No, not if you don’t have to, but foreclosure is for the uninformed, or those who just don’t care. The short sale option is the only way to go if you can’t get a modification that you can afford. Sell the place and find yourself a nice rental for a short time and then take advantage of the market prices and interest rates and buy a place you CAN afford.

Here is an interesting article from CNN. http://money.cnn.com/2010/03/29/real_estate/short_sale_explosion/index.htm?section=money_realestate&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_realestate+%28Real+Estate%29 

Please call me if you have any questions at all!

It will be nice to see housing start a slow methodical climb.

Former Federal Reserve Chairman Alan Greenspan says U.S. house prices appeared to have bottomed out but were still fragile and that the country would not be out of crisis until prices stabilized.

While the economy is recovering, worries linger about continued weakness in the housing and labor markets.

The direct quote from Mr. Greenspan:

“We will not be out of this crisis until home prices truly stabilize in the United States. They appear to have stabilized but they are very fragile,” “Eventually housing will come back, it can’t get any lower,”

This was stated by Greenspan in a conversation with Mexico’s former Central Bank Governor Guillermo Ortiz.

The “it can’t get any lower” is the best part of the news, but it seems he expects a period of stabilization before growth.

Anyway,  interest rates are low, prices are at 2003 and 2004 levels and there are plenty of government incentives around.  Go find a place to buy.  Want one in San Diego?  Call me!

Interest rates are incredibly low- historically low. REO’s and short sales are all over the place  -  FIND SOMETHING.

The largest expense in your lifetime and you can get a real bargain. You know what the worst part of this is? In 5 or 10 years 90 % of you will be saying I wish I had,  I should have , if only I had,  I wish you had told me.

I am telling you  -  buy something now. There are FHA loans with 3.5% down and other loans with 5% down.

The other 10% will be rich and comfortable because you DID while others watched.

visit my site at   www.athomeinsd.com

Have an incredible day

Alan

Foreclosure is passe.  Nobody does those anymore – they are for previous generations.    We are in a position to make this a reality.

Short sales have become the largest category of distressed property transactions, accounting for well over a third of these transactions, according to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions.

I can’t stress it enough  – call a rwaltor and do a short sale  – compared to foreclosure, there is NO downside.

Short sales have become a preferred means of resolving mortgages in default, both for large lenders and for the government agencies supporting lenders’ efforts. Short sales typically result in lower lender losses and houses left in more saleable condition.

Moreover, borrowers that agree to a short sale can often buy another house with mortgage financing after only two years. For borrowers going though the foreclosure process, mortgage financing can be unavailable for a period of five to seven years.

Want to discuss it?? Call me today – from anywhere – I’ll find you an agent and probably someone to buy your house and if you are in San diego, Your in luck, my team of experts will make it happen for you.