If you are facing foreclosure or are simply upside down in your home and are concerned, please email me at [email protected] or call me at 714-319-9751 to discuss you options.

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