How Can A Short Sale Benefit The Seller?

How would it feel to lose your dream home for no fault of your own? Financial problems characterize each of our lives and none of us really know what will affect us when. However, we cherish our dreams and make enormous efforts towards realizing them, oh which some of us come true, some do not, while some we lose reaching almost the threshold of acquiring. A breathing reality that is so much common in all of our lives is the threat of facing foreclosure and eventually losing home to some unwanted agency. Mortgages do have their benefits, but the slightest folly on your part can transform mortgages into deadly nightmares.

There are several turns and twist that characterize our career. Moreover, we have regular needs to meet in terms of ourselves as well as our loved ones, which is why the added worry regarding losing your property due to the inability to repay your mortgage is what none of us would want. However, your mortgage company is after all a business entity and would not want to empathize with you at any given instance. And what is the result? Your property, your own dream home, is under threats of property foreclosure or forfeiture by the lender company.

However, things are still not beyond your control only if you know how to take good care of your property. A short sale comes by as an assured relief here, whereby you can sell your home to someone at a price lower than the mortgage balance (or, less than the loan balance). So how do you profit from such a transaction as a seller? You are the one who wins in the run by being able to avoid foreclosure of your property by selling it of before the actual real estate foreclosure auction takes place. However, this possibility would have never existed if you would have lost the home to the mortgage company.

It is immaterial what you owe to the bank or if your property is less than that value. As a homeowner, you can save yourself all the trouble related to foreclosure sale and also save a lot of money on conducting such an event. If you would have tried selling your house following a normal procedure through a realtor, it would also have cost you a lot of bucks. However, by a short sale of your property, you can actually save some thousands of dollars. At times, it is also possible for you as the homeowner to make some money from this deal and keep it for your personal use. Evidently, you are out of money and this cash is going to be of some relief to you and your family.

Your mortgage company will readily accept the cash you provide them because through short sale of a property they can save themselves from a lot of trouble in dealing with the sale of the property under question. They will save a lot of time, labor and some thousands bucks by allowing you to short sale your property and repaying them their balance mortgage amount.

Four Reasons To Offer Seller Financing

An example of seller financing: Years ago I bought a rental property, and nine months later sold it for 15% more, without fixing or improving a thing. The easy terms are what sold it. I took $1000 down, and I still get a payment every month, with 9% interest.

Four Reasons To Offer Seller Financing
1. To get a higher price. As you can see from the example above, buyers pay for easy terms. From the buyers perspective, he gets a place for almost nothing, that the renters will pay for. He comes out okay even if he later sold it for less than he bought it for.

2. To get a decent return on your money. The 9% I'm getting is nice, but the true return was much higher, since I also sold the property for 15% more than I paid, and I get 9% on the entire balance. In fact, for a great return without the headaches of being a landlord, you can simply buy low for cash and sell high with terms.

3. To sell faster. Anytime you expand the potential market for a property, you increase the odds of selling it fast. Selling with easy terms definitely invites more buyers to look at your real estate.

4. To sell difficult properties. If you have a property that is difficult to finance conventionally, offering seller financing may be the only way get it sold, and at a fair price.

Of course the ways you can sell are limited by mortgages and other loans. I owned the rental free and clear, which meant I could sell it any way I wanted. There are other ways to use seller financing though, even if you owe on the property. There are ways to do this safely too. Those topics are for another article.

Real Estate Market Reaches Equilibrium between Buyers and Sellers

Three months ago, the "Current Market Conditions" survey showed that overall the U.S. housing market was displaying a rare balance between buyer demand and seller supply for the first time in eight years. The latest quarterly survey shows that equilibrium has been achieved -- 41% of real estate agents said more buyers than sellers; 40% said there were more sellers than buyers, and 19% reported a 50-50 balance.
Most notable exceptions are in the Northeast, Chicago metro area, and in the Western states. (See Second Quarter chart.) Home buyers outnumber sellers by considerable margins in Chicago and the West, while sellers outnumber buyers in the Northeast.
Additional proof of a balanced nationwide housing market between buyers and sellers was reported by the National Association of Realtors, which estimated a 6.5 month supply of unsold homes in its May report. An inventory supply of 5.5 to 6.0 months is considered balanced.
The second quarter national survey also found:

• Fifty-six percent of real estate agents said it is now on average, taking more than 60 days from listing to contract to sell a house. This is up from 55% in the first quarter and 35% a year ago. Twenty- eight percent said it is taking more than 90 days to contract. Only 15% of existing homes for sale are selling in 30 days or less.

