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Is Real Estate an asset, liability, luxury, home or burden?
Real Estate has always been all of these things, it depends upon your unique perspective.
Is it a great time to buy?
Incredible mortgage rates and low prices make home ownership very attractive. Its possible to own a home for less than rent with the low interest rates and low prices. If you're thinking of investing, many rental properties will generate a positive cash flow. FHA may allow qualified buyers who did a short sale 3 years ago or less to purchase again depending upon specific circumstances.
Is it a great time to sell?
It is, buyers are actively searching for well maintained and upgraded homes. The market has more distressed properties (short sales, bank owned) than resale homes and often resale homes are easier to purchase. Realistic buyers find out right away if their offer is accepted and then realistic sellers are successful. Selling a home as a short sale successfully depends upon many factors including seller expectation, motivation, cooperation & communication.
What is a Distressed property?
Estimates are that 1 of 8 homes are distressed across the US. A distressed home is one where a mortgage payment is 30 days late or more. Only about 30% of these distressed homes will actually attempt a short sale trying to avoid foreclosure. Subprime loan defaults peaked in 2008 before unemployment rose above 8%. Unemployment exasperated the situation and soon option arm loans, where $ billions in loans will need to be managed, will add to the foreclosure crisis. Bank owned inventory held (not released for sale) is estimated between 5 million and 7 million units nationwide.
Real Estate has always been all of these things, it depends upon your unique perspective.
Is it a great time to buy?
Incredible mortgage rates and low prices make home ownership very attractive. Its possible to own a home for less than rent with the low interest rates and low prices. If you're thinking of investing, many rental properties will generate a positive cash flow. FHA may allow qualified buyers who did a short sale 3 years ago or less to purchase again depending upon specific circumstances.
Is it a great time to sell?
It is, buyers are actively searching for well maintained and upgraded homes. The market has more distressed properties (short sales, bank owned) than resale homes and often resale homes are easier to purchase. Realistic buyers find out right away if their offer is accepted and then realistic sellers are successful. Selling a home as a short sale successfully depends upon many factors including seller expectation, motivation, cooperation & communication.
What is a Distressed property?
Estimates are that 1 of 8 homes are distressed across the US. A distressed home is one where a mortgage payment is 30 days late or more. Only about 30% of these distressed homes will actually attempt a short sale trying to avoid foreclosure. Subprime loan defaults peaked in 2008 before unemployment rose above 8%. Unemployment exasperated the situation and soon option arm loans, where $ billions in loans will need to be managed, will add to the foreclosure crisis. Bank owned inventory held (not released for sale) is estimated between 5 million and 7 million units nationwide.
About Me:
This market is challenging for everyone. I work hard to bring clarity of the market to my clients. Whether you're a seller or buyer, I have developed the skills to successfully close your transaction. I have helped many homeowners avoid foreclosure through short sales. I have helped buyers find and close on great homes that were either short sales, bank owned (REO's) or resales. I constantly learn through continuing education classes, conferences and earning designations to be up to date and knowledgeable in today's market. At anytime on this website, click on "contact us" and let's discuss how I can help you with your real estate needs.
