Foreclosure and Short Sale Information
Foreclosure and Short Sale Information:
Always top of the real estate news - REO - What does it mean? Real Estate Owned by the bank...a foreclosure. A REO has already gone through the foreclosure process, the owner is out of the home, and the bank needs to sell it. Banks do not like to keep an inventory of foreclosed homes. They are in the lending business. Currently in Aledo with 219 homes for sale, 81 are foreclosures and 91 are short sales per Bay Area Real Estate Information Services(09/27/09). In Benicia 15 homes are foreclosure listings and 19 are short sales out of 78 total homes for sale. There are some outstanding opportunities to buy now. Pam your trusted resource to help navigate your way in buying a foreclosure (REO). For a free list of foreclosed homes currently on the market, just email your first name and email address to pam@pamsnowden.com. Let me know what price range you want and I will email you the most up to date listing information right away! Why wait to find out what is on the market the hard way.
What is a Short Sale? You will often hear this on the news or while surfing the internet. It means when a homeowner sells their home for less than what they owe on the mortgage. The Realtor negotiates with the bank to accept the contract for less money. As a seller, it is important to talk with a real estate attorney and CPA as there can be tax consequences. It is one of the last steps a homeowner can do to try and salvage their credit and dignity. You may not know a potential home for sale is a short sale. As your Realtor, I make sure I know this information and how it affects your buying or selling.