• Housing inventories are continuing to increase: 86% now report a good supply of homes in virtually all price ranges. This is up from 81% in the first quarter and 38% a year ago.
• Sixty-six percent of member agents reported that annual home price appreciation is now five percent or less. This is down from 8-10% a year ago. Home price appreciation of more than 10% is now 16%, on average.

• The percentage of home sellers getting 95% or more of asking prices is currently 68%, compared to 90% a year ago. Three months ago it was 75%.

• Multiple offers from home buyers are also down substantially. Currently, the estimate is 32%. It was 39% in the first quarter and 70% a year ago.

• First-time buyers still account for one of three homes for sale nationally. Repeat and move-up buyers are most active in higher priced real estate markets. Recent home price appreciation and rising mortgage rates & interest rates have had only a minimal negative effect on first-time buyers, on average. Exceptions are marginal qualifiers.<

"We welcome a balanced, more orderly marketplace for both the consumer and real estate professionals," said Michael Bearden, president and CEO of HouseHunt, Inc. "Double-digit price appreciation is simply not sustainable for a multi-year period and will eventually drive away entry level buyers."
Second Quarter Current Market Conditions Survey: Regional Results
U.S. South Midwest Northeast West California* Chicago*
More Buyers
41% 40% 49% 30% 47% 39% 50%
More Sellers
40% 44% 30% 50% 34% 41% 19%

50-50
19% 16% 21% 20% 19% 20% 31%

Time on Market:
0-60 days
44% 35% 31% 48% 49% 49% 35%

More than 60 days
56% 65% 69% 51% 51% 51% 65%

Sale vs. Ask Price:
90-95%
35% 35% 29% 37% 26% 29% 34%

95% -100% Plus
65% 65% 71% 63% 74% 71% 66%

Annual Apprec.:
5% or less
66% 57% 70% 73% 65% 75% 61%

5-10%
18% 30% 20% 19% 15% 11% 31%

More than 10%
16% 13% 10% 8% 20% 14% 8%

Inventory:
Good Supply
86% 86% 90% 96% 83% 90% 92%

Limited Supply
14% 14% 10% 4% 17% 10% 8%

Multiple offers:
Yes
32% 35% 33% 34% 32% 18% 55%

No
68% 65% 67% 66% 68% 82% 45%

Activity:
First Time Buyers
33% 34% 41% 47% 42% 44% 35%

Move-Up & Repeat
67% 66% 59% 53% 58% 56% 65%

*California survey percentages are included in both U.S. and West results.
**Chicago Metro survey percentages are included in both .U.S. and Midwest results.

Buying A Property In Bulgaria - What To Expect

It is great that you have decided to buy or invest in property that is in Bulgaria, but you may not know what to expect. When buying in Bulgaria, you can expect a lot of things, from great priced real estate to a variety of types of real estate to buy. Bulgaria is a land full of property waiting to be invested in, that is what you can expect when buying in Bulgaria,

Depending on what city in Bulgaria you are choosing to get property in can vastly change the type of property available. For instance, if you were to get property in Sofia, the capital of Bulgaria, then you would most likely be looking for apartments or maybe a house, since Sofia is the most developed property market in Bulgaria. Now, there is a broader range of what to expect on a real estate market through out Bulgaria and is as follow:

Beach apartments: One area in Bulgaria is known as Sunny Beach, it is an international beach resort. There is private land hear to build apartments or holiday villages. Of course, this means that there are apartments available for rent or you could buy one and rent it out. There are other beach resorts in Bulgaria where the same sort of real estate market is, just not to the same potential as Sunny Beach.

Ski Resorts: Of course there are ski resorts in the mountains of Bulgaria. These are probably the most difficult to obtain property in, but it is possible to find it in some resorts. Your best bet here is to buy some residential property in one the neighboring villages and rent or live in it there.

Let's not forget to mention the properties available on the Black Sea. This does fall under the category of beach apartments, and Sunny Beach is one of the resorts on the coast of the Black sea. The reason in mentioning this is that you may be able to find some great summer houses along the coast of Bulgaria. If you do not want to visit it yourself, you can always rent out your summer house.

Residential Real Estate: there are houses, apartments, condominiums, and more. Depending on your current citizen status, you could even buy some land and build a house in Bulgaria. All of these types of residential properties can be for sale or for rent, heck you can even buy your property and put it up for rent. It all depends on what you are looking for and what your needs are.

When buying in Bulgaria you can expect a wide range of property to be available, some at reasonable prices and others a little high priced. It all depends on what you want and where you want it. Rest assured, your real estate dreams can come true when you are buying in Bulgaria because of the vast number of properties and property types that are available. When buying in Bulgaria you can expect anything.