Help for Families in Facing Forclosure - Market Realities of the Short Sale


	Help for Families in Facing Forclosure - Market Realities of the Short Sale

minority-builders-sc

7-31-2008 8:47 PM

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tags:

forclosure, market realities for short sale

minority-builders-sc says:

The market reality for sellers is that when facing foreclosure it is time to be less concerned with true market value and more concerned with the economic well being of his or her family.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/10f03b93-4f4d-470c-99d6-e1c29f7fdf91/305C92EE-1354-4FE3-A83D-0649F241755C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://users.search-o-rama.com/Article358142.htm" href="http://users.search-o-rama.com/Article358142.htm" style="font-size: 11px;">users.search-o-rama.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://users.search-o-rama.com/Article358142.htm"><H1>Market Realities of the Short Sale-An Appraisers View</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://users.search-o-rama.com/Article358142.htm">Morally, from the standpoint of ethical code, I have no problem with short sales.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://users.search-o-rama.com/Article358142.htm">The truth is that, excluding arms length sale prices, the short sale is probably market if compared to the sale prices of similar foreclosed homes</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://users.search-o-rama.com/Article358142.htm">As mortgage foreclosures continue to be the major drag on a weakening national economy many consumer advocates and real estate experts are advising home owners to consider the short sale.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://users.search-o-rama.com/Article358142.htm">The American desire for home ownership has been a building block of our society and despite the cyclical nature of our economy, real estate will experience strong growth in the future because of supply and demand.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://users.search-o-rama.com/Article358142.htm">The market reality for sellers is that when facing foreclosure it is time to be less concerned with true market value and more concerned with the economic well being of his or her family.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://users.search-o-rama.com/Article358142.htm"><BR /><DIV>
However, with most short sales, the only penalization on the credit report is for the missed payments.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://users.search-o-rama.com/Article358142.htm"><DIV>
<A target="_blank" rel="nofollow" href="http://hpiappraisers.com" linkindex="21">Home Pro, Inc.</A></DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/305C92EE-1354-4FE3-A83D-0649F241755C/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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