January thru July of 2014 has over 500 Northern Virginia properties sold as short sales. It seems like short sales are not going away!
What is an actual Short Sale? A short sale is when the owner owes more on their home than it is worth, and the seller does not have enough proceeds at settlement to pay all liens and sale costs. The sellers bank is then asked to take less than they are due to be able to consummate the sale.
Why will short sales grow? Many banks, Fannie MAE & Freddie MAC are halting foreclosures and pushing owners towards short sales.
How do I take advantage of this? You need a real estate agent that knows the ins and outs of short sales to ensure that you wait for a short sale that will obtain bank approval (over 50% are not approved). My seven years of short sale listings and helping buy short sales, and having helped train over 300 agents on short sales, let you know of my capabilities. So call me now at 571-233-0581, to discuss how we can get you a great deal with a short sale. If now is not the best time to speak, please complete the form so I can contact you.