Home Selling in Cape Coral>Question Details

Rossana, Home Seller in Florida

I have a house in Cape Coral and would like to sell it. Is the market still down there?

Asked by Rossana, Florida Tue Jun 17, 2008

What happen if the market price is lower than the mortgage loan? Is there any solution to sell?

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3
Rossana, Yes the market is still down and how much depends on what you paid for the home! I would need more info to give you exact details on what your options are! I would be very happy to do a Comparative Market Analysis for you so you can see what your home is worth and then you will be able to make an intelligent decision! It sounds like you may be a part time resident and if that is true and you would like to keep up with what is happening in Cape Coral please check out my blog where I post frequent Cape Coral news! Here is the link: http://www.activerain.com/blogs/capecoralbroker!
Good luck and I hope everything works out!
0 votes Thank Flag Link Tue Jun 17, 2008
The Market is still low here and prices will not be increasing any time soon. If you owe more than your property is worth, you can "Short Sale" your home if the bank that you have your mortgage through will approve. Usually you will have to provide them with financials and price opinions as to the value of your home by a professional. It can be a complicated process but not overwhelming if you work with a local Realtor who is familiar with the process.

Terra Anderson
Southwest Florida's Family Realtor
Century 21 Sunbelt Realty
239-590-5731
terraanderson@yahoo.com
http://www.welcomehomefortmyers.com
0 votes Thank Flag Link Tue Jun 17, 2008
That would put you in a short sale situation, You would need the bank to qualify you for that. These are very difficult and can take a long time but they are an option. Let me know if you want to learn any more about it.
0 votes Thank Flag Link Tue Jun 17, 2008
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