Browsing All Posts filed under »short sales«

Million-dollar homes sell — at a slower pace

November 7, 2011

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From the Atlanta Journal-Constitution Any story told at a neighborhood party about how much a local home buyer saved purchasing at today’s rock-bottom prices will pale next to Richard L. Jackson’s. Jackson bought a home at a $35.5 million discount. He paid $9.5 million last July for the foreclosed-upon 47,000-square-foot mansion on 72 manicured Forsyth […]

Want a short sale? Best to wait until April 5th! (Kim Skidmore)

March 23, 2010

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From WSJ.com Submitted by Kim Skidmore A new government program aimed to speed up these notoriously sluggish transactions goes into effect on April 5, increasing your chances of negotiating a distressed-property bargain. Q: I am looking to buy my first home, and it seems like short-sales are priced much lower than regular sales. Are these […]

Short Sale Heaven Coming April 5th 2010 (Reed Guthrie)

February 9, 2010

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Submitted by Reed Guthrie, REALTOR, Atlanta Fine Homes Sotheby’s International Realty. Extracted from Andy Morris’ blog post on www.wannanetwork.com. Short sale agents and distressed home sellers have been waiting for these guidelines with bated breath for some time and finally they are here. These guidelines are fantastic news not only for upside down sellers but […]

Treasury Department unveils new rules about 'short sales'

December 7, 2009

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Submitted by Lisa Bennett, REALTOR®, Atlanta Fine Homes Sotheby’s International Realty The change would help financially strapped homeowners December 02, 2009, The Associated Press The Treasury Department unveiled sweeping rules this week to help financially troubled homeowners who need to sell but can’t get a price high enough to pay off their mortgages. Homeowners will […]

Foreclosures Can Offer Deals, but Buyer Beware

December 7, 2009

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Submitted by Bill Rawlings, REALTOR®, Atlanta Fine Homes Sotheby’s International Realty.   By TARA SIEGEL BERNARD,  Published: December 4, 2009 on the New York Times.com.  So you’re looking to buy a new home, and you think a foreclosed house may be the best deal. You’ve probably noticed, then, that many of the big banks’ Web sites are […]

Why do banks do short sales?

August 12, 2009

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Banks will accept short sales when the payments are late and homeowners can prove that they can no longer afford the property, some banks require the foreclosure notice to be severed while others require just a few payments to be late. No specific number of payments must be delinquent; even one payment is enough at […]