HOME OWNERS: Did you know that the banks can offer MONEY TO YOU if you short sale a home? In December 2011, foreclosed properties sold for an average of 22% less than conventional sales, while the discount for short sales was only 14%, according to the National Association of Realtors.
The deals are aimed at incentivizing homeowners who owe more on their home than it is worth and who are seriously delinquent on their payments to sell their homes in a short sale.
For the banks, foreclosure has become an increasingly difficult and expensive option, and as the cases drag, expenses grow. Homeowners not only stop paying their mortgages but they stop paying property taxes and conducting normal maintenance as well. By the time banks take possession, they’re out tens of thousands of dollars.
Interested? Late on payments and thinking of short selling your home? Call me for details, 408-771-8472.