Archive for Santa Clarita Short Sale Myths

Santa Clarita Short Sale Myths Updated 2017

Certified Distressed Property Expert Matt GregoryAs we approach 2017 we decided it was time to again reveal the common misunderstandings surrounding pre-foreclosure property sales and Santa Clarita Short Sale Myths for 2017. Several years ago when the economy went to hell in a hand basket, the Santa Clarita real estate market consisted mostly of short sales and foreclosures. Thank the heavens, this is no longer the case but as we move toward 2017 we thought it would be a good time to review our old post series titled,  Santa Clarita Top Ten List | Short Sale Myths.

Looking Back at the Real Estate Market in Santa Clarita
Before we get started reviewing the Top Ten List of Santa Clarita Short Sale Myths, it’s important to understand what distressed homeowners were thinking and feeling a few years back. There were many highly trained and successful people without jobs. They had been laid off, not because of anything they did wrong, but because business took a huge downturn. Employers were suffering and had little choice except to cut back by letting some of their best employees go.

In the couple of years preceding horrible economic disaster, people were buying homes at higher values. When business went bad so did the real estate market, and prices dropped significantly. This situation left distressed homeowners and lenders in a horrible situation, because many consumers were completely upside down with their mortgage! The timing couldn’t have been worse!

What Happened
The next thing you know homeowner’s couldn’t pay their monthly mortgage payments and their homes were worth less than they owed their lender! Many of these homeowners had never been in this situation, never faced the possibility of foreclosure, and in fact some had never even been behind on their payments. Most real estate consumers, at least in Santa Clarita, didn’t even know what a short sale was. There was rampant fraud occurring, few people understood their options, and homeowner’s really didn’t know who they could trust. It was for these reasons we published our Santa Clarita top ten short sale myths. Our friends, clients and consumers everywhere needed accurate information and they needed it from a source they could trust. Our Gregory Real Estate Group team got together and we delivered the information consumers needed! Part of that information included our blog post series titled, Santa Clarita Short Sale Myths. See the original post publications here!

Review and Comments About Our Old List of Short Sale Myths
Upon our current review of our old list of short sale myths below, we still find them to be relevant and useful. Today real estate consumers are much more familiar with short sales and we know most people have a good general understanding of what a short sale is, there are still some who might find the list helpful. See the green text next to each myth, representing our comments as we approach 2017!

  • Short Sale Myth #1 – Buyers don’t want Short Sales – False! The truth is, given a choice, home buyers would prefer a standard sale transaction. It’s just faster and easier, but determined buyers can in fact enjoy a big savings when buying the right short sale property! First, you need a highly experienced short sale agent! It’s partly a matter of luck though, because it will depend on the lenders current financial situation, which changes regularly.
  • Short Sale Myth #2 – You must be behind in your payments to short sale your home – Not True! You do not necessarily have to be behind to short sale your home. Yes, in 2017 we still agree this is NOT true!
  • Short Sale Myth #3 – There’s not enough time to short sale your home – Not true! Others have received extensions even one day before the sale date! Still, that’s very risky and the longer you put it off, the harder it is to short sale your home. It’s best to start the short sale process sooner rather than later!
  • Short Sale Myth #4 – Short Sales never get approved – This is false! Many Santa Clarita short sales transactions are approved and closing everyday. Of course short sales get approved all the time, but it does take much longer than a standard sale transaction.
  • Short Sale Myth #5 – The bank would rather foreclose on your property than agree to a short sale – This is not true and in almost all cases, it costs the lender more to foreclose than to allow the Short Sale. In most cases the lender would prefer to approve a short sale.
  • Short Sale Myth #6 – Banks are no longer accepting short sales –  False! This was a rumor floating around at the time, possibly started by loan modification companies.
  • Short Sale Myth #7 – A Short Sale is embarrassing! False! Yes, this can be embarrassing but there’s no reason to feel such. Think of all the others homeowner’s that have come before you!
  • Short Sale Myth #8 – Any Real Estate Agent can work a short sale. Absolutely false! Be very careful of this one. It’s critical you use an agent such an agent highly experienced in short sales. Watch for our future post in our Santa Clarita Short Sale Myths series for detailed information. Even today, we are still adamant about advising homeowner’s to enlist the services of a Certified Distressed Property Expert when short selling their homes!
  • Short Sale Myth #9 – It’s smarter to walk away from your home than attempt a short sale – This is very wrong for a bunch of reasons. If you are a homeowner  and thinking about this option at this time, you need to come see us immediately. We will schedule an emergency, confidential and free meeting ASAP. A short sale costs nothing! Call now! 661-713-4799. Please don’t walk away and don’t wait! Call us today and we will help.
  • Short Sale Myth #10 – A short sale is not worth the effort – False! There is little extra effort by the home seller. As Certified Distressed Property experts, we handle everything! We use professional negotiators to deal with the lender on your behalf. We do it all so our clients can walk away with a fresh, clean start!

