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Are You Better Off with a Short Sale or a Foreclosure in Houston?
Manage episode 156242305 series 1181693
Treść dostarczona przez Dale Ross. Cała zawartość podcastów, w tym odcinki, grafika i opisy podcastów, jest przesyłana i udostępniana bezpośrednio przez Dale Ross lub jego partnera na platformie podcastów. Jeśli uważasz, że ktoś wykorzystuje Twoje dzieło chronione prawem autorskim bez Twojej zgody, możesz postępować zgodnie z procedurą opisaną tutaj https://pl.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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