Las Vegas Market Watch

Do you know Someone that you could help out of a big financial mess before the end of the year?

August 01, 2012
By Mary Kennedy
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As we move closer to the end of 2012 Short sales are trending up, as homeowners, mortgage bankers and potential buyers all race to settle on Bargain-Priced homes that are up for sale. Short Sale occurs when Homeowners lender agrees to let the property be sold for less than the amount owed on the mortgage. As even some of the worst Real Estate Markets begin to stabilize, this could be the year that we will see the highest number of homes go through a short sale for a couple of major reasons. Lenders, being pressured by the Federal Government and their own Board of Directors, have come to the realization that they are better off allowing a short sale and collecting on a percentage of an underwater mortgage than taking a home into foreclosure. Some lenders have even created quick short sale guidelines in which they will pre-approve a property for a short sale and even pay the seller an incentive to close escrow and move on with their lives There is also a time deadline for sellers as they could miss out on a valuable tax break if they fail to complete their short sale by the end of 2012. Some underwater homeowners, who have been in denial and have been paying on these mortgages for years, have come to grips with the reality of the situation and have decided that it's time to move forward. So now I make my Plea! I know that my Email Messages are read and forwarded by my Readers and through the Social Networks far beyond the Las Vegas Valley.  If you have a friend or loved one that is going through the pain and stress of being underwater in their mortgage and don't know what to do, I encourage you to have a frank discussion, with them about the reality of their situation. If you don't feel that you can have that discussion, please forward this email to them with this message: "No matter what city or town you live in, please contact your Realtor to discuss your options. There are solutions to this problem for everyone and some are not as painful as you think. If you are a responsible human being, you owe it to yourself to have the discussion and as we already know, the sooner you head into the fire, the sooner you get through it and back to some normalcy in your life." Now! Your specific Realtor may not be well versed in short sales, but rest assured they know someone, they trust, who is. If you try and you're not getting anywhere, call me and I will personally put you in touch with one of my responsible RE/MAX Business Partners who specialize in in your situation in your city or town. Lastly! Please don't be upset with the person who forwarded this information to you. They did it because they are concerned about you and it took a lot of courage for them to do it. Please keep me up to date on how it's going and I look forward to hearing from you on the other side of the fire. Best Regards, Mary
August 01, 2012
By Mary Kennedy