Schedule a Confidential Consultation

Matt and Meray Gregory
661-347-6955

We hope you found useful our review of the old short sale myths and look forward to your comments about Santa Clarita Short Sale Myths for 2017.

Santa Clarita Short Sale Myth Number Ten

Certified Distressed Property Expert Matt GregoryWith today’s blog update we present Santa Clarita Short Sale Myth Number Ten! As mentioned in previous posts, we have been systematically going through hundreds of posts and updating our content.It is our intent to only provide accurate and current information to our real estate clients, friends and consumers. Today, we have a short video by Certified Distressed Property Expert and iRealty Santa Clarita Real Estate Agent. Matt Gregory. Matt leads our Gregory Real Estate Group and has helped many friends and clients to avoid foreclosure by short selling their homes. You may contact Matt directly at Tap Here to Call Matt directly at 661-347-6955.

Santa Clarita Myth #10 Update 2014!
It’s now 2014, and it’s been quite a while since this blog was originally posted. It’s interesting to note, Short Sale Myth number 10 is still as true today as it was in 2010 when this post was originally published. It’s still a better idea to short sale a home as opposed to allowing foreclosure, or even cash for keys. So, the only difference in the video from then to now is, Matt is no longer with Keller Williams! He is still following his real estate passion, but is now a broker and realtor at iRealty Valencia, right here in Santa Clarita.

Watch the video and read below as Matt reveals Santa Clarita Short Sale Myth Number Ten. If you or someone you care for are struggling with a mortgage, contact us and schedule a confidential consultation.

Learn How to Receive a Relocation Package Worth Almost $8,000 After Short Selling

Short Sale Myth #10 – A short sale is not worth worth the effort – False!

This part of the original post is somewhat outdated. Still, it may apply to some, so we are leaving it as is, but as noted!
Looking at this from a future wealth point of view, think about this: Say you bought your home several years ago when prices were much higher. Obviously, with today’s market values the value of your home is way below the amount of your loan. If you short sale your home now, you will be relieved of that loan obligation, however your credit will take a hit. Not near as much as a foreclosure though! After a short sale, if you keep your bills paid on time and do all the things necessary for a good credit rating, you’ll be able to obtain a new home loan in one or two years. We don’t expect home prices to go up much anytime soon so you’ll probably be able to obtain a home similar to the one you sold, but at a much lower price. After several years Santa Clarita real estate will most likely appreciate and you’ll be ahead of the game and will have made a profitable investment. Things might not look so good now, but in a few short years you can be in a much better position if you avoid foreclosure and short sale your home. There are never any guarantees about the future real estate market, but just look at the history.

Update Note: It’s interesting to note, as we approach 2015 home prices have gone back up but not near as high as they back before everyone took the big hit. Today, it’s more difficult to obtain a home loan and it takes more to qualify for a loan. Lenders are being mandated to not repeat the mistakes of the past, and much more careful to approve home loans!

This concludes our Santa Clarita Short Sale Myths series and we especially hope you found helpful, Santa Clarita Short Sale Myth Number Ten. Please contact us today to schedule a free confidential meeting. We’re happy to help everyone explore their options and find the best possible solution!

