Real estate blog entries tagged with foreclosures by Rich Jacobson Your Kitsap County WA Real Estate Broker (Keller Williams West Sound Realty)

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Home : Blogs : Rich Jacobson Your Kitsap County WA Real Estate Broker : Kitsap County WA Real Estate : Tag "foreclosures"

foreclosures: Would You Recommend a Strategic Default to Your Clients? - 12/07/11 12:01 AM

Wikipedia offers us the following definition of Strategic Default:
A strategic default is the decision by a borrower to stop making payments (i.e., to default) on a debt despite having the financial ability to make the payments.
This is particularly associated with residential and commercial mortgages, in which case it usually occurs after a substantial drop in the house's price such that the debt owed is (considerably) greater than the value of the property — the property has negative equity or is "underwater" — and is expected to remain so for the foreseeable future, such as following the bursting of a real estate bubble. Such borrowers are called "walkaways." The process … (9 comments)

foreclosures: Low Offers, Short Sales, and Other Market Realities - Kitsap County WA - 06/14/11 06:04 PM

Given the current real estate market dynamics in Kitsap County WA, and the prevalent number of short sale and foreclosure properties being listed (about 30% of all properties), it's rather challenging for traditional Sellers who aren't upside down on their mortgage or facing imminent foreclosure to effectively sell their homes.
As a result, many Buyers (and some agents/brokers) assume that every Seller is equally desperate and willing to make huge pricing concessions in order to attract a viable Buyer.
Such was the case recently with one of my listed properties.
I have the good pleasure of marketing a beautiful home in … (11 comments)

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Rich Jacobson Your Kitsap County WA Real Estate Broker

Silverdale, WA

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Keller Williams West Sound Realty

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Providing Knowledgeable Empowerment and Relentless Representation of Real Estate Clients throughtout the Western Puget Sound, including all of Kitsap County WA, and portions of Mason, Pierce, and Jefferson Counties.

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