For the first time in two years active resale home in the greater Antelope Valley is above 1,300, with active core over 900. Banks seem to be releasing some of their stockpile of REOs. Short Sale are keeping pace with the REOs at present.
With the First time buyer ($8,000) and repeater ($6,500) tax credit being extended through the end of April now is the time to make the jump and buy.
Heard on NPR “In the days before the housing crisis, the idea of a bank foreclosure filled a homeowner's mind with dread and shame. Now, with so many Americans owing more on their homes than they're worth, some people are taking a whole new approach: essentially saying, "Foreclose on me, please." It's more technically known as a "strategic default.”
You don’t need to let the bank foreclose you can sell for less than the balance of your loan and in many cases have a less significant hit to you credit score. A strategic default might make sense at first blush, however it will stick with you for years. Need to buy a car, can’t do bad credit, getting back into a home could take 10 years, Rent? With a short sale you will have a better shot at getting back your good credit sooner.
Richard & Janet - Certified Short Sale Professional Realtors
661-733-0507 OR 733-0508
Keller Williams Realty AV Serving Palmdale, Lancaster in California
www.HomesByJR.com
www.ShortSaleByJR.com
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