We all know that Money Talks, but when you’re buying a home is the seller even listening?

We all know that Money Talks but when you’re buying a home is the seller even listeningWe all know that Money Talks, but when you’re buying a home is the seller even listening?

Anyone purchasing a home has probably done it. You read all the real estate articles, ask as many people about it that you can, and over hear other potential home buyers ponder over it , as well. You sit there perplexed and ask yourself:

“How did they put in an offer for asking price, and not get an agreement from the seller?”

Even stranger to some is:

How did their offer get accepted when it’s so much lower than the one we made?”

Most people enter into buying real estate with a competitive attitude. “My offer will win over the others because I will offer the highest!” Unfortunately, this belief is often compounded by agreement from an agent/realtor. Of course, price is a high priority with getting a home off the market quickly (in our local market and all across the country, but sellers have many other items that they often consider when the offers start pouring in.  It is often the first step toward disappointment when you believe that offering asking price on a home makes it a done deal. Keep these key points in mind to better your chance of a successful purchase on your dream home.

The first item a seller must consider is “a deposit paid by a buyer to a seller to demonstrate intention to complete the purchase.”  In other words, this is good faith money or Earnest Money. This step is going to let a seller know exactly how serious you are about purchasing their home. The more earnest money you are willing to pay to the seller, the more trust you’ll gain from him. The seller wants to know that you have the funds to back up any offer that you make to him, and that you can complete your end of the deal with no problems before closing. It’s really security for the seller’s piece of mind.

Earnest money needn’t be confused with a hefty Down Payment. After years of a failing real estate market, sellers feel the need to be reassured. They have to consider:

“Can you be approved for a mortgage?”

“Is my house going to sit off market when I accept this offer, only to learn that the buyers can’t even get a loan for it?”

“Can they close this deal or will I end up wasting my time and my money?”

These are legitimate questions. In our local market alone, dozens of contracts fall to the wayside because a buyer can’t get mortgage approval. If this were to happen, the seller is left with nothing to show for months of waiting and negotiations. He’d have the same house back on the same market and have to go through the same process the next time. So, a large down payment is security, security, security! Once the seller is comfortable with your ability to produce funding for the home, you may feel the need to breathe a sigh of relief. Unfortunately, he still has more to consider.

Your Method of Financing is another item at the front of his mind. It’s easy to see why. The type of loan you apply for will directly affect how much money the seller may have to pay. For example, while FHA’s and VA’s may be very beneficial for the buyer, they can rapidly add to the out of pocket expenses applied to the seller.  The seller is looking to make the most for their home sale, not pay out piles of money at closing. One way to smooth his trepidation is to meet his Requested Closing Date.

If the person selling their home is still an occupant of the home, he may want to sell later rather than sooner. In most cases though, the home is unoccupied, or not leased and therefore not bringing in any funds to the seller. This type of seller will want to close as quickly as possible. It is important to know the seller’s situation and to close when it makes him the most comfortable.

Now, you will especially need to agree to a seller’s terms for closing and everything else I’ve mentioned so far if you have a little thing called Buyer’s Contingencies in your contract. These contingencies can range from having to get bank funding to having to sell your home you have now first. This can drastically slow down an otherwise smooth process. Sellers, most often, are not going to want to wait for you to sell your home that you occupy now before you can close with them. That’s putting their money off and reads as a big question of, “What if they can’t meet the contingencies on time?” that’s why it’s sometimes too big of a pill to swallow for sellers.

Next on the list of things sellers will consider is a Buyer’s Motive for purchasing this home. Seller’s can become extremely attached to their house, and almost feel as though they are losing part of their family at closing. These sellers are looking for a buyer who is going to nurture and love this home, taking time to perfect every minute detail and turning it into a forever home. Meanwhile, other sellers have no emotional attachment and don’t care if the house is resold, used as a rental property, lived in, or even torn down. These types of sellers will fare well with investors a lot of the time. Investor’s want the home quickly, so they can make minor changes and resale for a high return. You may need to feel your seller out on this topic because everyone is different and everyone’s reasoning isn’t the same either.

Another big factor for decision making to a seller is Local Market Conditions. The local market affects both a buyer and a seller. A buyer will, of course, benefit in a buyer’s market. Things, such as, the number of foreclosed homes in the area, low bank APR (interest) rates, and new home discounts are just a few perks to buying in this type of market. On the other hand is the seller’s market which benefits the seller tremendously. When the housing market is booming, APR (interest) rates are up, and houses don’t stay on the market very long before there is a bidding war between potential buyers, then the seller easily calls the shots. Do your homework and know your local and national market beforehand.

