There are many South Florida residents out there who bought at the height of the market and are now underwater on their home and cannot afford to sell. By underwater I mean that their mortgage obligation exceeds the current value of their home. In this situation, a bank may release part or all of the mortgage debt if the owners are experiencing a financial hardship and need to sell.
For anyone who is interested, the following is a list of acceptable hardships:
* Mortgage Rate Adjustments
* Loss of Employment or Reduction in Wages
* Business Failure
* Medical Hardship
* Death in the Family
* Military Service
* Overwhelming Debt Obligations
* Job Relocation
A short sale does not have the same impact on a person’s credit score that a foreclosure does. If someone short sells their home, they can expect a drop on their FICO score of 75-125 points for roughly 1-3 years. I have closed several short sales for homeowners. I have an experienced team in place so that the process runs as quickly and smoothly as possible. If you are interested in learning more about whether you and your home qualify for a short sale, please don’t hesitate to contact me directly on my cell at 954-802-8462.
Posted by Karen Hurst on Apr 9, 2013 in Condos, Davie, Feature Properties, Foreclosures, Las Olas, Local Events, Miami, Plantation, Short Sales, Single Family Homes, Southwest Ranches, Weston | 0 comments
This can’t be talked enough about on how to price your South Florida home correctly from the start. If you look at home sales in the past year, you will notice a trend. Those homes that were priced competitively from the beginning, not only sold quicker, but also for top dollar. You can avoid your home from becoming a stale listing and this article in HGTV’s FrontDoor by Shannon Petrie tells you exactly how to do that.
- MISTAKE #1 – forgoing research
- MISTAKE #2 – Hiring the agent who offers the highest list price for your home
- MISTAKE #3 – Getting emotionally involved
- MISTAKE #4 – Pricing too high from the start
- MISTAKE #5 – Overpricing because you have “time”
- MISTAKE #6 – Chasing the market
Of course there are many other factors that will contribute to selling your home quickly including: staging, decluttering, marketing and making sure the showing conditions of the home are ideal – but we have discovered, together with the rest of the county, that pricing is the number one reason. It’s easy to point fingers after months of having your home for sale, but blaming others won’t get your house sold. Step back and be objective and hire the right South Florida Realtor.
For those who are knocking down doors to live in Weston, here is your chance act fast
BEAUTIFUL LAKE FRONT HOME IN WESTON’S SAN SEBASTIAN. 3 BEDROOM/2 BATH WITH VAULTED CEILINGS, DESIGNER FANS, DECORATIVE FIREPLACE AND MANTEL, CROWN MOLDING, FRENCH DOORS LEADING OUT TO COVERED SCREENED AND TILED PATIO AND MUCH MORE…A MUST SEE!