What is a Short Sale

A short sale is when the seller's bank is owed more money (the note) than what the current market will bear (fair market value). The bank may agree to what is called a short sale, thereby accepting less than what is owed to them. Keep in mind that the seller is sometimes responsible for the difference between what is owed and what the property ultimately sells for. This difference is handled through a 1099 given to the sellers at closing for tax purposes.

Under Construction

Hello Everyone and thanks for visiting my blog! I'm excited to provide you all with valuable information pertaining to the real estate industry and encourage you to contact me with subjects so I can help everyone understand everything there is to know about what's going on in Real Estate these days. Now, I know most of you are listening to the doom and gloom preached by all the media, but the simple fact is that all real estate is local! We are still experiencing good activity in the Greater Portland Real Estate Industry!!! There has never been a better time for buyers to purchase their dream home. There is help for everyone.
I also want to stress to sellers that there are options for you. Even though you may not be selling at the top of the market, you will be purchasing at a lower market value which should offset your sale.
In these tough economic times there are many of you who don't know where to turn to for help on saving your mortgage. Please be assured there are options! Don't just give up. I'm here to help everyone - buyers and sellers. It's not just about the sale for me. It's about helping people with any real estate related questions you may have. I welcome your calls or emails anytime, for any simple question.
Please also understand that all matters are considered strictly confidential.