Take a look at this blog post by Joelle Senter. Its nice to see proactive solutions available out there for our clients, in a tough market like this
Do you find yourself swimming in a sea of confusing messages coming from the media, friends, relatives, real estate professionals and the like regarding the options current homeowners, sellers and buyers have available for relief in this quickly changing economy?
Well, if you do, you are among the masses.
Given the mass confusion, and sometimes even hysteria, we are seeing in our communities at large, our office has taken a proactive approach. We are educating our agents, which are in turn educating their clients, friends, families and beyond, on some of the RELIEF options they have to withstand this economic downturn. For example:
- Current homeowners experiencing "hardship", which almost everyone is, may qualify for a loan modification making it more affordable to stay in their home. Homeowners with their home on the market for sale (sellers) may have a change of heart if they can afford to stay.
- Homesellers, who absolutely need to move on, may have an option to "short sale" their home with a qualified Short Sale Attorney and Real Estate Professional specializing in short sales. This MAY minimize the risk for pending judgements and MAY reduce the effects on your credit score, as opposed to a long- term credit damaging and potentially wage garnishing outcomes.
- Homebuyer and homesellers alike may be excited to hear about Equity Lock's timely Home Price Protection offered "exclusively" by Keller Williams Realty associates in the Mid America Region. This program should take away some of the fears buyers have on possible depreciation after their purchase. On the same token, sellers now have something to offer buyers making their home more enticing than their competition & possibly affecting the negotiated price positively, since the "fear factor" is limited. See recent Chicago Tribune article.