Short sales tend to pick up in times of declining home values.
Due to the incredible inflation in the US, borrowers have less money to make their monthly mortgage payments. They also don't have the funds to put into maintenance and repairs.
Eventually their house is worth less than is owed due to neglect.
This is known as having an “underwater” mortgage or negative equity.
This presentation will be geared especially to Real Estate Brokers!
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No, it's not happening yet, but economist are warning that by some time in 2025 we will see a massive turn-around in the housing market.
- Foreclosures have already ticked up heavily in the area.
- Why? Most real estate gurus say it's because of the loss of housing payments made during Covid-19.
- Housing prices have not dropped yet, but many houses have lost value due to the wear and tear that the resident has induced on the property.
- Therefore making the house worth less than the amount owed.
...And then comes the event where they have to sell and move...
Come learn about Short Sales, the laws, and the way to be a Short Sale Specialist!
Eat with us!
There will be a potluck! If you like, you can share an item of your choice.