In case you're wondering, what the real estate picture is in Orlando - let me relate what I'm experiencing as a real estate agent in the city of Mickey.
Foreclosures and short sales galore!
There are hundreds, perhaps thousands of pre-foreclosure situations in Central Florida. Why? Because there was hundreds of thousands of financed homes in the past four or five years that were financed with adjustable rates, or, were homes that were already financed, that the owners got additional funds out thru home equity loans.
The result is... hundreds of thousands of homeowners who cannot meet the monthly payments for their homes and home equity loans.
How does a short sale work? Basically, you make an offer on a property. And, the bank looks at the offer, and decides if they can take it, or if they need to proceed towards the foreclosure process.
You've heard of a bird in the hand is worth more than a bird in the bush? That's how short sale/foreclosures work. If you've made an offer on a property, the bank looks at it like - a SURE DEAL - and they seriously consider it.
If you'd like to put in a short sale offer on a property, contact me. I know how to make it close, and SAVE YOU MONEY! - Kayonne Riley (407) 625-7356
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment