distressed property sales: What is a Santa Cruz Short Sale?
- 02/28/12 08:49 AM
What is a Santa Cruz Short Sale?A short sale is when a seller of a property owes more in loans on their home than they can now sell their home for on the current real estate market. Locally, about 18% of all homes sold last year in 2011 were Santa Cruz county short sales.For example, let’s say you bought your Santa Cruz home in 2007 for $650,000 and got 100% financing. In today’s market you can only sell it for $500,000. You still owe $650,000 on your mortgage so there is a deficiency amount of $150,000 plus closing costs (commissions, county … (4 comments)
distressed property sales: Santa Cruz County Foreclosure Sales - Market Report
- 01/15/12 04:55 AM
Santa Cruz Foreclosure Sales - Market Report 2011 We hear alot about foreclosures and bank owned sales all over the country. But how many foreclosure sales are there in Santa Cruz county? What percentage of all homes sales are foreclosures in Santa Cruz county?
Looking back at 2011, there were a total of 434 foreclosure sales in Santa Cruz county. These are single family homes sold through the MLS (multiple listing service) by banks are REOs or foreclosures. In 2011, there were a total of 1821 single family homes sold in Santa Cruz. This means that Santa Cruz county foreclosure sales … (4 comments)
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What is a Santa Cruz Short Sale?A short sale is when a seller of a property owes more in loans on their home than they can now sell their home for on the current real estate market. Locally, about 18% of all homes sold last year in 2011 were Santa Cruz county short sales.For example, let’s say you bought your Santa Cruz home in 2007 for $650,000 and got 100% financing. In today’s market you can only sell it for $500,000. You still owe $650,000 on your mortgage so there is a deficiency amount of $150,000 plus closing costs (commissions, county … (4 comments)
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