Susan Hilton College Station Real Estate
Realtor & Vice President of Sales of Bryan College Station Real Estate
Read my blog below
June 30th, 2012 Categories: Selling
If you are trying to selling your home at this point in time, you have probably noticed it is not always so easy! Sales and prices have been dropping over the last 5 years and are still dropping in most of the country. To make matters worse, this is something we can’t expect to turn around over night.
With the current sales pace, it would take 8.6 months to clear out the 3.5 million existing homes listed today.
After hearing all this bad news you may wondering, where is the good news?? Well get happy because here is some good news!
You have to convince your buyers your home is a GREAT DEAL! That means lowering the price, and/or getting someone (perhaps a professional) to make it look nice, and even having your Realtor create a website for the home!
Here are some tips on how to do some of this –
Do not set your price to high. When your house goes on the market it is important Read the rest of this entry »
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Summer fever has hit Bryan College Station! Families are preparing lists of what needs to be done for vacations and summer school, and moving season is upon us. The sunny, warm weather that Texas has to offer brings in buyers from all over and the sun that shines through home windows provides an extra homey feel that winter lacks. If you are interested in selling your home in the next couple of months, there are a variety of things that you can do to make your home even more appealing to buyers.
Buyers are eager to find a house that fits their budget and requirements over the summer, due to the holiday break that it provides and children being between school years. Often, all that a potential buyer needs is a small push to go ahead and make the purchase.
Sprucing up your home by doing a bit of summer cleaning will make it irresistible to your potential buyer. A few quick tips will take off the grime that tends to coat the majority of houses as a result of their daily use. Taking a couple of extra minutes to go beyond traditional cleaning and make your home smell pleasant will add a distinctive attraction.
Even if cleaning and organization is not your strong point, it is not difficult to follow a few easy steps to set your home in order. One thing that you can do is create your own customized checklist. Walk through each room of your house with a notepad and write down any grimy areas of the room you are in or anything that needs fixing.
Here are several ideas that could be included Read the rest of this entry »
Discussion: 10 Comments »|
Working with buyers and sellers of the Brazos Valley I have learned that we BUY HOMES but when we lose them to foreclosure they are now just HOUSES. We want to move into a HOME for our families but when times get tough and someone gets behind on their home mortgage the bank only considers it a house – an asset.
So, if you have gotten behind in your home mortgage and you have not been able to successfully complete a loan modification the bank is going to start down the foreclosure path. Of course you may be able to bring your loan payments up to date but otherwise your options are very limited – there are no more loan options that allow you to stay in the house.
At this point our goal changes. It goes from helping you keep the home and changes to giving you more control over how you leave the house.
WHAT IS A FORECLOSURE?
When someone does not make their loan payments following the agreement made through the loan documents then the bank will foreclose taking back their asset. Foreclosure is a LEGAL process. During this process the lender (one who owns the mortgage) sells the property to recover the unpaid loan amount. Normally this process begins 30-90 days after you stop making payments. At the foreclosure sale on the first Tuesday of each month at the county court house, the lender will become the property owner if no one else buys the property. In Texas most foreclosures are non judicial – no judge or lawsuit is needed.
POSSIBLE CONSEQUENCES OF A FORECLOSURE
- negative credit rating
- difficulty in being approved for credit in the future
- higher interest rate for loans
- higher insurance rates
- eviction from your home
- house is sold
- deficiency judgement
- legal costs
- tax consequences
- and possibly more!
- sale of the house to someone else
- CALL ME and let me work with you to see if you qualify for a short sale or can get a loan modification!!! Bryan & College Station homeowners behind on their payments should NOT have to go to foreclosure! There are options!
Discussion: 2 Comments »|
Since going through a foreclosure is one of the most traumatic things that can happen with a family, outside death or illness, if this can be prevented let’s choose THAT option!
Bank of America has published a Home Transition Guide to help provide specific instructions on how to go through the process.
Remember if you are behind on your payments you have several options –
- Make up your payments
- Loan Modification through the lender
- Short Sale so you can get out from under the house payment
- Deed in Lieu of Foreclosure so you can give the house back to the bank without having a foreclosure
- Foreclosure, Eviction and Relocation
Over the next few weeks I will be amending this post and adding links for each of the above topics. I will also be posting ideas and plans for homeowners to consider. My one request is… PLEASE don’t wait until the bank starts calling. If you find you are going to miss a house payment CALL ME and let me help you communicate with the bank and figure out if a loan modification or short sale is an option. The last thing you want is to get behind in your payments, not be able to catch up, have the house foreclosed, be evicted from the house, and then after you lose the home…. owe INCOME TAXES ON THE BANK’s LOSS!!!!!
Last week I had someone call saying they purchased a home, lost their job, lost the home to foreclosure, ruined their credit for years and thought it was all over. NO! Now they have received a letter stating they had a loan guaranteed by the federal government and now they STILL OWE $58,000 MORE. If they had $58,000 they would have made their house payments. If they cannot pay the $58,000 this debt will be reported to the IRS and is now a federal lien which will not go away. If they had gone through the Short Sale process rather than the foreclosure process this could have been avoided. So, Don’t Wait if you are behind in your payments!!!
Discussion: 4 Comments »|
Nowadays, a family pet is considered an essential part of the majority of households especially in Bryan College Station, Tx. It is also one of the determining points when buyers are scouting for a brand new residence. In accordance with the American Pet Products Association’s 2009/2010 National Pet Owners Survey, 62 percent of U.S. households are pet owners. Forty-five percent of households have dogs as their pet, while thirty-eight percent of households own cats.
Here are the helpful hints to ensure that you get a property that meets the needs of your pets.
Obtain the essential information
Discussion: 19 Comments »|