Many homeowners have seen their values go down due to the recession. Home values are cyclical and will come up again, but what if you are in trouble and need to move now even through your home value is down? If you’ve lived in your property a long time, you will now likely take less proceeds with you on the sale. If you bought in recent years, depending on your situation, a short sale might be the right answer. A short sale is when you owe more on your house than you currently can sell it for. Learn more about short sales here. First Weber Group can assist you in getting your house sold as a short sale if needed.
Here’s a great blog post from the KCM blog which explores the options of a fictitious Mr. Smith and what happens if he chose the short sale process versus the foreclosure process. If you are in the unfortunate situation he is, please take time to read. Their conclusion is: In almost all situations, a Short Sale always wins and is the lesser of the two evils. Most often the short sale garners less of a loss to the bank and has a less negative affect on the seller’s credit report. Do not delay contacting a Wisconsin real estate agent if you see yourself in a short sale situation. Act now, choose wisely, but be prepared to wait as short sales are not a short process.
You can search for a First Weber agent with Short Sale and Foreclosure certification here. If you don’t see your neighborhood First Weber agent on that list, most agents, regardless of certification, are likely to have experience in these situations.
Thank you for reading the First Weber Wisconsin real estate & Wisconsin living blog about which is the better of the two evils: Short Sales or foreclosures. Read the linked article from the KCM blog and make your own conclusion. More at our Distressed Homeowner blog category.