Do You Need Help with a Short Sale?
Hello Hampton Roads,
Do you need help with a short sale?
According to the NAR (National Association of Realtors), 5.3 million homes are still under water and Hampton Roads has its share. In our local market (the 7 cities), a recent search in the MLS today, shows that there are currently 1081 short sales listed for sale compared with 6993 non-distressed homes for sale. The good news is that the number of distressed sales is declining, but we are not entirely free from it.
A short sale is a foreclosure alternative that many homeowners have found it to be a viable option if:
A successful short sale allows homeowners to move on with their lives.
It allows homeowners to avoid having a foreclosure on their record which affects credit scores as well as the ability to buy another home in the future --it can take up to 7 years with a foreclosure and as few as 2 years with a short sale. Also, typically many of the fees associated with closing a short sale such as commission, appraisal, and settlement fees are generally paid for by the seller's lender.
If you are considering selling your home as a short sale and need help with the process or have questions in general, please feel free to contact me. I am happy to be of service!
Thanks for Reading,
_________________________
Serving your Hampton Roads and Virginia Beach Real Estate needs. Liz Schuyler on Google+
Do you need help with a short sale?
According to the NAR (National Association of Realtors), 5.3 million homes are still under water and Hampton Roads has its share. In our local market (the 7 cities), a recent search in the MLS today, shows that there are currently 1081 short sales listed for sale compared with 6993 non-distressed homes for sale. The good news is that the number of distressed sales is declining, but we are not entirely free from it.
A short sale is a foreclosure alternative that many homeowners have found it to be a viable option if:
- They are unable or ineligible to refinance or modify their mortgage
- They are facing a some kind of hardship where they will be unable to meet mortgage obligations
- They are already behind in mortgage payments
- They owe than the home is currently worth
- They can no longer afford the home and are ready or need to leave
A successful short sale allows homeowners to move on with their lives.
It allows homeowners to avoid having a foreclosure on their record which affects credit scores as well as the ability to buy another home in the future --it can take up to 7 years with a foreclosure and as few as 2 years with a short sale. Also, typically many of the fees associated with closing a short sale such as commission, appraisal, and settlement fees are generally paid for by the seller's lender.
If you are considering selling your home as a short sale and need help with the process or have questions in general, please feel free to contact me. I am happy to be of service!
Thanks for Reading,
_________________________ Serving your Hampton Roads and Virginia Beach Real Estate needs. Liz Schuyler on Google+
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