Anchorage and much of Alaska haven't seen a lot of short sales, seller distressed properties or foreclosures that are so prevalent in other areas, but there are some if you look for them. If you are considering purchasing a foreclosure, a distressed property or short sale in the Anchorage area, I can help you find them. Some of these properties can be opportunities for "handy" buyers who can clean the property up and either rent or "flip" them after the initial problems are solved.
In these difficult and sometimes turbulent financial times, there are people who are struggling to make their house payments. Sometimes the people made poor decisions, had unforeseen medical problems or a divorce. These Anchorage properties can become foreclosures, or begin with the short sale process.
Sometimes the loan they have have escalations in the interest rate in the early years of the loan, and the buyer figured their income would certainly increase at the time they got the loan. You and I know life can be uncertain, right? If there is a change in the family's income, or a run of sickness or hard times, they may not be able to keep the payments current with the lender.
If you, or someone you know, might be struggling to make their house payments due to a change in circumstances, it may be possible to convince the lender to allow you to the sell the home for less than the loan payoff, and avoid an ultimate foreclosure.
We have recently obtained a certification called "CDPE" which is Certified Distressed Property Expert. If you are, or know someone who is, between the proverbial rock and a hard place financially, it may be advantageous to look at your options.
A "short-sale" is the situation where the seller is truly in a hard spot. The lender is in a position where a foreclosure is inevitable. Under the right conditions, the lender agrees to a sale where the proceeds from the new buyer won't pay off the existing loan and pay closing costs. This is a harrowing experience for all parties involved, and a professional trained real estate professional can be a guide through the process.
Are a buyer and watching for either a home or maybe an investment in real estate in Anchorage, Eagle River or the Matanuska Valley? Have you been keeping an eye on the market and are you interested in looking at these properties to see what opportunity might exist there? Give me a call or send an email and we will get you connected.