Home Appreciation – Should I Short Sale? Great Question! You
read in the paper at least once a month about prices going up double digits and
you have to ask yourself will prices go up enough to get you back to even.
Truth be told we have had a number of clients lately that we have been able get
them out without a short sale. In the greater West Sacramento Metro-plex home
prices are up double digits from a year ago. Some reports are as high as 30% or
more. The caution here is to get an area expert to give you an accurate
estimate of what the market indicates your home will sell for. The broad based
median numbers that are reported can be influenced by the price point of the
homes being sold vs. actual price appreciation. For instance if more $300,000
homes sold this year and last year there was a greater number of $50,000 homes
sold, the median and average price would go up significantly and visa versa.
So back to your question
– Home Appreciation – Should I Short Sale or for the price to
come? The answer is more importantly, are you comfortable with the payment. If
you are 20% or more underwater the chances of you getting to even anytime soon
is not good. If you are less than 20% you might get back to even in as little
as 5-10 years. Do the housing experts truly expect prices to show double digit
year over year increase? Not that I have seen. Most are expecting 2013 to be a
correction year based on the market being undervalued relative to rents and
then see normal 3-5% appreciation going forward. The moral of the story is if
you are seriously underwater, don’t expect the market to pull you out anytime
soon
Is a West Sacramento Short Sale Right for Me?
Give me a call and let’s find out. We also offer a short sale lease back program for those who
qualify allowing you to short sale and stay in your home. Call me
for details
To get a better idea of when your West
Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free
estimate or call me today for a free no obligation consultation or for the
latest West Sacramento short sale information. Call me
today and sleep better tonight; you’ll be glad you did. Home Appreciation – Should I Short Sale?
No comments:
Post a Comment