Of course, if you’re in a buyer’s market and have an excellent buyer’s agent (an agent who works strictly for the benefit of the buyer) you can often find out a Seller’s Motive as to why he has decided to sell his home to begin with. This could be very good for you! Let’s say a seller needs to be out of the real estate game in a hurry due to job relocation, they may be more likely to take a quick close offer or a lower price offer versus an asking price offer that would take a long time. This is usually a well kept secret by listing agents though. They don’t want their seller to be undersold. You may have to have your buyer’s realtor do some investigative work on this one. Good luck.

Finally, be willing to comply with Negotiations. Very rarely is a buyer going to hold the Ace of spades up their sleeve and control the direction on the contracted deal. The seller feels in charge. They have what you want. And, in a sense, they do often have the upper hand. Don’t let your deal fall through over issues that are really trivial in the long run, but don’t be a doormat and get walked all over either. You know what’s important to you and where you’ll draw the line. Know your happy median when in negotiations. Sometimes, you have to give a little to get a little. Keep that in mind.

So, now you’re asking yourself how you’ll know all of this when the time comes to make an offer. You’ll be wondering what type of seller he is and what type of buyer he’ll want. Unfortunately, you really won’t know. That’s why coming up with best possible offer on a home is so important. It may seem like a bunch of smoke and mirrors designed to trick a buyer, but really it’s not. The point of this article was to give direction and advice. Just don’t get caught up into thinking that meeting asking price is the only important matter. Work with a good buyer agent and mention all of the areas I’ve touched on above. You’ll feel more confident and in control, and you’ll be headed in the right direction for home buying.

Selling with Equity

modesto selling with equitySelling with Equity

The home you own is a risk-free investment that offers financial stability and a considerable return on investment. What is considered as capital gains on the sale of a home is now available as home equity. The primary goal behind selling a house is the profit acquired from home equity. In the real estate market, the term ‘home equity’ is the difference between the value of the house in the market and the amount of mortgage owed on it.

Now there are two types of equities: positive and negative. When you earn a profit from the sale of your house, you obtain a positive equity; but if the house is sold for less than what you owe, then you may taste the bitter experience of negative equity.

When to Sell For Positive Equity in Modesto?

In general, it is better to wait till a positive equity has accumulated before selling your house. This would enable you to walk away with a fat profit from the sale. If unfortunately you are forced to sell your house with a negative equity, you will find the task not only distasteful, but rather difficult. You would also need the permission of your lender for selling.

Equity Improvement

You can take several steps to improve the equity situation of your home such as home improvements. The term may sound fancy and expensive, but generally it is not. Home improvements require upgrading plumbing, cooling and heating, installing an electrical system, fixing the roof when necessary, and a bit of this and that. Homebuyers generally require assurance that the house is in a good and livable condition before purchasing it.

Quick Equity Improvements

Valuable improvements go a long way in improving your home equity, but there are certain improvements that don’t deliver a satisfactory return. For example, most kitchen replacements only provide a 50% return on what you originally spend on them. A quick way to frequently improve your home equity is a quick paint job every now and then, brightening up doors and cabinets. This works more than anything else. Home equity is additionally improved by cleaning up exteriors, repainting and tidying up the landscape.

Major Improvements

Major improvements are big tickets to boosting your home equity. A complete remodeling of the kitchen followed by the replacement or addition of a bath make huge home equity improvements. Homeowners generally spend a lot of time in their kitchens, and buyers with children tend to look for houses with additional baths and stuff. Remodeling and renovations definitely add more value to home equity.

So, keep this information in mind to be able to sell your property in a profitable way.

Call the Salonga Brothers – Your Key to the Central Valley

Eric (209) 480-3099 eric@castle-re.com

Jay (209) 985-2398 jay@castle-re.com

 

The Impact of Rising Interest Rates on Modesto’s Real Estate Market

modesto-rising-interest-ratesThe Impact of Rising Interest Rates on Modesto’s Real Estate Market

The past few years have seen interesting developments in the Modesto real estate market. . All those who have been active participants in this market must have noticed along the fall in the interest rates. Just as the market was expected to rebound and the interest rates to increase, both fell even further. In fact, never before has the market seen mortgage rates as low as 3%.

