Short Sales as a Financial Tool

With local schools getting out for the summer this and next week we should see an increase in the already busy Sacramento real estate market. Unfortunately much of this will be more short sales as more and more homeowners who owe more on their homes than they are worth realize getting out from under the debt and starting over makes sound financial sense. Homeowners who used 100 percent financing options or refinanced to pull all their equity out a few years ago are beginning to understand that it may be years before their house is worth what they owe. Add to this a financial hardship such as loss of a job or divorce and you have the perfect ingredients for a short sale and a fresh start.

If you or someone you know owns a home and owes more than the current value of the property give me a call at 916 290-9339 or drop me an email to juliej@jalone.com. We may be able to help you.

Over the past month there has been a consistent rumor floating around saying there is a huge number of bank owned properties that have not come to the market but will in June. Check out my column, “Rumors dampen Sacramento area Real Estate” over at Rocklin & Roseville Today for the details.