Redding Real Estate Market News. We are seeing more Short Sales and less Foreclosure (REO) properties!
This is a good indication. It provides a trend toward the homeowner seeking alternatives to foreclosure. While it helps the seller, it also helps the lender. The Short Sale may be the single best tool to helping us return to a healthy real estate market.
A short sale is where you owe more on your mortgage than your house is worth in today's market. Because we are in a declining real estate market, you may have lost value on your home and be "upside down" on your mortgage.
You can still get your home sold. 80% of short sales are successfully accepted by the lender when properly presented.
If you have visited your loan officer and he cannot help you because you do not have enough equity in your home, then you may qualify for a short sale.
It is important for you understand what your options are at this time. Foreclosure of your home results in a considerable ding to your credit and you may have serious repercussions for years. There can be a deficiency judgment against you for the difference of what you owe and what the home eventually sells for. A short sale can afford you better options to negotiate away this debt.
Educate yourself by researching on the internet. Go to www.Google.com and search on foreclosure and short sale. Become your own expert on Short Sales, Foreclosures and Lender Work Outs. Explore all your options. It is critical to your financial health and well-being.
Visit the California Association of Realtor's website. Time is very crucial to you at this time.
Visit my website for more information and call me if I can help you determine whether you qualify for a short sale. You do not have to have good credit and you do not pay the commission on the sale of you home in a short sale.
We can help you today. Visit www.ShortSaleSpecialistsGMAC.com and learn about your options. Not all sellers will qualify for a short sale but we can help you make that determination.
Copyright 2007. Jeanean Gendron. All rights reserved.
Jeanean,
Great news to share with Shasta County consumers. We always say, "informed clients make better decisions" good work on this one.