Real estate investors couldn’t have asked for more after the incredible cash returns they were able to achieve with favorable financing. Wouldn’t it be a dream to just sit back and contemplate low interest rates and low prices for years and years to come? It certainly would, but unfortunately it is also farfetched from reality. The past year has seen a major increase in the real estate values toward the pre-recession values, and it wouldn’t be incorrect to assume that an increase in the interest rates in the years to come is on the cards.

So what’s the impact of the increase?

There are many serious investors in Modesto who are watching the increasing values in the market with a growing sense of urgency. The reason behind their action is that they want to invest while the deals are still favorable. However, it wouldn’t do any harm to remember that while prices are important to watch, it is equally, if not more important, to keep a check on the rising interest rates. Interest rates are comparatively difficult to predict, especially as they tend to move in either direction at lightning speed without any prior notice.

The slightest change in market demand or policy can affect the mortgage rates or the investment returns in the blink of an eye. Just look at it from a cash flow perspective. An increase of 1% in interest rate is equal to an increase in the property value; and if you were able to acquire a loan at 4%, the principle and interest payment will be the same as the loan interest.

Simply stated, a 1% increase in interest rates portrays a difference in value in dollars along with a decrease of approximately 20% in monthly returns.  There is no other motivation for investors to finance properties before this incredibly bumpy ride settles down. While the opportunity still prevails, it would be smart to reap the harvests of financing in the range of sub 5% and make the most of the low interest rate.

Call the Salonga Brothers – Your Key to the Central Valley

Eric (209) 480-3099 eric@castle-re.com

Jay (209) 985-2398 jay@castle-re.com

Why You Shouldn’t Wait to Buy a Home in Modesto

Modesto, CA

Modesto, CA

Why You Shouldn’t Wait to Buy a Home in Modesto

Have you ever wondered why everybody you know wants to buy a home in Modesto? There are a number of logical reasons thatanswer this question. The most important reason of all is the real estate market of Modesto, which is currently flourishing. The real estate market is at its best right now, which makes it the perfect opportunity for you to invest in a house in Modesto right now.

Analytical individualsmight still argue over the wisdom of investing in a property in Modesto. So, here are three reasons to convince you thatbuying a home in Modesto right now is asmart thing to do.

1.     Forced Savings

If you’re living in a rented house, then the money you spend on monthly rent is going to waste as it will never cross your path again. However, buying a property works differently. Whenever you make a payment on a house you’re buying, part of the payment gets credited to your equity, which is basically money in the bank. You may consider it as a deposit in asavings account.

So, each time you make a payment, what you’re really doing is depositing money in your savings account. Granted that the entire payment does not contribute towards your savings, but a certain part of it is deducted as interestwhen the loan term begins.

2.     Appreciation

Appreciation is when the worth of your home goes up. Historically speaking, many homes have seen their values go up. However, with the recent freefalling, prices it doesn’t seem likely that the prices of homes will increase anytime soon. There is definitely hope that home prices will rise up in the next couple of years, but the good news is that you don’t have to entirely depend on the market. Here is where the term forced appreciation comes in.

It’s very simple. In forced appreciation, all you have to do is to make constant improvements on your home and force its value to rise. All that’s needed is a fresh coat of paint, regular upgrades, replacement of fixtures and whatever means necessary to make the house more attractive and user friendly. This will make your house the hottest catch in Modestoand will make its value soar sky-high.

3.     Tax Advantages

The greatest advantage among others is that thepayments of mortgage interests are tax deductible. The same goes for real estate taxes. So, when the time does come around, there will always be an extra bit of icing inside the refund check by the IRS.

Purchasing a home will help lower the bills even if you pay your taxes regularly every year. You may believe it to be some type of hoax, but purchasing your own house in Modesto will certain give you a raise. To add to the above, the income you make from your house through appreciation is completely tax free. Pure sweetness, isn’t it?

So what are you waiting for? Go get your hands on your dream Modesto home today and make all your financial fantasies come true.

Call the Salonga Brothers – Your Key to the Central Valley

Eric (209) 480-3099 eric@castle-re.com

Jay (209) 985-2398 jay@castle-re.com

A Short Sale Today is a Better Option Tomorrow

Modesto Short Sales

A Short Sale Today is a Better Option Tomorrow

Are you facing trouble paying off your mortgage? Fret no more. A short sale is the answer to your problem. If this is the first time you’ve heard this term, it’s about time that you find out what it is. After all, the term short sale has now become a very common phrase in the English lexicon.

