Do You Owe More On Your Home Than It’s Worth, And Need To Sell?
ByIn today’s Scottsdale AZ real estate market, there are many Scottsdale home owners, that are finding the title to this article to be true. If you purchased your home almost anywhere, between 2005 and 2008, chances are that you own more than it is presently worth.
The fact that you owe more on your home than it is worth, is not necessarily a bad thing. If you bought your home with the intention of living there for many years to come, and you have no problems financially being able to afford to make the mortgage payments, then you have nothing to be concerned about.
Home prices have already increased in some areas, not much of an increase, and they will continue to increase. There will come a day when your home will, once again, be worth more than you paid, and more than you owe.
If you are in a situation where you need to sell your home, and you own more than it is worth, then there are several options that we can talk about.
First: Do you really need to sell your home? Often when things change in our lives, we tend to think ourselves into a corner, where it feels like our options are limited. it really depends on your particular situation, and selling, may or may not be the only solution to the problem.
Second: Before you take any action, we recommend that you contact us, to discuss you particular situation. We will take the time to listen to you and to understand your situation, and then we will recommend what we feel would be the best course of action for you to take.
Third: If Selling is the best option to resolve your present circumstances, then you may be wondering how you could possible sell you home, when you owe more than it is worth. The answer to this is a Short Sale.
A Short Sale, is basically where the bank agrees to accept less than you owe on the property to satisfy your loan. That is the simplest way to explain what a short sale is, and yes it does require more of an explanation, and we would be glad to talk to you, and explain the entire process in great detail to you.
To find out if a Short Sale is right for you, or if there are other options that might be better for you, simply give us a call, or fill out the form below.
Our contact information:
Jim 602-284-6833
Grace 602-617-0529
If you prefer email, simply fill in the form, on our Schedule An Appointment page, and provide as much information as possible, and we will reply to you just as soon as possible. We look forward to being able to help.
If you would like more detailed information, prior to contacting us, you will find it on our website, AZ Short Sale Online.
