January 6, 2009

List Price Discounts

Sold Price $135k below List? Ouch! One of the characteristics of a Buyer’s market is Buyers wresting steep discounts from the Seller’s asking price. Even so, a $135k discount — from an already reduced $800k asking price — stands out for sheer magnitude (note: to see the unabridged report, go to “display” in the lower...
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Refinancing Motives

Refinance to Lower Payments —or Avoid Higher Ones With long-term mortgage rates flirting with 5% again, many homeowners should revisit whether it makes sense to refinance. Refinancing (assuming you can) is appropriate in two situations: 1) you’re able to substantially lower your monthly payments; or 2) if you don’t refinance, you face the prospect of...
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Short Sale Hurdles

Pursuing a Short Sale? Better Be Patient One of the reasons that a “short sale” can be so protracted is all the decision makers involved. For those who aren’t familiar, a short sale is when a listed home is worth less than the mortgage against it. Rather than foreclose, the lender can often do better,...
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