So what is a short sale? It is the sale of a home in which the proceeds accumulated are less than the actual amount owed on the mortgage of the property. Another way to define it is by saying that it is a sale in which the lender agrees to accept less than the balance owed on the mortgage in order to avoid foreclosure.

Now banks have been practicing short sale for years, but it has only recently become a part of the public practice. This is because of the current state of the economy and the housing market.So why is short sale a better option for you? What would you obtain out of it? The following lines cover the answers of these questions and more.

If you think you will be able to foreclose your property and walk away with a clean slate and be done with the situation, then you are sadly mistaken. The reality is that you can’t possibly be farther away from the truth. In most situations, when an individual forecloses their property, they most often walk away with a tax liability and an outstanding due to the bank as well. However, you can alleviate your debt to the bank through a short sale. Sounds like a dream, doesn’t it?

You may have heard that if you are denied a loan modification, you will be denied a short sale. First of all, the proceedings of a loan modification and a short sale are handled by two separate departments. These two processes have nothing in common whatsoever. If your loan modification is denied, it does not necessarily mean that your short sale would be denied too. In fact, in most cases it is easier to get a short sale approved faster than a loan modification because the latter are not usually successful in reducing the loans low enough according to the consumer’s income.

This is undoubtedly the best feature of a short sale and it’s guaranteed to make you swoon with delight. Besides, a short sale does not cost you any money. On the contrary, you may be able to get anything between $3000 and $30,000 for participating in a short sale. In addition, in most cases, a short sale places you in a better financial position than before the sale.

These aside, a short sale would also help you preserve your dignity and save you from suffering the social stigma caused by a foreclosure. Moreover, it would also make you eligible to purchase another property in the space of 12 to 24 months.

However, short sales aren’t easy to handle. This is why you need to get a specialized realtor to help you with this. So, don’t hesitate to hire a professional to get your short sale done quickly and effectively.

The Major Consequences of Foreclosure

Modesto ForeclosureForeclosure is a legal process in which a bank, a lender, a mortgage company or any other lien holder attempts to satisfy a debt by taking over the homeowner’s property. The lender or the bank may sell the property to pay off the debt or may take ownership. Whatever the situation, it is severely damaging to the homeowner in a number of ways.

Sadly, not many people understand the actual consequences of foreclosure, which is why they agree to undergo them. If you have this process looming over your head, you need to know the aftermath you’ll be facing in the future.

Effects on Credit Rating

Foreclosure is bound to hurt your credit score. The extent of its effects may vary, but bear in mind that each late payment will eventually show up on your credit report. Apart from that, when a property does face a foreclosure, an entry is made in the section that covers legal proceedings. In addition, if you have other debts falling behind – for example, credit card, billings and car payments – the effect will be doubly damaging.

Tax Consequences

There is often a tax penalty which people never realize. In certain situations, if a property sells for less than the amount owed, the balance of the rest of the loan is normally forgiven.  However, the IRS considers this balance as its income because the homeowner would have had to pay it but managed to weasel their way out of it.  As a result, the homeowner is taxed on the difference between the amount of the house sold for and the actual amount owed.

Stripped Wages

Even if the bank or the lender has foreclosed your property, you won’ be getting out of your bad spill for a long time. In fact, a foreclosure can result in stripped wages and your inability to purchase other real estate for yourself.

Loss of Home

Foreclosure not only puts you in a terrifying financial position, but also renders you homeless since you’re forced to give up your investments in your home. The prospect of homelessness also puts you in the need of coming up with funds for housing, which includes a deposit and a month’s rent in advance to move into a new place. Sadly, many people take out cash using their credit cards only to end up getting themselves into a deeper financial mess.

Because of these, it’s always better that you go for a short sale. Even your lenders will like this option since it means less financial burdens for them. However, to learn about short sales and carry them out, it’s always a good idea to have a professional help you. So, get in touch with an experienced real estate agent to help you avoid the aforementioned issues and get what you deserve.

 

How to Buy an Investment Property

real estate investment modesto

How to Buy an Investment Property

Low interest rates combined with low home prices make this the best time to make a real estate investment. Add to that the fact that the Modesto real estate market has begun to recover splendidly and you have yourself the best deal. To buy a sound investment property without any hassle, here’s what you need to do.

