Steve Maloney's Discussions
Is short sale activity slowing down in your territory?
Started this discussion. Last reply by Joseph Alfe Oct 16, 2012. 18 Replies 0 Likes
After sending over 8,000 postcards and knocking on hundreds of doors I have gotten just 1 short sale this year in the San Francisco east bay. Last year I did over 20. Have any of you noticed a…Continue
Steve Maloney's Page
Profile Information
- First Name
- Steve
- Last Name
- Maloney
- Are you a...
- Agent
- State
- California
- City
- Danville
- My Profile
- When you are buying or selling property in today's real estate market, it's important to have confidence in your real estate professional. My commitment as your local REALTOR® is to provide you with the specialized real estate service you deserve.
In these turbulent real estate times, many homeowner’s find themselves in a position where they owe substantially more on their mortgage than their property is worth. This fact alone is tragic for many homeowner’s who are now stuck in their homes, unable to sell and move on with their lives.
For those that are in this situation and have had the added burden of a loss of income due to a change in employment or a health issue that has caused an interruption in one’s ability to make their mortgage payment, there may be hope. That hope comes in the form of a short sale.
A short sale is a sale of your property for less than what you owe the bank. This allows you to avoid foreclosure, which in itself comes with a number of benefits. By executing an short sale you will save your credit, avoid a deficiency judgment from your lender(s) and potentially avoid an IRS tax liability.
Choosing the right real estate agent to handle your short sale is very important. These transactions are extremely time consuming, require an enormous amount of attention to detail and the ability to keep very accurate records. In short it’s not a matter of taking the listing, putting on the MLS and sticking a sign in the front yard and waiting for a buyer. Usually short sales must be executed quickly – meaning the property should be in contract within days of the listing as most banks will give the seller one month to find a qualified buyer. These condensed time frames make pro-active marketing a must.
Most people facing foreclosure don’t want to leave their property. Indeed there are many programs available that may help homeowners to keep their homes. In the end, if these programs fail that objective, and the homeowner cannot qualify for a loan modification, a short sale is the best alternative.
I hope that you are able to find the answers you've been looking for here. I've provided this information so that you can make the best decision for yourself. If you owe more on your home or investment property than it is worth, I'm confident I can help you to better understand all your options.
Call for a free, no pressure, zero-obligation over the phone consultation and I'll do my best to help you understand all of your options and how best to move forward.
© 2024 Created by Short Sale Superstars LLC.
Powered by
**********************************
like buttons
Comment Wall
You need to be a member of Short Sale Superstars to add comments!
Join Short Sale Superstars