Washington State is in the low end on the national scale of the percentage of short sales for all home sales. KCM Blog, April 27, 2012
Category Archive: Short Sales
May 30
Zillow reports one-third of homeowners underwater with mortgage
Zillow just reported that their data shows nearly 16 million homes in this country are now in a negative equity position where the house is worth less than the mortgages on the home. This number is dramatically higher than the approximate 11 million reported by other entities. Why the huge difference? Zillow professes to take into consideration ALL …
May 11
Short Sale vs Foreclosure – Common Myths BUSTED!
It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale? A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have …
Dec 30
Short Sale Vs. Foreclosure: A Short Sale Always Wins
The most prevalent question in the ever changing real estate industry that continues to permeate our times is: “Why should a seller go through the short sale process rather than letting their house be foreclosed upon?” While one cannot speak to every circumstance, one can say one thing with complete conviction: In almost all instances in which …
Oct 31
A short summary on home Short Sales
Good News: The number of short sales has increased 12.6% in the second quarter of 2011, with short sales making up about 8% of all home sales thus far this year. Financial institutions appear to be more open to negotiating sellers’ negative equity… and thus, not going forward with the foreclosure process. Reposted with permission: KCM …
Aug 30
Short Sales: Has Their Time Finally Arrived?
Banks considering short sales more favorably Last week, RealtyTrac released its Q2 2011 U.S. Foreclosure Sales Report. The report confirmed what we are hearing in the marketplace – banks are beginning to look more favorably on short sales as option to foreclosure. Short sale stats… The report dissected the sales of distressed properties in the …
Jul 13
Short sale option: lease-to-own
Question: I am considering a relocation move, and just had an appraisal done on my townhouse. It came in at $419,000, which means that I am about $15,000 underwater on the property. I don’t know if I could sell at the appraisal value, as there have been no comparable sales in my neighborhood for 18 …
Apr 01
Sales of bank-owned homes increasing, prices dropping
Distressed sales increasing In what could be an ominous sign for the still fragile U.S. housing market, the percentage of distressed properties in home purchase transactions climbed to the highest level in nearly a year in January. At the current rate of increase, distressed property transactions could account for the majority of home sales within just a few months. …
Mar 26
Distressed Properties = Patience Equity
For Buyers wanting a ‘good deal’ Most buyers want to make sure they get a ‘good deal’ when they purchase something, and purchasers of real estate are no different. That is why many decide to buy a distressed property (a foreclosure or a short sale). The National Association of Realtors (NAR) recently reported foreclosures, on …
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