Walking Away From Homes Becoming Common

February 6, 2008

With the real estate market taking a steep decline, it is obvious to everyone home prices have declined. You either know someone who is going into foreclosure or is starting to fall behind on payments. You could know a friend, coworker or even a family member who is in default on their mortgage.

Many people purchased houses at the peak of the market or purchase houses with no money down. No their mortgages are adjusting and they can no longer afford the payments. The down turn in the real estate market has not helped either because now they owe more for their house that what it is worth.

With more and more people loosing their house to foreclosure the option of just walking away from a house that will not sell is becoming more accepted. Just this week I met a real estate investor who is walking away from 2 houses he purchased at the peak of the market. I also met a family who purchased a 3 bedroom, 2 bath, middle income home in a nice neighborhood who thought their only option was to accept foreclosure and walk away from their house.

If you own a house and have a larger mortgage balance that what it is worth you do have options. If you have a house with mortgage payment that you can not afford, again you have options. Do not make the mistake of walking away from your house, even though you may know someone who walked away from theirs.

If you need to sell your house fast to avoid foreclosure you have selling options. My advice is to contact a local home buying company who specializes in creative real estate transactions. A local home buying company can conduct a short sale or lease option your house at no cost to you. Your lender does not want your house back. They are in the banking business no real estate.

Local home buying companies negotiate with your lender to accept less than what you own on your house. They then purchase your house from you so you can get on with your life.

Bottom line: Walking away from your house leads to bad credit that will follow you for many years to come. Working with a local home buying company could allow you to sell your house fast, keep your credit and at no cost to you.

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Posted by Shaun G.

How Decorating Helped Me Sell My House Fast

February 2, 2008

When a person first sets out to sell their house, one of the first things you hear is “I want to sell my house fast.”  People will work on cleaning and repairing until they are exhausted.  These things are important, but a much over-looked strategy that will appeal to local homebuyers is the use of psychological decorating. 

To help me sell my house fast, I had to first decide on whom I wanted to target.  Local homebuyers can be divided into first-time buyers and buyers who are seeking to move into a larger house.  You may also want to take into account the income of your local homebuyers.  When using color to sell my house fast, I kept in mind that people who have higher educations and more income are often attracted to colors that are not easily defined, these are called complex colors and come in names like brick red and sage green.  First time local homebuyers are likely to be attracted more to simple colors such as yellow with blue or green trim.

When trying to sell my house fast, I also took into account that yellow houses seem to sell faster according to studies of local homebuyers.  Yellow appears warm and friendly.  This helps local homebuyers feel two of their home needs, comfort and connection, are taken care of.  Now, if your house is not yellow, that is no reason to panic.  Wanting to sell my house fast, I next did some research further into color psychology.  You don’t want to spend extra money at this time unless it will help sell your house.  Painting, both outdoors and inside can meet this need. 

Wanting to sell my house fast, I considered how I could make local homebuyers feel comfortable and good about the house.  Two colors can be dull and predictable, but add a third or fourth color in small amounts will help give the impression of fun and happy.  This will draw in local homebuyers at a higher rate.  It adds yet another advantage.

Local homebuyers will want a house that speaks of security.  Having four colors on the exterior enabled me to use only those colors inside, in various combinations.  Instead of plain white walls, which often appear too sterile and would have defeated my purposed to sell my house fast, I was able to use muted variations of the colors from the exterior.  Using a slightly tinted paint on the walls makes it appear more cheerful.  Color says happy and this appeals to local homebuyers.  Think pastel shades here.

I then started to think about individual rooms and what I could do to them to help sell my house fast.  Think about the function of each room.  Kitchens are often the family meeting place.  Many people automatically think of yellow in the kitchen, it will give the feel of happiness.  Bedrooms need to appear restful so pastel greens or blues will help with that impression.  Bathrooms are the only room that plain white will appeal to local homebuyers.  White says clean and sparkling. 

Following a few of the hints above will enable you to say “Color helped me sell my house fast!”

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Posted by Shaun G.

Home Prices Decline at Record Pace – Sell My House Now

February 2, 2008

House prices in 10 major cities across the United States declined 6.7 percent. December marked the largest home price drop since 1986. That is the year home price data started being collected.  

