My New Blog

Thinking of selling and wanting to move up or maybe your home is

to big and you want to downsize ?  There is still enough time for you to capture the $6,500 Tax Credit but we must move quickly.  Lots of time people are not even aware of the Tax Credit for sellers, because they hear so much about THE BUYERS Tax Credit.  I have provided statistics from all of Lexington on how the market is doing and how these incentives can help you make the right choice.

I will be providing some more statistics later this week on particular areas.  If you have a particular neighborhood that you would like me to post or privately discuss with you email me or comment on this blog. 

Hope to hear from you soon     

Myth #7 – Buyers are Not Interested in Short Sale Properties

For buyers, short sales and foreclosures have become synonymous with “good deals.” More specifically, international buyers are targeting these properties. Listing with an experienced agent who is educated in the short sale process will provide you with a great chance of quickly seeing a contract on your property.

In conclusion, Agents with the CDPE Designation have been trained in all aspects of the short sale process, and know how to deal with the parties involved in foreclosures. Finding a CDPE can explain what options you have, and get you on the path to recovery.

If you have any questions regarding a short sale or foreclosure call me anytime.

Information provided by CDPE.com

Myth #6 – Banks are Waiting on a Bailout and Not Accepting Short Sales

Today, more banks are aggressively pursuing short sales and working with agents who understand how to process them. Freddie Mac recently hosted a national training Webinar for real estate agents where they expressly stated the organizational goal of “eliminating distressed assets through modification or short sale.”

Visit tomorrow for the 7th most common myth regarding a short sale

Information provided by CDPE.com

Myth #5 – Short Sales are Impossible and Never Get Approved

This is a complete falsehood. Are short sales more difficult to execute? Yes. Do you, as a homeowner, need to learn about a new process? Yes. Are they impossible? Absolutely not.

For example, agents with the Certified Distressed Property Expert® (CDPE) Designation receive thousands of short sale approvals on a monthly basis. These professionals have undergone extensive training in methods to help homeowners in distress and process short sales. While there are no guarantees in any transaction, more and more short sales are being approved regularly. This is far from an impossible process.  

Visit tomorrow for the 6th most common myth about a short sale

Information provided by CDPE.com

Myth #4 – Listing My Home as a Short Sale is an Embarrassment

It is understandable to have reservations about letting the world know that you owe more on your home than it is worth. However, according to recent estimates, more than one out of eight homeowners in the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you toward a solution.

With recent estimates showing 40-60% of U.S. sales will be short sales or foreclosures, you are not alone.

Visit tomorrow for the 5th most common myth about a short sale

Information provided by CDPE.com

Myth #3 – There is Not Enough Time to Negotiate a Short Sale Before My Foreclosure

This is a myth that probably hurts homeowners the most. Many do not realize that foreclosure is a process, and that there is time to make decisions that may result in better outcomes.

The foreclosing party—in most cases a lender—can stall a foreclosure up to the final day of the process. Today, many lenders will stall a foreclosure with as little as a phone call from you explaining that you are trying to sell, and almost all lenders will stall a foreclosure with a legitimate contract. For real estate professionals who understand foreclosures and short sales, there is time available until the foreclosure process is complete.

Visit tomorrow for the 4th most common myth regarding a short sale

Information provided by CDPE.com

Myth #2 – You Must Be Behind on Your Mortgage to Negotiate a Short Sale

If you meet these three requirements and believe that you soon may be unable to afford your mortgage, act immediately. Any delay could limit your options. Do not wait until the countdown clock to foreclosure has started and you have even less time left.

Visit tomorrow for the 3rd most common myth regarding a short sale

Information provided by CDPE.com

A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs.

Myth #1 – The Bank Would Rather Foreclose than Bother with a Short Sale

The qualifications for a short sale include:

1. Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
2. Monthly Income Shortfall – “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
3. Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

Visit tomorrow for the 2nd most common myth about a short sale

Information provided by CDPE.com

Provided by RE/MAX