What will 2016 bring for the housing market? If the predictions are correct, this year will be great for real estate. This month, I’m sharing information about what should be a bright 2016 for homebuyers and sellers. Want to learn more about what this year’s real estate projections could mean for you? Give me a call! And remember, I’m never too busy for any of your referrals.
The old joke amongst us Realtors is that short sales are ANYTHING but short! Many of us have experienced playing the waiting game for 6+ months waiting for the lender to approve the sale or not approve the sale, and then frustratingly have to start looking for houses again (on the buyer side) or start praying for a new offer (on the listing side) before the house goes into foreclosure.
Fortunately, things are getting better! The government and in many times, the banks themselves, have been implementing changes that make the short sale process a lot more user friendly! Fannie Mae (one of the largest loan investors) is really helping that now – read this article for more info – and I’m sure that’s going to motivate others to follow suit!
I am happy to report that my last few short sales have been much more streamlined and easier to close. Yes, I would still recommend 120 days to close, but for the buyer to get a good deal on a home and for the seller to be relieved of some of their financial burden, it’s usually well worth the wait for everyone involved.
If you or someone you know owes more than what your house is worth and can no longer afford to make payments, you may be able to avoid foreclosure with a SHORT SALE. Contact me for more information!
2012 predictions are full of hope, especially for us here in Kansas!
Everyone has been concerned about the so-called “shadow inventory” (homes that have been or will be foreclosed on) that will be hitting the real estate market this year; however experts have predicted that Kansas’ shadow inventory will be sucked up in less than 5 months. So, in theory, our market should be leveling off and even heading up by this summer!
If you are on the fence about selling your home, you may want to do so quickly before you have to compete with all the foreclosures though!
And if you are thinking about buying a home, the interest rates aren’t going to get much lower than they are now! Some people are getting 4% on 30 year fixed loans! WOW!