Episode 29 – Short Sales Unraveled

Podcast: Play in new window | Download (Duration: 29:26 — 41.0MB)

As a special treat we have included a video of the podcast, so you can see how the magic is made.

This week Mark and Adam talk about the current Long Beach housing market, low inventory but strong buyers and some recent programs and news which will most likely keep us in the same stagnit market we see today.

Onto more interesting topics, Mark and Adam break down the different scenarios and options if your house or investment property is currently worthless than you owe. What is the reality of the situation, what are your options and what should you do?

Numbers
Adam talks about the May numbers in Long Beach and compares them to last year and for some excitmenet numbers in May of 05. Over all year over year, we are at a wash, with little to no gain in price or volume. In looking at today’s market verses a boom market, Adam looks at 2005 numbers and the most significant different other an a 33% increase in price was the average time to sell a home was only 30 days verses the 89 day average today.

News
Mark talks about a couple of annoucements and goverment strategies that are putting increased pressures to slow the foreclosures and assist individuals keep their home.

Short Sales Unraveled
Now to the good stuff. Mark and Adam unravel short sales and break down whether or not short selling a home is right for you and what are the major reservations most individuals have about Short Selling their home.

1. The Finances – short term, long term impact
2. Moral Debate – I made a committment
3. Recource – What happens if I do short sale

Each of these issues are broken down and show you how and why NOW is the time to short sale your home and what risks you are taking if you don’t. You will be surprised at what the reality is.

So, tune in get the goods and let us know your thoughts and if you have a property that is underwater, call us NOW!