Seller/Homeowner Tips Category
Many Owings Mills homeowners are “upside down” on their mortgage. What does this mean?
So what are your options? Here they are:
1. Traditional Sale at a loss – you bring money to the table.
2. Short sale – you need to qualify for a hardship.
3. Rent out your home until the market comes back.
4. Stay and don’t make a move.
We can help you decide what is best for you. Give us a call.
This is one of the first questions that our clients ask us. Our clients usually have excellent credit, are current on their mortgage payments and are just underwater in that they owe more than market value. So they are hesitant to do a short sale because they don’t want their credit to be negatively affected. Unfortunately, I cannot answer their question exactly. The answer is “It depends” which I know is not very satisfying.
Here is a video that explains a bit more:
For your specific circumstances, call me at 410-902-1100 x 107. I want to make sure that I understand all of the details regarding your situation before I give advice.
Thanks and have a great day!
What is a short sale?
Most of our clients here in Baltimore are NOT behind on their mortgage payments. But they ARE underwater on their mortgage. With recent depreciation of home values, many of our clients owe more than market value and this home is holding them back from moving on with their life. They can’t sell, they can’t buy a new home, they are concerned about relocating and they just feel stuck.
Maybe a short sale is the answer? What is a short sale?
We are CDPE certified, Certified Distressed Property Experts, and can walk you through the short sale process. It is not right for everyone but it may be right for you. Since each situation is unique, please contact me to review your circumstances. We are here to help.
Have a great day!
Maybe and partially! Yes, it may be the right time to sell your home. Values have started to come back, inventory is very low, interest rates are low and we are starting to see a Seller’s market in some areas. Seller still have to be priced right, in great shape and the home has to be accessible. If you are on board, let’s talk! To find out your home’s value in today’s market, go to www.BaltimoreHomeValues.com.
Here are some statistics for the Baltimore Metro Region. This video is from February 2013; I am waiting on March and will post asap.
More than 100,000 Marylander homeowners have yet to apply for this property-tax break. The average savings are more than $1,000, so everyone who owns Baltimore real estate should get to this before year’s end.
Baltimore Real Estate players: Whatever route you take – Buying or renting – Yaffe Real Estate is here for you
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Have a college student attending Johns Hopkins, Towson, Goucher in Baltimore? Invest in a college rental!
“ I kicked myself for not borrowing some cash to buy a college rental when the first child enrolled at an out-of-state school because the neighborhood around the university appreciated significantly. In addition, we discovered a huge lack of off-campus housing for faculty and staff.”
A must read for investors and sellers alike, including 5 easy ways to boost your sales appeal.
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