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short sale: Increase In Short Sales Give Housing Market Breathing Room - 01/03/12 06:03 PM
Short sales up, foreclosures down. That's because in many cases a short sale may be the lesser of two evils for banks and homeowners versus a foreclosure. It's a tarnished silver lining for people at risk of losing their houses and homeowners in neighborhoods blighted by bank-owned properties, but the robo-signing scandal that slowed the foreclosure process to a crawl appears to have increased lender interest in short sales.
Foreclosure sales are pretty devastating," said Faith Schwartz, executive director of Hope Now, a resource for homeowners facing foreclosure. "We'd much prefer a modification, but if homeowners don't quality, then the next best … (1 comments)
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short sale: Bank vs Long Island New York Homeowner – When Does A Short Sale Benefit Both? - 12/27/11 03:51 PM
What is a short sale and who benefits from a short sale? Short sales used to be an infrequent type of real estate transaction, but with current economic conditions, more and more homeowners are opting for this type of sale. A short sale occurs when a homeowner sells their home for less than what is owed to the mortgage holder. There are pro's and con's for both the homeowner and the bank in a short sale.
Bank
There are several reasons why a mortgage holder, or bank, would agree to accept less than what is owed. A bank may benefit from … (0 comments)
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short sale: A Great Time to Sell a House - 10/14/11 02:08 PM
Selling a house in this economy has its challenges. A seller must make a careful assessment of the pros and cons of their property before they put in on the market. One question that must be answered right from the start is establishing whether now is the best time of the year to sell.
Generally, fall and winter are not the best time to sell a home, but due to the increase of foreclosures and short sales, there is an abundance of available homes to choose from, but with many of these properties it is truly buyer beware. The market is … (0 comments)
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short sale: Facing Foreclosure - What You Should Do Now - 07/22/11 08:35 PM
Do you see trouble ahead for making your mortgage payments? Here are some things to do now to make it through…
Source:longislandrealestate4buyers.com
*************************************************************************************** Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighbouring Queens County properties.
We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to … (2 comments)
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short sale: Home Inspections on Foreclosures - 06/24/11 09:00 PM
Inspections of foreclosed homes present a particular challenge. Often, there is no source of water, no source of electricity, and no source of heat or air-conditioning. These conditions inhibit a full and comprehensive inspection of the home. Of course, the primary aspect of the home inspection is still the verification of the structural integrity.
Typically, bank owned properties are sold as is and the bank is typically unwilling to have non-functional systems made functional for the home inspection. Therefore, buying a home in foreclosure under these conditions is similar to buying a used car without the opportunity to drive the car.
… (2 comments)
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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