Should you take advantage to do short sale on your property . ..

The answer is a resounding YES !

IF you have an investment property:

If you have investment property, the best choice is simple: Take advantage of any temporary market recovery stimulated by the government to price, market and sell it aggressively in a short sale.

No, you won’t get any money back from your investment; that's water under the bridge. Worst case, your investment may cost you some money right now to sell (you maybe liable for taxes)  but.. .  the money you are thinking will  come in the form of an equity could be years down the line. . can you afford to keep this property for years and years  until the value grows up to ZERO. .so you can sell it for EVEN?

It’s insane!! . .lose a little now or your investment property could become a rock tied to your neck that brings you to the bottom of the ocean.

If you have a family home that is under water:

For your family home, the question of what to do now is now more complex. .and I can't tell you what to decide. But a few things you should consider:

A. If your mortgage payments are high and rents for equal or better homes are lower, you may want to sell it now if you qualify for a short sale while the banks are in a giving mood.

Obama has given Billions of Dollars to these banks and they are more forgiving than ever. We got some short sales accepted by banks reducing the principal for over $300,000 !!

That is a big chunk of money that the Government will eventually help pay for.

Am I advocating using the Government to bail you out?

The answer is a resounding WHY NOT!

These institutions were literally shoved with billions of our tax dollars to get bail out and in turn, they spent the money in acquisitions of other banks instead of helping the public. . a short sale is your direct link to a GOVERNMENT BAIL OUT !

“Baby that does not cry. . ....doesn’t get MILK!”

~my Grandmother

B. Ask your self this question. .what is the reason of the American Dream? To own a home that becomes forced saving and will leverage a sustained growth for your retirement

When yo take away the INCENTIVE to become a home owner and you are forced into making payments for a house that will not be worth it nearly what you owe for at least another 10 years? . That's insane.

Do you actually think the the Govement and the banks will allow a growth of home equities similar to the 2004 /2005 era. . 20% to 30% growth per year. . .they would have a heart attack. They don't want the same crisis ever again. . mark my words, the Government and the banks will control equity gain for our properties by raising interest rates and adjusting them along the way.

A healthy economy is 3% to 5% per year. . .

Meaning, if your property lost 30% of it's value. . it will take approximately 10 years to get back to PLUS Equity

YEAR 2019

C. If you decide to go with a short sale. . the person you use to help you is the most important step for you. Make absolutely sure you choose a Realtor with strong marketing savvy and a recent track record of selling short sales properties in the same general category as yours.

C. Consider offering your Realtor assistance to help during this process. I strongly recommend you become fully aware of the ramifications of your actions by consulting your attorney and an accountant before deciding if a short sale should be an option for you.

To see if a “SHORT SALE IS AN OPTION FOR YOU” READ IT HERE

 SHORT SALES in MARYLAND