Valerie Osterhoudt's Blog

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SHORT SALES VS FORECLOSURES... HOW DO WE EDUCATE THE PUBLIC

Yes, I know this is a HOT topic today in real estate.  There have been quit a few blogs on this.  Today I  saw on NBC news how foreclosures have skyrocketed on the east coast for the first quarter this year.

The media ALWAYS seems to promote negativity.  After all this is what people gravitate to. How can we as realtors get the message out that doing a short sale is a lot more advantageous for the homeowner, then having the property go into foreclosure, if at all possible.

For example, a short sale will affect their credit for 3 years, where the foreclosure will for 7 years.

I've done quiet a few short sales in the last year in Middlesex County of Connecticut, and my clients are grateful that this was done verses going into foreclosure. 

I would hate to see people going through this, and would like them to know there could be an alternative.  Why doesn't the media disclose this too?

valerie osterhoudt

Info about the author:

Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, as well as the surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.

Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.635.0387 #2 - valerierealtor@sbcglobal.net

Copyright © 2008 By Valerie Osterhoudt, ABR, All Rights Reserved...*SHORT SALES VS FORECLOSURES... HOW DO WE EDUCATE THE PUBLIC*

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Valerie Osterhoudt, ABR
(Accredited Buyers Representative)

Is a Full Time Realtor® with with Johnson Real Estate, in Cromwell, CT who specializes in Homes and Condos For Sale in the Middlesex and Hartford Counties in CT.

VALERIE OSTERHOUDT REALTOR IN CROMWELL CT

valerie osterhoudt

Valerie Osterhoudt, ABR ~Johnson Real Estate, Inc.
cell:  860.883.8889

email: Valerie Osterhoudt, ABR

website: www.CTrealtorMLS.com

 

2 comments • Valerie Osterhoudt, ABR ~ Cromwell, CT Real Estate ~ 860.883.8889 • April 29 2008 08:53AM

Short Sales...

The other day, a friend/client came to me and said that she has to sell her home and would like to do a short sale. She is getting a divorce, and her husband has moved out.  She knows that he is supposed to help out legally, but in reality, he doesn't make enough to support his present place and their home.  They both agreed to do a short sale, as this would be the best arrangement for both of them.

I gave her a name of an attorney who said he can do short sales.  She went to go see him, and afterwards was more confused than when she went in.  He tried to give her advice, by telling her to see a financial advisor and trying to see if she could keep the home. Which is not what she wants at all.

She called me so upset, that she now didn't know which way to turn.. all she wants to do is to sell the property before it goes into foreclosure because she can only pay for the mortgage for a few more months.

I did some research and found an attorney that does nothing but short sales, and this IS his speciality.   After speaking with him personally, he has reassured me that her best option is to sell, and soon.  If she waits the value of her home could/would probably decrease more.  He has faxed me all the necessary information to give to my client so she can have a heads up on what to expect before they meet.  How much better does it get?  An attorney wanting to help.

If this does work out, I will have no problem sending others to this firm who fall into the same situtation of wanting to do a short sale, instead of having a foreclosure occur.

My question is why did the first attorney say he can handle it, when he tried to move her to another senario that would not benefit my client.  Shouldn't he be looking out for her best interest too? I guess *can do short sales* verses *knows how to do short sales* are entirely two different statements.

  valerie osterhoudt

 Info about the author:

Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, as well as the surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.

Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.635.0387 #2 - valerierealtor@sbcglobal.net

Copyright © 2008 By Valerie Osterhoudt, ABR, All Rights Reserved...*Short Sales... *

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Valerie Osterhoudt, ABR
(Accredited Buyers Representative)

Is a Full Time Realtor® with with Johnson Real Estate, in Cromwell, CT who specializes in Homes and Condos For Sale in the Middlesex and Hartford Counties in CT.

VALERIE OSTERHOUDT REALTOR IN CROMWELL CT

valerie osterhoudt

Valerie Osterhoudt, ABR ~Johnson Real Estate, Inc.
cell:  860.883.8889

email: Valerie Osterhoudt, ABR

website: www.CTrealtorMLS.com

 

5 comments • Valerie Osterhoudt, ABR ~ Cromwell, CT Real Estate ~ 860.883.8889 • April 15 2008 04:35PM