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Are You Better Off with a Short Sale or a Foreclosure in Houston?
Manage episode 156242305 series 1181693
Вміст надано Dale Ross. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Dale Ross або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
Considering Buying? GO HERE to perform a Full Home Search, or if you're a prospective seller, CLICK HERE to receive a Free Market Analysis. For any other questions, feel free to call me at (281) 599-6575, or shoot me an email at rdr@daleross.com.
A lot of people have been asking me about the differences between a short sale and a foreclosure. They are both different kinds of distressed properties, and I’ll tell you the difference today.
A foreclosure is a home that a bank owns because it was repossessed due to an owner’s inability to pay back a mortgage loan.
A short sale is a process in which a bank allows a homeowner to sell a home at less than what they owe the bank. This usually happens because of a drop in value.
I did a search this morning, and we are seeing more short sales and foreclosures because of the rise in prices in the area. I actually expect a 50-60% increase in the number of foreclosures. The market has been white-hot the past few years, and it’s simply time for it to cool down a little. No need to worry, though, our market is still very strong!
Please don’t hesitate to contact me if you need help buying or selling a home in Houston!
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