Real Answers For Distressed Homeowners

What Today’s Housing Market Has To Offer Distressed Homeowners

 Today’s housing market is very different from the market of the last few years.

   The greatest material asset to most families is their home. Over the last several years, this great asset has had a threatened value, being worth less on the market than what is owed. Selling could only be done at a loss, or in Short Sale. Fortunate families stuck it out, paid their mortgages, and waited. But so many other families who, in financial hardship and having no choice but to sell or face foreclosure, have been suffering through the market crash, and continue to suffer.

   Briefly, many families who have stuck it out now find their home regaining its value in the market, and can list their property with an experienced Realtor and be confident of a good outcome. Experienced Realtors such as Pamela and I have been successfully navigating the distressed market all along. We  have made it our job to learn how to do the best for our clients throughout this dangerous market.

   That being said, however, much of the country still has depressed markets. For many, the hardship caused by the fragile economy continues, and so many of our country’s families are still living with threat of foreclosure and all the damaging results. They are far into delinquency on their payments, and may have their property for sale for a price too high to bring an offer and allow them to sell.

Some Recent Market History

   One of the big reasons prices dropped so dramatically in the first place is that millions of Homeowners, hit hard by the recession and falling prices, could no longer afford their mortgage. Facing foreclosure, they tried to sell only to find that the value of their home was less than what they owed. Short Sales became the word of the day, and Realtors and Lenders were hit with a wave of a new market they could barely control. Because of the fact that some of our markets are on the upswing, there are fewer distressed Homeowners in many parts of our country. However, the economy still has large areas of unemployment; too many Homeowners are still in a fragile economic position, still facing foreclosure.

 Today, distressed homeowners may find themselves in a much better position.

   Along with the equity in Real Estate returning to our market, Realtors and Lenders realized early on in the crash that the distressed market needs to be dealt with, and dealt with professionally. There has been diligent work done to create systems within which a distressed Homeowner can short sell their home with some degree of certainty that the outcome will provide relief.

   Every Lender, and the Investors they service, has programs to help a Homeowner through their delinquency. Loan Modifications, Deeds In Lieu, and Short Sales are all stabilizing into real programs that can be worked in predictable ways to help Homeowners avoid foreclosure.

If you are, or know someone who is, in a threatened position regarding keeping their home, please, consider calling me to discuss the many options available to you.

Help is out there, and Significa Short Sales is at the leading edge of your problems.

We do nothing other than work with distressed Homeowners.  Our entire staff works together to create a 96% success rate for our clients, with a system always being improved and practiced.

 There are current improvements in the economy and housing market that we would like to point as markers that distressed homeowners need not sit still and allow foreclosure:

~According to the National Association of REALTORS, home prices rose 14.5% year over year in June of 2013. This is the biggest yearly increase in prices since 2005, when the market was at its peak. For Homeowners, this increase in prices means that some of the value that was lost during the housing crisis may have returned, and people who put off selling their homes are beginning to see that selling makes sense again.                                    

~Housing inventory is low, and the number of Buyers is growing. The Real Estate market needs six months of inventory to keep up with supply and demand. There should be enough homes for sale that it would take six months to sell them all. In today’s market, due to the reticence of homeowners in selling, there is significantly less inventory than that.                                                                                                                        

~More people are buying homes today than at any time in the past six years. Interest rates stay at near record lows, and a new generation of Homeowners is shopping. It is a simple supply and demand issue. There are fewer homes for sale and more people wanting to buy. Finally, today’s market is a seller’s market. Sellers are in their strongest position in years.                                                                                                                                                                       

      If you have been waiting to sell your home, especially if you or someone you know is having difficulty with their mortgage, it is time now to explore your options.

The important thing is to know where you stand.

     Do you know what your home is worth today? What are homes in your area selling for? What programs does your Lender have available for you? These are all questions I can help you answer.  As a Real Estate Agent and Certified Distressed Property Expert with Significa Short Sales, I make it my business to have the most current knowledge. I will help you understand exactly what your situation is and what you can do about it.

Please, contact us today for a free market analysis of your home. Let us  help you determine your best options: pgraham@significashortsales.com or call 484 762-8116

Arm yourself with information and make an educated choice.