Tagged : short sales
There are currently 2 blog entries matching this tag.
Tuesday, October 19th, 2010 at 2:13pm. 1669 Views, 1 Comments.
I am finally writing the most overdue blog post EVER, the long winded answer to the question I probably get asked most often: What is a short sale? Quite simply, a short sale is when the owner of a property owes more than the house is worth and they ask the bank to accept an offer less than this amount in lieu of going to foreclosure. For example, a seller has a houses listed for $100,000 and they owe $125,000 on the mortgage. They receive an offer from a prospective buyer for $90,000 and ask the bank to take a loss of $35,000 instead of taking the home to foreclosure, re-listing it, and selling it themselves. Sometimes it works and sometimes it does not.
Now, the gory details. If you are the buyer or potential buyer of a short sale you MUST know…
Monday, December 28th, 2009 at 4:58pm. 1925 Views, 2 Comments.
Since everybody is always so interested in Fishers foreclosures and Fishers Indiana short sales, I thought it might be interesting to do a side by side comparison of active, pending, and sold homes in Fishers vs. foreclosures, short sales etc. On the left will be all Fishers homes and on the right will be all homes in Fishers that are distressed (bank owned, short sales, HUD, and VA) and the solds will be from 6/1/2009 to today:
|All Fishers Real Estate||Distressed|
|# Active homes||568||73|
|Average asking price||$291,119||$287,381|
|Asking $/ Sq. Ft.||$107||$91|
|# Pending homes||107||31|