Tag: short sales

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 …

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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 …

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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 …

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Short Sales: The Road Is Now Paved


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 …

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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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Who are the #1 purchasers of REOs and short sales?

#1 purchasers of REOs and short sales are first-time homebuyers. Recent survey results published by Campbell/Inside Mortgage Finance show that first-time homebuyers are the No. 1 category of purchasers for move-in ready REO and short sales.  An REO property is one that is offered for sale by a bank or lending institution. In contrast, investors …

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Another reason real estate short sales take sooo long to close

So you made an offer on a short sale home which the seller accepted. Now you are waiting for the bank to accept your offer and approve the short sale. Unfortunately, even after all these years, the short sale process is still a mystery to many. And the most confusing part is usually the role the …

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