This is adds to the recent data proving the real estate market is a world apart from 2 years ago. The major issue with home prices continuing to drop is how it affects home buyer confidence.

When people buy a new home they want to be confident their house is not going to loose value after purchase. Given the current consumer confidence in real estate some areas of the country are struggling. The demand for new home purchases has almost hit a stand still. Home buyers are waiting on the sided lines until they see the real estate housing market has hit bottom. Once home prices stabilize home buyers will fill confident to purchase houses again.

In Cities like Boise Idaho new home purchases have almost completely stopped. In October there were 1,567 new construction homes on the market for sale. Only 153 houses sold in the same month. That means it would take almost a full year to sell all the new construction homes on the market, and there are more being added every day.

The decrease in real estate value has affected many home owners. Two years ago people were purchasing homes in hopes they would go up in value and then the home owner would sell for a profit. Now that house prices are declining many home owners are realizing they are 100 percent financed and can not afford the home they are in.

If you are in a home you can not afford I would suggest selling now rather then later. Home prices continue to decline each and every month. Some cities are not expected to stabilize until the middle of 2009. If you need to sell fast to avoid foreclosure contact your local real estate investor in your area. Local real estate investors are fluent in real estate law and can purchase your house fast. This will allow you to save your credit and possibly some of your equity.

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Posted by Shaun G.

Even Millionaires Face Foreclsoure

January 13, 2008

What Does Pop Superstar Michael Jackson Have In Common With 108 Local Charleston Homeowners ?
If this question was asked by Alex Trebek, the long-time host of the popular American television quiz show “Jeopardy” it would most likely stump even the sharpest contestant. No, unfortunately, the answer is not:  “Party like a rock star!” To use the vernacular Jeopardy terminology: “What is Foreclosure?” 

Even millionaire superstars like Michael Jackson are not immune to the current mortgage problems .That’s right …”THE” Michael Jackson, is just weeks away from losing his famous Neverland Retreat to foreclosure unless he can come up with $23,000,000 (plus $212,963 dollars in back payments, interest, penalties, and attorney fees!) Jackson, who has not lived in his Neverland property since his acquittal on child sex charges in 2005, has resources, investments and even other homes that he could use  to stop the foreclosure process…unlike the 108 local Charleston, Berkeley and Dorchester County homeowners who are uncertain as to what their next step will be. 

While some of the properties that are going to the foreclosure auction belong to investors who were unable to continue paying increasing adjustable rate mortgages or could not  keep paying tenants in their properties, many of the homes belong to folks who tried for months to sell, and blamed the economy, the market , the Realtor, everything EXCEPT the fact that they were simply asking too much for their property. 

If you are in facing foreclosure, have no equity, going through a divorce, have two house payments, tired of dealing with rentals or just plain tired of the stress, one option is to find a local home buyer in Charleston that specializes in buying preforeclosures . Local home buyers can help you sell your house fast and avoid the side effects that can follow you for years!  Sell my house fast to a local home buyer. But what about the other hard working South Carolinians who live paycheck to paycheck and want to keep their homes from being foreclosed on?  

As most people who have suffered through the foreclosure nightmare in Charleston learn…it’s not about “Location, Location, Location”…it’s about TIMING…and when your lender is suing you, you need to learn as much about timing as you can: for example, there are 16 steps in the foreclosure process in South Carolina and most Charleston homeowners in foreclosure do not :  

  1. Know where are they in the process?
  2. Know how much time is REALLY left?  
  3. Have access to the resources, advice, and assistance that people of wealth like       

Michael Jackson has at his disposal . Even more frustrating is the fact that some of the homeowners who are facing foreclosure and eviction in the next few weeks do not even realize that the attorney who filed the “Notice of Default” works for the Lender, not them…and almost none of them are aware of the nine (9) options that most lenders hope they never find out about. 

If you are in a situation like this and would like to learn the nine  (9) options before you run out of time and your house is auctioned on the courthouse steps, contact your local Charleston affiliate at ExpertHomeOffers for a FREE, Confidential, No-obligation consultation.

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Posted by Shaun G.

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