shortsales: The Issues With Short-Sales
- 10/08/08 05:24 AM
Many sellers and buyers ask me if a short-sale is the way to go whether it's to "get out" of their current mortgage/property or when buying a property in order to "get a great deal". There are lots of issues with short-sales whether you're a homeowner or a buyer and the cons many times outweigh the pros. To better explain the issues with short-sales, check out the post entitled "Short Sales Not The Solution For Eveyone" by Joe Ferrara and Gustavo Blachman over at the Sellsius Real Estate blog. Here's an excerpt: "Short Sales are simply not the solution for everyone. It is a … (1 comments)
shortsales: Want To Sell, But Owe More Than The Property Is Worth?
- 05/27/08 07:39 AM
"What should I do if I want to sell my house, but I owe more than what it's worth?" is a question that's been popping up everywhere - in person with perspective seller clients, on Zillow Q&A, Trulia Voices, in conversation with people I've just met, etc. Well, here's the answer: If you owe more than what your net proceeds* from the sale of your property will most likely be, then you have 6 choices: Don't move and wait until the market value start coming back up (3 to 5 years, maybe more) Move, but rent out the property until values … (2 comments)
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Danilo Bogdanovic
Real Estate Consultant - Loudoun and Fairfax County
Many sellers and buyers ask me if a short-sale is the way to go whether it's to "get out" of their current mortgage/property or when buying a property in order to "get a great deal". There are lots of issues with short-sales whether you're a homeowner or a buyer and the cons many times outweigh the pros.;)
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