With home values falling dramatically from 2006 boom prices, many homeowners have found themselves in what is called a ‘negative equity’ or ‘underwater’ situation. This means the value of their home is currently less than the mortgage amount on that … [Read more...]
Short Sales – 10 Common Myths Busted
It’s likely you’ve heard the term “short sale” thrown around quite a bit. What exactly is a short sale? A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is … [Read more...]
Negative Equity: The Latest Statistics [INFOGRAPHIC]
InfoGraphic … [Read more...]
Avoiding the Dirty Dozen Barriers to Short Sale Success
Short sales often take three times longer than a traditional transaction and sometimes never close at all. By hiring an agent who knows to avoid these twelve barriers, the process can be less stressful. 1.) Poor short sale candidate Establish … [Read more...]
Shadow Inventory and Its Impact on Prices
Many analysts differ on what impact shadow inventory will have on house values in 2013. Some warn that these distressed properties will still play a major role in limiting appreciation. Others believe that the increases in buyer demand will more than … [Read more...]
Distressed Real Estate Sold at 20 Percent Discount in November 2012
Based on information from the November 2012 REALTORS® Confidence Index Survey, foreclosed property sold on average at a 20 percent discount, while short sale properties sold at a 16 percent average discount. The discount to market experienced by … [Read more...]
