Shortsales and Eugene, Oregon

Arica Song
Realtor/ Principal Broker
Keller Williams Realty Eugene & Springfield
Phone: 541-736-6314
http://www.eugenehomefinder.com/search/

You might be asking yourself what a short sale is.  I often get this questions a lot from home buyers.  Basically, a shortsale occurs when a homeowner goes through a hardship. Homeowners often need to shortsale their homes to "get by" and make ends meet. This hardship is often due to situation such as a job loss, divorce, hospital debt or relocation for work. When a homeowner goes through a shortsale he/ she owes more for the property than what it can be sold for. The bank that loaned the homeowner funds to purchase the property is being "shorted" the difference.

Often times, homeowners who are struggling to make monthly mortgage payments fall behind without the ability to catch back up. This quickly causes stress and tension throughout the family. Roughly 11% of the local Eugene real estate market was made up of shortsales in 2012. This number seems to be holding steady in 2013.  Shortsales typically take 4-6 month in our area if they are not "bank approved" shortsales, meaning the bank has not agreed on a price they are willing to sell a home fore.

 If you feel you may be a shortsale candidate or you are looking to puchase a shortsale, please call me. I can assist you with your shortsale needs and ensure you are represented professionally.



Arica Song
Realtor/ Principal Broker
Keller Williams Realty Eugene & Springfield
Phone: 541-736-6314
http://www.eugenehomefinder.com/search/