Can you believe that between Weymouth MA and Quincy MA that there are currently twenty-six single family properties offered for sale as a Short Sale? And yet another thirty-one more condos to add to that number? Â And twenty-eight properties in the last six months have been sold as completed as short sales?
Well as much as it appears that the local real estate market has shown some signs improvement, and myÂ Market ReportsÂ indicate the same, it also appears that there is no shortage of people who owe more than their home is worth - even locally.
"Oh, that doesn't happen here." Â We have all heard that before, that the bad news in the real estate market is in other communities, not in our backyard. Â The facts don't lie, in the Plymouth area, there are over 57 homes for sale now that are short sales. Â Short Sales may very well become part of the new normal. Â And you owe it to yourself to learn about this market lexicon.
What is a short sale? Â In very simple terms, a short sale is a real estate transaction where the seller sells their home for less than is owed on the outstanding mortgage(s), and the lender agrees to release the mortgage on the property for less than the lender is owed. Â Thus the lender is left with a short fall on the balance of the note. Â In some cases the lender may well forgive this short fall, but not in all cases. Â Also, Â it is worth pointing out that lenders will not simply agree to a short sale simply because you owe more than your home is worth. Â There needs to be a valid hardship before a lender will even consider allowing a short sale. Â I have written a longer blog post called, "Massachusetts Short Sales, Everything You Always Wanted to Know But Don't". Â This post covers the topic in much more detail. Â I have also up loaded a video on Massachusetts Short Sales.
When selling a home inÂ and around Quincy MA, it pays to have a pro in your corner representing you. Â And this is even more important when attempting a short sale. Â Will your agent dominate Google with an Internet presence? Â Click here to see a brief overview in my online marketingÂ Flip Book Presentation. Here is list ofÂ Real Estate interview questionsÂ to ask when interviewing your agent, that will help you determine if you are hiring aÂ successful brokerÂ or not! Â Curious about a short sale because you owe more than your home is worth? Â Go toÂ MassForeclosureHelp.comÂ and get answers to your questions.
About the author:Â The above Real Estate informationÂ about Weymouth MA Short Sale Homes For SaleÂ was provided by Bill Tierney, an Internet savvy REALTOR who covers the South Shore real estate market for Virtual Homes Real Estate. Bill can be reached via email at William.Tierney@VirtualHomes.com or by phone at 617-653-1955. Bill has been a licensed real estate agent for over seven years.
Thinking of selling your home or condo? I have a passion for Real Estate and wouldÂ love to share my marketing expertise! I specialize in leveraging todayâ€™s technology, such as social media, to maximize your homeâ€™s exposure.
For Massachusetts andÂ Quincy MAÂ Homes for SaleÂ and condos see Quincy MA Real Estate for Sale.
Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at myÂ MLS Property FinderÂ service.Â I service the following towns on the South Shore: Cohasset, Hingham, Hull, Scituate, Marshfield, Norwell, Weymouth, Quincy, Duxbury, and Kingston.Â Click here to viewÂ Bill Tierneyâ€™s Real Estate Profile.