Minnesota Short Sale Homes
I don’t know what the total number of American households underwater with negative equity is, but I am hearing some pretty big stats these days. I thought I heard 30% of the USA and climbing by the day, this may be based on people that bought since 2003, which is a lot of people. Something as simple as 5% more depreciation in homes and it could be quite a bit more. If you don’t believe me watch this video
http://www.mortgagenewsdaily.com/video/embed.asp?id=1777
That has now been followed up with a story about how 25% of sales from the past 12 months have resulted in a loss to the home sellers , meaning they sold the house for less than what they orginally paid for the house. This number could climb if houses keep going down. These articles are saying that Mercid, California and Stockton, Californiareally got hit hard.
Check out that link here for the article:
http://money.cnn.com/2008/08/13/real_estate/sellers_suffering_huge_losses/index.htm?postversion=2008081317
The end of the article talks about the short sale solution and how it’s becoming inevitable that people make the decision to just do a short sale, and that’s why I posted this article to help you in that direction. Please email me ron@minnesotainvestors.com and I can help you with getting your house sold via a short sale.
Please read the short sale homes article I wrote earlier
I have posted a new link that is important to read about fannie mae foreclosure guidelines where it talks about the benefit for buying a future home based on doing a short sale compared to letting the house go back to the bank.