Santa Clarita Short Sale Myth Number Nine

Continuing our top ten list of common short sale myths we present, Santa Clarita Short Sale Myth Number Nine. Notice, we specifically mention Santa Clarita in our myth title but the truth is, it can really be any city. The common misunderstandings about real estate short sales are similar throughout all of California, and probably even the entire United States. Today our resident Certified Distressed Property Expert and iRealty Broker Matt Gregory explains why most real estate professionals agree that short sale are usually the most affective way to get a fresh start when facing foreclosure. Matt leads our Gregory Real Estate Group and is an active Santa Clarita Real Estate Agent. Watch the video and read below as Matt reveals Santa Clarita Short Sale Myth number 9. Should you have any questions we’re always available to help, so please call Matt at 661-347-6955

Learn How to Receive a Relocation Package Worth Almost $8,000 After Short Selling

Santa Clarita Short Sale Myth Number Nine – It’s smarter to walk away from your home than attempt a short sale – This is FALSE and is very wrong, for a bunch of reasons. If you’re thinking about this option at this time, we encourage you to come see us as soon as possible. Contact us today to schedule a free confidential consultation. Remember, a short sale costs the seller nothing! Call now! 661-713-4799.

Visit our Short Sale Myths page to see the complete top ten list of short sale myths.

Ramifications of a Foreclosure or Cash for Keys vs Short Sale

Contact us today and we’ll help you determine your best course of action and it a short sale makes sense, we’re happy to represent you. If not us, we urge you to speak to an expert in the field of distressed properties. Many people end up in foreclosure and later revealed they never consulted a qualified professional in advance.

Matt Gregory leads our ExtremeShortSale.com short sale team and our Gregory Real Estate Group. We are fortunate to have closed many successful short sale transactions here in Santa Clarita and throughout the greater Los Angeles area. Matt has completed specialized training in the short sale field and is more than willing to assist with analyzing your present loan circumstances and help determine what’s best for your specific situation.

We hope you found this information helpful and look forward to your comments about Santa Clarita Short Sale Myth Number Nine.

Santa Clarita Short Sale Myth Number Eight

Certified Distressed Property Expert Matt Gregory

Certified Distressed Property Expert Matt Gregory

Today we offer Santa Clarita Short Sale Myth Number Eight!

Update! As we approach 2015 we are updating all of our content on this blog site. It’s a major undertaking but we are committed to providing our visitors with only current and reliable information. When this post was published back in 2010, there were many myths and misunderstandings associated with Short Sales not only in Santa Clarita, but throughout Southern California. To help clear up some of these incorrect assumptions, we offered our Santa Clarita Short Sale Myth series. Although most of the misunderstandings about short sales are rarely a problem, there are still some folks unfamiliar with the whole short sale process.  Therefore, upon review of the content we find it still relevant and accurate, so it will remain available for visitors.  As always, should you have any questions, please feel free to contact us when needed. Call Matt Gregory at 661-347-6955

As a Certified Distressed Property Expert and local iRealty Broker, I have been fortunate enough to have helped many friends and clients avoid foreclosure by short selling their homes. As a local Santa Clarita Real Estate agent and active in the Santa Clarita Real Estate market, I make myself available for free consultations almost daily. Remember, if you’re struggling with your mortgage there are options and solutions. Loan Modifications often are not the answer. Watch the video and read below to find out more.

Learn How to Receive a Relocation Package Worth Almost $8,000 After Short Selling

Santa Clarita Short Sale Myth Number Eight is: Any Santa Clarita Real Estate Agent can work a short sale! This is FALSE!

A short sale transaction can be time consuming, frustrating and most often it’s a complex and lengthy process. It requires experience, training, patience and good understanding of how the various lending institutions deal with short sale submissions. Understandably, most of us have a Santa Clarita Real Estate agent we have used in the past. Most consumers first thought when they consider selling is home is to contact an agent referred by a friend or one they may have used in the past. Be advised, this could be a mistake with a short sale. Not every agent has the training or experience to negotiate a short sale. If the agent you choose has little or no experience with short sales, you will be jeapordizing the success of your short sale! If they have no specialized training in short sales or no track record with successful short sale transactions, you may be taking a risk you can’t afford. We don’t offer this advice lightly. We usually advise consumers to choose an agent they know and are comfortable with. With a short sale we still advise the same, but be sure your agent has short sale experience and be sure to verify it! If you want to be sure you’re in good hands, choose an agent that is also a Certified Distressed Property Expert!

