Underwater on your mortgage, do a short sale

According to a new report, almost 50% of the nation’s homeowners will owe more on their mortgage than their house is 48% of mortgage borrowers will be ‘underwater’ According to CNNMoney.com, almost half of the nation’s homeowners owe more than their homes are worth. 25 million borrowers, which equates to 48% of all borrowers that have mortgage loans, will continue to be underwater on their properties.

These numbers are steadily increasing based on different reports over the last year. 15 million in March 2008, and 20 million at the end of the first quarter 2009.

Borrowers that are severely underwater are most concerned that their property will never recover and most likely walk away, even if they’re able to make their payment. It’s also very likely that the number of people voluntarily defaulting will grow very quickly.

The good news about all of this, is that Done Deal Solutions, Arizona Short Sale Experts, has the ways and means to help you out of this situation. Contact our office today to start your free evaluation. worth.  That’s frightening.

Sell My House and Avoid Foreclosure

How to sell your house and avoid foreclosure

In this real estate market, buyers are looking to buy houses at good prices.  This is a great time to sell if you have enough equity in your house.  You can set a low asking price and get a buyer within a few weeks.  If you are facing foreclosure due to a drop in income, this may be a great way to sell your house and avoid foreclosure.

If you do not have enough equity in your house, you may consider a short sale.  A short sale is when you sell your house for less than you owe to avoid foreclosure.  In this situation, the bank will need to approve the sale amount.  A experienced short sale Realtor or short sale investor can guide you through this process.

Short sales are becoming a very common way for homeowners to avoid foreclosure and help salvage their credit.  A short sale is much better than a foreclosure on your credit and may allow you to buy another home in a few years.  In addition to saving your credit, you are selling your house instead of letting the bank take it away from you.  It’s a win win situation.

If you are considering a short sale, due your research.  There are a number of realtors that claim to be short sale specialists.  Make sure to check their references and ask how many short sale transactions they have completed.  An experienced real estate investor is able to make an offer on your house and get the short sale process started much sooner than listing your house with a realtor.

If you’re not sure which route is best for you, contact local real estate agents or we buy houses people and get the facts.

Should I short sale my home?

Should I short sell my house?

What is a short sale?

A short sale is when you sell your house for less than the total payoff of your loans on the house.  Short sales are popular as a way to avoid foreclosure and sell your house.  Your lenders need to approve a short sale before the transaction can take place.

What are the benefits of a short sale?

There are many benefits of a short sale.

For the homeowner,

• you can avoid having a foreclosure on your credit.
• You can avoid having to file bankruptcy.
• You can sell your house and get out from under the financial burden of a mortgage you can’t afford and cannot pay off.

For the bank,

• The bank can avoid having to file foreclosure and go through a lengthy and expensive process.
• The bank can get a house sold instead of having to try to sell the house as a bank owned foreclosure.
• The bank can remove a non-performing asset from their books and make new profitable and performing loans.

How do I get started on a short sale?

To get started with a short sale on your home, contact a local short sale expert.  Due to the down turn in the housing market, many areas are seeing short sale specialists popping up.  These specialists may be Realtors or investors that are trying to take advantage of the market conditions.  You may want to read this article before choosing a short sale expert.

You can also contact us at http://www.donedealsolutions.com.  We are Arizona short sale experts with offices in Colorado, Washington, California, and Oregon.

Selling a house that needs repairs

Should I Fix Up My Home or Try to Sell My House As Is?

Selling my Home in As Is Condition

Is the house is need of major repairs?  Can you afford to fix up your house and still have room to sell without being under water and requiring to short sale my house?  These are questions you have to ask yourself.  If you cannot afford or don’t want to fix up your house, you can usually contact a “we buy houses” company in your area that will make a cash offer and take care of all the repairs.  These companies specialize in buying ugly houses or handyman specials, fixing them up, and reselling them in brand new condition.  This is a great way to sell my house fast.

Do Home Buyers Want Fixers or Fixed Up Homes?

Some buyers are looking for a fixer upper that they can put their own finishing touches on, while other buyers are looking to find a home that they can move into and have no work needed.  It depends on your area and real estate market conditions.  Most fixer buyers are willing to do simple repairs such as paint the walls, put in new carpeting or replace light fixtures. They typically don’t want to rebuild a foundation or move walls.

Before Fixing Up Your Home

Weigh the cost of  improvements against the home’s market value after the repairs or upgrades are completed. If an upgrade won’t return the investment, such an improvement might not be worth it. Before you decide to lift the roof and install skylights in the master suite, realize that kitchens and baths are where most buyers spend their time.

Here are 10 minimum improvements to make before selling your home:

• Patch all holes and cracks in walls and ceilings.
• Fix all broken appliances and HVAC systems.
• Repair leaky faucets.
• Replace worn carpeting.
• Repaint dark or marred walls with neutral paint (not white).
• Replace broken windows.
• Repair the roof.
• Change out dated light fixtures / ceiling fans.
• Replace old linens / window coverings.
• Fix code violations.

Why Isn’t My Home Selling?

I can’t sell my house!

In a buyer’s market, it is especially important to make your house stand out from the rest.

Here are some tips

• Look at the pending and sold properties in your area.  These are the properties that are attracting buyers.  How does your house compare?  Do you need to paint or put in new flooring?
• Photographs – make sure that the photographs of your house that are used in any marketing are complimentary and shot in good light.  Reduce any clutter and make your home appear spotless and roomy.  Don’t take pictures of small areas, focus on the kitchen.  Remember to include your backyard and garden area.
• Marketing and advertising – send postcards to area neighborhoods, put out open house signs on the weekends, get your house listed on the internet.
• You hired the wrong real estate agent.  Make sure to choose a real estate agent that is professional and experienced in selling houses in a buyers market.
• You home is not price to sell.  You don’t want to give your house away, but you need to price your house right in order to sell.  Don’t inflate your price so that you can show price decreases, price it to sell right from the start.  Consider putting your list price just below the last sold house in your area that is comparable to your house.

If you need to sell your house fast, consider contacting a we buy houses firm that can buy your house for cash.  We buy houses firms can be very creative and help you with all the costs associated with selling your house.  In most cases, they can close the transaction in days and you won’t have to pay any money out of pocket.  They can also help short sale my house.