So now you are in foreclosure and you need help. There are many things you can do about your situation. So you got a letter in the mail from your Mortgage Company and you don’t know what to do. Well, you have come to the right site. Just because you are facing the foreclosure blues doesn’t mean that you just have to throw your hands up and give up. Sometimes in life we all have to deal with some hard times.

You still do have options available to you.
The main point that I will be discussing with you is trying to sell a home when you have little or no equity. If you are a few payments behind on your mortgage I want you to understand that you can do something about your situation.

Let say for example you owe your mortgage company 3 payments of $1200 dollars. Some of you would think that you would have to pay $3600 dollars right? Well if you are talking to someone in loss mitigation you can ask the loss mitigator for a loan modification or a work out.What the bank will do is either take one or two payments
to the end of the loan,or they will either add an amount to your normal payment,Or they may be able to make an adjustment to your interest rate.

This is what we call a workout or modification. If you are needing to know how to get started with this feel free to contact me. The other thing that I want to bring up is doing a short sale. A short sale is when the bank is willing to take less then what’s owed on the property. To give you a better idea how this works have you ever been late on something and it got sent to collections? When that debt collector calls you they are calling you to collect payment. Let’s say you owe them $300. The collector over the phone says we will settle your $300 card for $150. The creditors just took less then what you owed on this card. Well the mortgage company does the same thing they just call it a short sale.

They are taken less then what you owe. Why would a bank do this? Well it boils down to net profit. Sometimes its more profitable for your lien holder to do a short sale then to foreclose on the property.

What is the benefit for you? You don’t have a foreclosure showing up on your credit.(please note: just because you don’t have a foreclosure on your credit doesn’t mean your credit is still good.) You will have to still reestablish your credit. Do keep in mind that if you are in foreclosure right now and you are planning on selling your home make sure that you have a plan of action. Prepare yourself before the bank comes knocking at your door. Have a place to go…. Please do not wait until after the sale because the foreclosure is now on your credit and it makes it harder to get in a rental property. So make sure your are planning out your game plan. If you are in the Dallas Texas area feel you need help with foreclosure,feel free to contact me. I would be happy to help you with a work out plan or help you sell your home.

Remember if you need assist with buying or selling your home. Visit me at:www.sellorbuyhomefast.com

Trying to sell your home in a slow market can be a process. Yes I know you are saying that it’s really slow right now and you dont know what else you can do. Well I thought I would give you a few things to keep in mind when trying to sell in a slow market.

Tip number # 1

Make sure you get a CMA or Comparative Market Analysis of properties that have sold in your area. Try to keep them as close as 1 mile radus. IF you stay in a area where comps are harder to find then you will have to go outside of this mile radus to find homes that are similar in age, type etc. What you are most likely looking at is the DOM.(Days on the Market)
This is very important because the DOM tells you how long properties where listed before they sold. Understand that if you are trying to sell your property and your home is on the top of the market and you have other homes that have simliar features and same square feet as yours and they are selling it for less. Then buyers might just pass your home up and go for the cheaper price.

Tip number# 2

Does your home have a web presents? Did you know that a lot of home buyers are searching the web to find their home. Think about it. If you are reading this right now that means you must have found this information online right? Well, buyers are doing the same thing and if your home is not present online then you are missing a lot of would be buyers who could be viewing your home right now as you read this. Make sure you have your home listed on sites that will really drive buyers to view your home.

Tip number #3

Don’t let your expectations get in the way of getting your home sold. I want you to realize that yes a few months ago you could sell for the asking price and have buyers knocking down your door with being able to go 100% fiancing. But, now you are going to have to be more realistic about pricing your home to sell. If you over price your home then it is a possiblity that you will have to decrease your price later to stand in line with what the medium price is going for in your area. Why not just start out pricing it correctly and getting it sold in the average time verse waiting around for 200 days trying to say that I know I can get my asking price. So be more realistic about what your expectations are. You just might be going up against banks who are lowering there price to get rid of inventory and if that is the case you want to make sure you price your home to sell.

Tip number #4

You could sell your home for a deep discount and allow investors to buy it. I know, you are saying why would I want to do that? Well, it really depends on what type of situation you are in right now. If you know you need to sell and you own your home free and clear or you have a little balance left its nothing wrong with allowing investors to look at your home. If you know that your home needs a lot of repairs and if you dont have the money or the time to do this you could sell at a discount to an investor who will normal like to buy it any where from 75%-65% below market value.

Tip number #5

Make sure you tell everyone you know that you home is for sale. Remember the more people that know that you are trying to sell your home the better it is. Sometimes network marketing can be some of the best marketing. Because you never you know you just might have friend or someone who is looking to move in your area and your home might just fit what they are looking for. So be sure to let them know or you could even might just get a few cards made up with the information about the home and the contact person and hand them out.

Well there you have it. I do wish you well on getting your home sold. Remember if you are in the Dallas area and you need assistant on getting your home sold. Feel Free to contact me and let me show you how I work. Happy Home Sales.

This article was written by:
Calvin Wright -Real Estate Consultant

For more information feel free to go to his website at:http://www.sellorbuyhomefast.com

Lets face it, with all of the things going on with the market right now you have to say that it can be difficult to get your home sold. Are you needing to sell in this slow market? Does it seem like you are having a hard time dealing with finding qualified buyers? I was chatting with one of my lenders the other day and it seems like the sub-prime industry is correcting itself.

Lenders are raising the bar when it comes to dealing with buyers… Making the buyers come up with more of a down payment. So how can a seller deal with the standards? You have to think outside the box… Remember you are trying to get as many buyers in your property as possible… The most important thing to remember is to have enough people viewing your property. The more people you have viewing the property the more likely you are to get the property sold.

True, there are many homeowners doing the FSBO to save on the commission. But, what they don’t realize if Realtors can’t see the home list on MLS. How will they know that your home is on the market? Also they might be selling far lower than what they really could have gotten for the property if they listed with a Realtor.

So what are some tips in trying to get the home sold in a slow market?

Tips #1: Make sure your home is priced to sell.

Remember, if your home is over price there is a possiblity that your home will set on the market a lot longer than a home that was price correctly.

Tips # 2: Are you willing to give terms to the buyer.

Are you willing to offer good terms to a buyer…. Terms can help when you are dealing with a slow market. If you tell a buyer, “if I get XY for my home I will give you repair allowances, home warranty policy, or even new appliances…”

Tip # 3: Are you willing to be creative on the fiancing.

How creative can you be when getting your home sold? Are you willing to take a small down payment and finance the amount for a period of time? Are you willing to Lease Option your home for a period of time. Are you willing to help your buyer with there closing cost? These are just a few creative ways to get your home sold.

Tip #4: Have you thought about staging your home.

Sometimes you can bring in someone to stage your home. There are companies who come in and rearrange different rooms. They will also give you suggestions on what you need to do in order to make the rooms more pleasant and ready for a buyer.

Tip # 5: Do a little remodeling.

You never know what a new paint job will do to a room… Or just fixing a few things in the bathroom and kitchen… Remodeling can pay off if it is done correctly. Just make sure you stay within your buget and don’t over do it…

There you have it … Just a few things you need to know when selling your home in a slow market….

Remember,

IF you are looking to move to the Dallas, Texas area or if you live in the Dallas area and need assistant with your home needs . Feel free to visit me at: http://www.sellorbuyhomefast.com

Also if you know of any one that will be moving the area feel free to pass my information on….

Hello,

Just thought I would leave this message to invite you to ask me questions about Real Estate. If you would like to find out something feel free to leave comments …. Thanks again

Waiting to answer your question,

The Expert