60 Minutes and The Housing Market – How Does Short Sales in Fort Collins Fit In?

Fort Collins CO – If you caught the show 60 Minutes on December 18th you may have been brought up to date with how dim the housing situation may be in many areas. It’s not so much that houses aren’t necessarily selling or that buyers aren’t looking; but instead they brought to our attention an alarming statistic.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Twenty-Five percent of American homeowners today owe more on their homes at this moment than their homes will ever be worth. To prove their point they went to Cleveland, Ohio and showed how many homes were literally being torn down because so many home owners literally have walked away from them completely and leaving them with the banks. They also showed some situations where the homeowners were a little more intense about the fact that they absolutely would do everything possible to not be one of those statistics. The reality was that one woman they showed owed over $100k on a home that was valued at $50k or less. The value of her home was quickly declining as more and more of her neighbors simply moved away from the places that had once been their dream homes. Sadly becoming a typical scenario more and more so throughout American, including Fort Collins, CO.

60 Minutes and The Housing Market – How Does Short Sales in Fort Collins Fit In? FULL ARTICLE