  • Seek Advice from a Property Finder/ Buyers Agent – Ask for advice regarding the type of property that will capitalize your investment. A buyer’s agent or a property finder is the best person to get advice from as they know the market better and are a valuable resource. They are also helpful in negotiating deals with property sellers and/or their agents.
  • Consult a Financial Advisor or an Accountant – It is necessary to discuss your current monetary situation with an experienced individual who can give sound advice on diversified investments. This will help you be sure whether a property investment will improve your financial situation and whether you can afford to make repayments without crossing your budget
  • Study the Mortgage Industry – Learn everything you can about the mortgage industry and about the Modesto real estate laws. It is good to have at least basic information before you begin negotiations with the lender.
  • Look for Properties Within your Budget – Once you know how far you can stretch your limit, you can begin looking for properties within the Central Valley, the Stanislaus County in the cities of Modesto, Turlock and Ceres.
  • Make an Offer – Once you discover a good opportunity for property investment, do not waste any time in making an offer formally. However, make sure that the offer is to be in writing. Once a price has been agreed upon between you and the seller, arrange to have the contracts written.
  • Sign the Contracts – Make sure you sign and exchange all contracts in the presence of a legal expert. Before putting your signature on it, have a lawyer check the contracts for any irregularities.
  • Organize Inspections of the Property – Contact agencies which carry out inspections of property. You may have to spend $500 to do so, but it is an essential process, especially since it can save you from spending thousands of dollars if the property reveals hidden problems later on.
  • Signature of Mortgage Documents – To receive the loan, you are required to sign the documents handed to you by your bank. Read the documents thoroughly first and make sure that you understand the interest rate, mortgage account and all the fees involved. In case of any errors in the documentation, contact your financial advisor or lawyer.
  • Handling The Settlement Process – Once your lawyer confirms that everything is in place for the buying process, the settlement date is to be confirmed. In case you don’t know what that is, it is the day when you obtain legal ownership of the property.

If you follow these steps, you will soon be the proud owner of a Modesto Real Estate property.

Is There Another Real Estate Bubble Heading This Way?

modesto real estate bubble

Is There Another Real Estate Bubble Heading This Way?

The real estate market is recovering so well that it might cause some to wonder whether a new bubble is in process. The fear of another real estate bubble blowing is completely unwarranted.  The reason is that even with the recent increase in prices, the prices of national home remain 7% undervalue. National home prices remain undervalued in connection to fundamentals and much lower than in the previous bubble. That is the reason why today’s price gains are not a bubble, but actually a rebound.

The fundamental value is above the prices vastly in a majority of the country. Even in those certain parts of the country that remain overvalued, they come nowhere close to the percentages that were seen in 2006-2007. For example, consider the most overvalued markets of today. In Orange County, the prices are overvalued by currently 9% whereas the prices of the same region in 2006 were overvalued by 71%. Austin is the second most overvalued market of today. The Austin prices were shown 12% overvalued at that time.The real estate prices did not skyrocket as they did during the last boom in many other parts of the country.

Prices remain undervalued in 91% of the markets today. Even those markets that remain overvaluedare nowhere close to the 2006-2007 bubble’s numbers. Despite the recently sharp increases in the prices, they are still relatively low enough for fundamentals to steer clear of the bubble levels.

If all that still hasn’t put you at ease, here are three reasons which ensure that another bubble won’t be affecting the real estate market any time soon:

  1. Increase in Supply – Prices have been caused to rise by a lack of inventory that has created a market of multiple bids. As revealed by the latest report of The National Association of Realtors, there has been an increase from 4.3 to 5.2 in the month’s supply of inventory.
  2. Certain Demographics Will See an Increased Demand – Over the last several years, a large part of the housing market was owned by investors. As the prices continue to increase, a definite percentage of these investors are bound to back off.
  3. Increased Mortgaged Rates Would Render Buyers Incapable of Affording More – An increase in the mortgage rates has been projected by the bankers association over the next year. Buying powers will slide down as borrowers would no longer be able to afford the same price position as a result of the increased monthly payments.

These are the three major reasons that render the collective fears of a rising bubble unfounded.

Why This is THE Time to Buy an Investment Property

modesto_investment_property

Why This is THE Time to Buy an Investment Property

It is no secret that the Modesto Real Estate market is once again in the recovery mode. It has yet again to become a seller’s market, but the property market has showed signs of steady improvement. This is why people are starting to wonder if investing in a Modesto Real Estate property now would be a good idea.