Short sales are tough enough to close, even for the experienced Santa Clarita Short Sale Agent. Also, it’s best if the short sale agent uses an experienced bank negotiator. Some agents have almost no experience in dealing with the lender’s short sale representatives. It this is so, this agent is at a huge disadvantage when trying to negotiate with the bank themselves. We do not advise anyone use an agent with no experience in specifically negotiating a short sale with lenders. Here are some questions any homeowner should ask their prospective Santa Clarita Real Estate agent:

  • Have you ever worked a short sale? If so, how many short sales have you successfully closed? Have you received any specialized short sale / pre-foreclosure training
  • Do you negotiate with the lender yourself? If the answer is yes, what are your qualifications to provide this service
  • Do you use and pay an experienced negotiator? If so, who do you use? What are their qualifications
  • How much will I, as a homeowner, have to pay for my Real Estate Broker to sell and negotiate my short sale? In most cases, the answer is $0. It’s FREE. The lender should always pay the broker, not the seller!
  • Your new agent should try their best to help you avoid foreclosure and stay in your home. The agent should be able to help you analyze any possible loan modification options. Your agent should help you to understand all your options before you decide to short sale your home, even if it means “no listing” for your agent. This process should cost you nothing!
  • Be sure to check your prospective Santa Clarita Real Estate Agent’s references. You can’t afford to have your transaction fall apart due to inexperience!

As a local iRealty managing broker, I have has received specialized training as a Certified Distressed Property Expert and pre-foreclosure Specialist. I have been fortunate to have helped many Santa Clarita homeowners short sale their homes and avoid foreclosure. I am truly passionate about short sales and have plenty of references from previous clients. Contact us today at 661-347-6955.

We hope you found this post helpful and look forward to your comments about Santa Clarita Short Sale Myth Number Eight.Santa Clarita Short Sale Myth Number Eight

Santa Clarita Short Sale Myth Number Seven – Update

Certified Distressed Property Expert Matt Gregory

Certified Distressed Property Expert Matt Gregory

Today, we continue our Santa Clarita Short Sale Myth series with Santa Clarita Short Sale Myth number Seven.

As a managing broker with iRealty of Los Angeles and a Certified Distressed Property Expert, I’ve had the opportunity to work with many homeowners facing foreclosure. It’s quite common and unfortunate for homeowners to be embarrassed over their situation of possible foreclosure, and it’s always such a pleasure for me personally, to help them solve their problem and move on with their lives. Please, if this sounds familiar, there’s no further need to despair! Please contact me immediately and we’ll see if we can work together to short sale your home, or find a lender to provide you with an acceptable solution.

Learn How to Receive a Relocation Package Worth Almost $8,000 After Short Selling

Santa Clarita Short Sale Myth Number Seven: A Short Sale is Embarrassing! No, no, no! It doesn’t have to be embarrassing! Please read below as we expand on this sensitive subject matter.

Santa Clarita Short Sale Myth Top Ten List:

Some of us are hesitant to discuss our financial situation with anyone, including their own family. They certainly don’t want a Real Estate agent posting a FOR SALE sign out front. Often times a homeowner will call me about their mortgage issues and they are curious about their options to avoid foreclosure. Although a short sale is most likely the answer I will provide, it’s not always the case. Most homeowners quickly agree this is the best option for them, but are concerned about the possible embarrassment a short sale might bring them. There are several ways to eliminate these concerns. First off, I tell them their neighbors do not have to know that they are selling their home. We simply won’t put a sign in the yard and won’t hold any open houses. That usually brings much needed relief to them. I also remind them, they are not alone. At the time of this post, 40 percent of the active homes on the Santa Clarita Real Estate market were short sales. Now in the year 2014 it’s only about 9% but these numbers are proof that our struggling homeowners are not alone, and many have walked in their shoes. I have recently sold a home where there was no sign, no flyers, no lockbox, and no open house. The neighborhood found out that their neighbor was moving on the actual moving day when there noticed a big moving truck outside the home.

If you’re struggling with your mortgage, please know you have options and there are viable solutions! Don’t be afraid or embarrassed to talk to an professional that has experience and a proven track record with short sale transactions. Any discussions will be confidential and if you decide to short sale your home we can have it done in the most discreet manner possible. Please let us help you, help yourself! Contact us today!