July 12, 2024

 

 

When a homeowner owes more than the existing mortgage, a popular alternative to foreclosure is the short sale. Is the real estate short sale a good deal for home buyers?

 

Usually, a far better buy is not a short sale, but a bank owned foreclosure. Click on the video below for insights into the real estate short sale.

 

What Are Short Sales?

 

 

Short Sale in Real Estate – How to Handle a Real Estate Short Sale
– The fundamentals behind a short sale in real estate, why lenders may accept a real estate short sale, how to do short sales, and how a short sale financially affects sellers, whether or not the seller is in foreclosure.

Lawrence Yun is a Propaganda Machine | ShortSaleBlogger
– From today's Pending Homes Sales Index (NAR): The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in October, slipped 0.7.

The Chicago Real Estate Local: Short Sale Offer Accepted…Now What?
– Last week, I represented my clients in an offer on a short sale property in the North Park neighborhood. A short sale is a property offered at less than the owner owes the bank. The bank is agreeing to "sell short" in lieu of …

Is this a short sale? Information about the Short sale process …
– If you have to sell you house or condo because you can not make payments anymore AND you owe the bank more than we can possibly get for the home, it might be ( and most likely is) a short sale situation. But keep in mind, …

 

 

San Diego real estate agents

7 thoughts on “Short Sales – A Great Deal For Buyers?

  1. Thanks for this information. There have been a number of published studies or reports that there are expected to be more foreclosures in 2009 because of the high number of “exploding type” loans set to go off next year. So predicting exactly when this phase will slow down or come to an end is, therefore, very difficult. We have had a number of students advise they have loans which will “explode” in 2009 and 2010 (it hurts to see this, as most of these folks could have avoided these types of financing deals had they only bothered to learn something about real estate before diving into it without the knowledge they’d most likely have picked up in any good Real Estate Principles course.

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  2. Most of you are conditioned sheeple. The majority of homeowners did not buy in the last 3 years. The majority of homeowners have plenty of equity in their homes. It’s a very small group in trouble. Those in trouble will become renters again. Owners with equity will buy up most the foreclosed homes. Renters: look for the notice that your rent is going up. The rich get richer the poor get poorer. Pay attention.

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  3. There’s an extremely simple way to avoid foreclosure: make your mortgage payments on time every month. If you are unwilling or unable to do so, then you will lose your house. This is exactly what you agreed to in the mortgage contract that you signed. Expecting the rest of us to “bail you out” is a morally indefensible position.


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  4. Why always blame somebody else? What happened to self responsibility and self accountability? If you cannot afford the house payments then don’t buy a house. If you cannot qualify for a fixed-rate 30-year loan, then that means you are not qualified! It’s your responsibility to know how much you can afford. It’s as simple as that.

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  5. The only way to pay that off is massive inflation– 10-15% every year for 6-8 years. Worst part is the next President will take the fall for Greed the scope of which the world has never seen. So hold on to that house if you can, in a few years it will be worth three times its present value and that mortgage you can’t afford will represent a year’s salary.

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