Stanislaus County Short Sales - 5 Reasons Why You Should Sell Your Home Now!

Stanislaus County Short Sales - 5 Reasons Why You Should Sell Your Home Now!

If you are still following the national news media and think that this is not a good time to sell your home here are 5 good reasons why you list your home NOW.   Whether you are a traditional seller with equity in your home or a Stanislaus County Short Sale seller now is the time to list your home.

1. The inventory of available homes is low.                                                                 This is a good thing for you if you list your home now because you will have less competition.   When there is less competition your home is much more likely to be seen by active buyers.

2. Interest rates are still at historic low levels.                       This is good for you as a seller because it makes homes more affordable for buyers.   The number of people that can now afford to buy a Stanislaus County Home is higher than it has been in a long time.

3. Lots of buyers are out looking now.                                    Since there are lots of buyers out looking and a low inventory there is more chance that someone will make an offer on your home.   Two of my most recent listings had a total of 17 offers combined.   Multiple offers are very common right now.   If your home is in good condition and priced right you will have agents lining up to show it.

4. Banks are getting better at approving short sales.                                                   If you are upside down in your home and you have to sell your home as a Stanislaus County Short Sale the time has never been better to get one done.  Most banks have greatly improved their processes and are approving and closing short sales.   I'm sure most people have heard all the short sale horror stories but believe me things have improved greatly!   

5. Time is running out on the Mortgage Debt Relief Act of 2007                                 You might not know what the Mortgage Debt Relief Act of 2007 is but believe me it is important.   Basically what that act did was to change the way the IRS looked at the amount of forgiven mortgage debt.   Before this was passed if you sold your home in a Stanislaus County Short sale and your bank forgave $100,000 in mortgage debt the IRS considered that $100,000 to be ordinary income.  ( I know it's kinda crazy, but it's true)   With the Mortgage Debt Relief Act of 2007 in most cases that $100,000 is no longer considered income.   The bad news is that this act is set to expire on December 31, 2012.   Now since this IS an election year I am GUESSING that there is a good chance that that will be extended but I have not heard anything official yet.   If it is not extended then all bets are off.          

So if you are thinking about selling your home and moving up to a bigger home now is a GREAT time to sell.   If you are thinking about selling your home and downsizing now is a GREAT time to sell.  If you are upside down on your mortgage and thinking about selling your home as a Stanislaus County Short Sale now is a GREAT time to sell.  

Give me, Jim Patton, a call at 209-633-2839 for a free no obligation consultation.  I am an experienced Stanislaus County Short Sale agent.   If you just want to know what your home is currently worth in today's market give me a call and we can talk about that too.  Heck if you just want to talk some baseball we can do that too!   I look forward to hearing from you soon.