Atlanta, Georgia: Short Sales are all over the Media and you need to know what they are!

 As more and more people are finding themselves in a position where they just cant handle their mortgage payments, short sales are becoming an alternative to foreclosure.  As a seller, you need to fully understand how short sales work. You also need to understand that a short sale can sometimes take a little time, be patient.

There are two ways to go about a short sale, the right way and the wrong way.  You need to work with a professional who understands the right way. With more and more homes coming on the market in the Atlanta, Ga area, you don't have time to waste.

What exactly is a short sale?  It is where you owe more for your home than what your home could sale for in the current market. Today, we are experiencing prices that relate to the market as far back as 2003.  So, realistically your home is not going to sell for more than it would have back then.

Here is an example:  In today's market your home would only bring $300,000 (you come up with this price based on other sales in the area), but you owe $375,000 for it. Based on this information, you approach your lender about doing a short sale and accepting less for your home.  If the lender agrees, you have a short sale.  Getting them to say, "Ok", is only the beginning.

There are a lot of factors that come into play and need to be handled in the process of getting a short sale in the works.  Do you have mortgage insurance? They will need to approve the short sale.  Do you have a second mortgage on your home? This can really throw a wrench in your time line. Again, you MUST understand that a short sale can take time to work out.

Some people wonder why a lender would accept a short sale.  It is very common for the amount they can get for a short sale to be more than what a foreclosed property will bring.  It is in their best interest to get as much as they can for the property, and a short sale offers them another option.

We are currently doing successful short sales in the Atlanta, Georgia area, including: South Metro Atlanta, Clayton County, Henry County, and Fayette County.  We specialize in luxury home sales including: golf communities, lake communites and fly-in communities. If you need to consider a short sale, give us a call to discuss your options, 770-961-5520, ask for Brande (Brandy).

To learn more about short sales, you might want to subscribe to our blog and check back often as over the next couple of weeks, we will be breaking down the process. 

 Legal Disclaimer:  We are not attorneys.  You should contact an attorney to discuss your current situation and the best options for you.

 

Proudly Serving South Metro Atlanta for over 50 years!


The sale of your home is an important step towards your future. You deserve to have someone that is willing to work on your behalf, who is aggressive and will negotiate to make sure you're getting top dollar for your home. You should expect to be a priority, receive weekly updates and know your property is being marketed in a manner that can get a SOLD sign on it. Our market is changing daily; you deserve the knowledge and experience of a well-rooted company that can get your property SOLD.

Call today to sell your property or buy your next home in Atlanta Georgia, South Atlanta Georgia, Henry County, Jonesboro, Stockbridge, McDonough, Clayton County, Mallard's Landing, Heron Bay, Crystal Lake, Eagle's Brook, Eagle's Landing Country Club, Lake Spivey, Lake Spivey Country Club, Lake Jodeco, at 770-961-5520, Brande Bradford, Licensed Real Estate Professional.

Copyright 2008: Bradford Realty Group, All Rights Reserved. *Atlanta, Georgia: Short Sales Are Gaining Momentum!*

 
This post has been included in Georgia Information
Post is included in group: The Art Of Marketing You
Post is included in group: Rookies Turning Pro
Post is included in group: Learn to be a Top Producing Listing Agent
Post is included in group: South Metro Agents
Post is included in group: Local Expert

8 Comments on Atlanta, Georgia: Short Sales Are Gaining Momentum!

APR
23
2008
256,820 Points 3 Featured Posts Outside Blog
Brande, this is an excellent explaination of a short sale. We haven't seen many in Lynchburg, yet, but nine of us including both brokers were certified in short sales last week to be ready for what is coming.
5:21pm • #1
2 Featured Posts

Brande- Good information for people in your market (and anywhere for that matter) I am sure you will be doing a fine job at handling short sales.

Best,

Scott 

7:15pm • #2
8 Featured Posts
Debbie - I currently have a few of them that I am working on.  Getting certified is a great move.  I like working with short sales as they can be challenging.  The results are worth the effort for sure.
8:55pm • #3
8 Featured Posts
Scott - Thanks!  Actually, there is a funny story to the short sales that I have, but I am not willing to share it yet.  It is a tad bit embarrassing to say the least.  Maybe someday in the near future.  All I know is that today when I called that seller, the reaction was all I needed.
8:57pm • #4
303,657 Points 12 Featured Posts Localism Sponsor Outside Blog

Hi Brandee,

Like other areas, we're overwhelmed with short sales right now in SoCal.  It just seems like one of our biggest issues is that lenders, processors and some agents are ill informed on how to facilitate them.

11:29pm • #5
APR
24
2008
8 Featured Posts
Lynda - There is definitely a process to it.  I really didnt realize that I had done a short sale until after the fact, but it went smoothly and now I am on a bandwagon!  Btw, thank you for your help :-)
7:38am • #6
SEP
12
2008

Hey brande,

 thank you for the short sale information, I am working in the Augusta Ga area and we are catching onto the short sale process, I subscribed to your blog and look forward to exchanging information

Mike

10:41pm • #7
OCT
25
2008

I subscribe to your blog being from augusta ga and gaining information about short sales, looking forward to your blogs

mike

8:34pm • #8

This blog does not allow anonymous comments

 
Rainmaker_large

Brande Bradford... South Metro Atlanta Specialist

McDonough, GA

More about me…

Bradford Realty Group

Address: 5503 Oakwood Drive, Lake City, Ga, 30260

Office Phone: (678) 705-9228

Cell Phone: (404) 993-5753

Email Me

I strive to make each and every one of my clients feel like my priority. My blog helps me to express my thoughts, learn more about the industry and keep striving to be the best possible real estate agent that I can become.

Locations of visitors to this page



Links

Archives

RSS 2.0 Feed for this blog

Find GA real estate agents and McDonough real estate on ActiveRain.