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Want To Sell, But Owe More Than The Property Is Worth? - 05/27/08 02:39 PM
"What should I do if I want to sell my house, but I owe more than what it's worth?" is a question that's been popping up everywhere - in person with perspective seller clients, on Zillow Q&A, Trulia Voices, in conversation with people I've just met, etc. Well, here's the answer: If you owe more than what your net proceeds* from the sale of your property will most likely be, then you have 6 choices: Don't move and wait until the market value start coming back up (3 to 5 years, maybe more) Move, but rent out the property until values (2 comments)
"Give Me Your Best and Final Offer" Means Just That - 05/27/08 12:56 PM
If you think you've found a great deal on a property, you're probably not the only one who's found it. Because of that, you may be in competing offers. If you are, your Buyer's Agent will probably say something to you like: "The seller/listing agent has asked for your 'best and final offer' by 5pm tomorrow." Attention buyers: "Best and Final Offer" means just that - "Best" and "Final". Once you submit your "best and final", the seller will choose the one that they wish to go with and that's it. There is no coming back later and saying: "But I (0 comments)
Short-Sales Becoming A Popular Option In Loudoun County - 05/27/08 12:44 PM
An ever increasing number of properties listed for sale in Loudoun County these days are "short-sales". It used to be that most were bank-owned and some were short-sales. Nowadays, it's about 50/50. It seems that home owners are viewing a short-sale as a possible option "out" now more than ever before. But what affect do short-sales have on buyers and the Loudoun County real estate market? Many of the emails and calls I get from buyers are in regards to a property they think "is a great deal". But it's a short-sale. Yes, they can be a great deal. But they're (0 comments)
Loudoun County Real Estate Market Showing Continued Signs Of Strengthening - 05/27/08 12:36 PM
Yes, folks...you read that correctly. The Loudoun County real estate market is showing continued signs of strengthening. And here's the proof: 1) The rate of new properties coming on the market is decreasing (supply). From May 1 to May 23, 2008, Loudoun County had 770 new properties/listings come on the market. That's an average of 33 new listings per day. That's down from 924 new listings during the same time last year, which came out to 40 new listings per day. That's an 18 percent decrease in the rate of new inventory from this time last year. (Remember, less supply/inventory is (0 comments)
Can You Protect Yourself From Short-Sales That Don't Disclose? - 05/09/08 03:28 PM
Have you ever thought a property was a "regular resale" only to find out it was a "short-sale" at the last minute? If you have, you were probably disappointed and possibly upset. You may have even thought that the seller and listing agent/broker were lying to you and the general public by not disclosing it was a short-sale. Before you go off calling the seller and listing agent/broker "interesting names", let's look at a few things first that will help you understand why this happens so you know how to best protect yourself... Listing agents/brokers are not allowed to disclose "confidential (0 comments)
Percentage of Foreclosures and Short-Sales Holds Steady - 05/09/08 03:22 PM
The percentage of total properties for sale in Loudoun County that are foreclosures/bank-owned or short-sales is holding steady around 25 percent. We've been seeing the percentage stay around 25 for most of this year. Though we'd all like to see that percentage go down, it's definitely good news that it's not increasing. The fact that it's not increasing is another sign that the worse is behind us. For more information about Loudoun County foreclosure/bank-owned and short-sale properties, check out my blog Loudoun Foreclosures. -Danilo
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.