Short Sales

Short Sales and Foreclosures have been driving the market for well over a year now.  A Forclosure is a property that the lender has taken back, due to the homeowner falling behind on their payments.  A Short Sale is when the lender allows the homeowner to sell the home for market price, even though it is less than he/she owes on the property.  The lender accepts this if the property is owner-occupied, and if the homeowner can show financial hardship.  It is a better option for the homeowner, because they are able to stay in the home until the home is sold (which can be up to six months to a year), and because he/she is able to purchase a home sooner than they would had they let the home foreclose.  Short
Sales are better for lenders because, although they do lose money on the investment, Short Sales cost less that it would cost to foreclose on the home. 

The Short Sale Process can be very long and frustrating for all concerned parties.  This is one of the times that we Realtors really have to work hard to make sure our clients are taken care of.  It is very important that you have an agent that is not only experienced in handling Short Sales, but that is not innundated with troubled properties.  Short Sales take a lot of time and effort, and if your agent is not constantly communicating with all parties, the deal can and will fall apart.

I have experience assisting both buyers and sellers in the Short Sale process.  I keep in constant contact with the other agent as well as the lender representatives, and I make sure to keep up with the ever changing market.  Every cloud has a silver lining.  It is my job to help you find that lining and to bear the brunt of as much of the problems as is possible.

These are definitely tough times.  It would be my pleasure to help you get through it.