The answer to that is definitely ‘Yes’. Investing in real estate at this point is perhaps the smartest thing you’d ever do, especially since the market is currently at its best as compared to the last thirty years.

Real estate professionals are capable of making the case possible for buying any time. However,now is truly a good time to purchase an investment property if you are in the market. Here are fourreasons why.

  1. Low Interest Rates – The interest rates have never been as low. It wouldn’t be exaggeration to say that it is unlikely the market will ever see interest rates as reasonable in future as they are now.
  2. Values Low – As the market is bouncing back to normal, home values are still moderately low. Low home prices and low interest rates make a perfect match for the perfect buying storm.
  3. More Pent up Sellers and More Pent up Properties Now – There are many distressed sellers present in the market right now. A distressed seller is a person with a property theydesperately want to sell off.  In reality, a lot of people may be struggling right now. Targeting such sellers is not going to be predatory; in fact you would only be helping them while helping yourself.

Another distressed aspect is a distressed property, which needs a little cosmetic work to make it marketable; for example you can consider landscaping and a little bit ofpaint to bring it up to par.  Distressed properties and distressed sellers both provide a lower price and the availability of creative financing options.

  1. Alternative Financing is More Available than Before – Many people think it is impossible to invest now because getting a loan is more difficult than before. It is true that most banks are not too lenient with lending anymore, but that does not put an end to investment opportunities for you.

The option of seller financing is more available than ever. It is just like it sounds. In this instance the seller, who is sometimes the owner, acts as the bank and provides the finance. In many cases, it is done for no down payment. This is a better alternative for newbieinvestors because the odds of getting a bank loan are even smaller for them as compared to an experienced investor.

So now that you know why 2013 is a good year to invest, do not miss out on the best opportunities to own a Modesto Real Estate investment property.

The Benefits of a Short Sale in Modesto

Benefits of Short Sale in Modesto

Benefits of Short Sale in Modesto

The Benefits of a Short Sale in Modesto

The crash of the real estate market and the economic downturn combined to pitch a number of owners in distress of losing their homes. However, the process of foreclosure can be a very lengthy, stressful and extremely damaging to the homeowner’s assets, savings and credit. If you were asked to go through the same, there’s a miraculously easy escape from the hassle of this process: arranging a shortsale. Not only does this procedure take comparatively lesser, the Benefits of a Short Sale in Modesto is also less damaging than a foreclosure.

If this is the first time you’ve heard about short sales, you need to understand that it is a transaction in which the lender allows the borrower to sell the house for less than the amount of mortgage owed. All the borrower has to do is find an efficient agent and put the house for sale on the market at a sizeable discount. Once the property is sold, the lender gets the amount the homeowner owes. As a result, the lender saves any expenses and prevents the pains associated with a foreclosure suit.

Now all of that may seem attractive to numerous people, but what about the homeowner giving up their property? What do they get?

To answer that question, homeowners benefit immensely from choosing short sales. Here are Benefits of a Short Sale in Modesto:

  • You won’t need to make any mortgage payments unless you voluntarily choose to make them.
  • You will get the chance to meet the new owners of your former home.
  • You will be eligible to purchase another property immediately if your credit report does not display a 60-day plus late pay.
  • A short sale protects credit. If you manage to short sell your home before it goes into foreclosure, your credit as a homeowner takes less of a hit. Looking at it from a lender’s perspective, it too is definitely better to recover a segment of the mortgage loan rather than face a total loss. Therefore, in lieu of a foreclosure, a lender preferably opts for a short sale as this allows both the homeowner as well as the bank to end up in a better financial position.
  • The average legal cost of a foreclosure, including any additional costs of a lengthy foreclosure process, can turn out to be the tip of a huge iceberg of financial burden to the homeowner. However, a short sale can drastically reduce the financial burden of the homeowner. After all, it can decrease the amount the lender or the bank may try to recover from the homeowner.

So, if you’re ever faced with a foreclosure, make sure to choose a short sale since it’s more homeowner and lender-friendly. Also, get a professional real estate agent to handle this for you since you may lack the experience required and don’t have the time to gain it.

For assistance on your short sale, contact Eric or Jay with the Salonga Brothers – Your Key to the Central Valley.

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