This week, Sara left her first home for the last time.
Her castle was no longer a refuge.
It was a prison from which she was eager to escape.Two years ago, when she realized she was overburdened, she tried to do the smart and responsible thing and sell her home. The first time her home was listed, it was on the market for 4 months. The second time it was put back on the market at the beginning of this year for six months.
Both times it was listed at a price high enough to pay off the bank loans and pay all costs associated with the sale.
The problem was that during more than 10 months on the market, no more than 1 or 2 buyers came to see the home. Why?? It was over priced in the market. In Orange County, the home values of most homes have fallen in the last few years. Why would a buyer come look at it when there were so many cheaper homes from which to choose?Fortunately, the third time was a charm. Sara was introduced to a real estate consultant who could help her solve her problem and free her from her prison.
The house was re-listed at a price that was reasonable in the current housing market. This time, many potential buyers came to see the home, and several offers were made to purchase it. After much negotiation and follow up, the bank agreed to accept one of the offers.
Now Sara is freed from the burden of a home she could no longer afford after she had taken a pay cut and her husband's work had slowed down.If you or a friend, family member or neighbor needs to sell a house, but can't sell it for enough money to pay off the bank loans, please contact me to discuss a possible "short sale".
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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.
Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? Contact me at christine@donovanblatt.com or 714-319-9751 to discuss your options.
Want to buy a home or to list your property for sale in Newport Beach, Costa Mesa, Huntington Beach or Orange County? Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.
Click Orange County homes for sale to view all OC homes for sale. Copyright © 2008 by Christine Donovan, All Rights Reserved. Short Sale Complete, and Seller Breathes Sigh of Relief.
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