By now many have heard of all the homes across the country in crisis… pending foreclosure.  As homeowners find themselves unable to hang on to their home due to any number of circumstances, many have chosen an option called a Short Sale.  This is bascially a “pre-forclosure” sale where a seller owes more on the home than the sale will produce.  You might ask “why would someone go through the process of trying to sell the home when they know ultimately they will lose it?”  There are 2 reasons why a seller would entertain this process:  1) If the difference between what they owe and the net proceeds from a sale are minimal, they might be in a position to bring in the extra monies so to keep their credit in tact and pay off all lienholders.  2)  If this is not the case, generally the lienholders can net more from a short sale than if the bank has to foreclose on the home and sell it themself.  The impact on the homeowner’s credit is usually less damaging than if the bank has to go through the full foreclosure process which is long and drawn out. Continue Reading »

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When people have a good reason to buy - they buy. With the changes in the current market, they become hesitant. Current buyers often think that prices will go lower. On overpriced houses this is most likely the case. However, if the price has already dropped significantly, the best homes may not go much lower. And, eventually the prices will go back up.

“The problem with a buyer waiting for the market to get better is that by the time they realize it has, it will be too late and they will be competing for their dream home with multiple offers.” Ron Young, Bluebell, PA

So the big question is, BUY NOW or WAIT?   Continue Reading »

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A Wirthlin Worldwide study showed that about 52 percent of women
and 40 percent of men ages 35 to 54 admitted their stress levels go up during the
holidays. Americans list lack of money (61%), the pressures of gift giving (42%), lack of time (34%) and credit card debt (23%) as their top causes of holiday stress reported by The American Psychological Association.
What do you do to reduce stress and enjoy the holidays?

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