short sales

Rocket Fuel For a Rising Housing Market: Multiple Offer Runners-Up

Chasing a Rising Market Many stock market observers believe that one of the key ingredients fueling recent record highs is something called “short covering” (note:  I’m one of them). Whereas investors who “buy long” make money when stocks go up, short sellers profit when stocks fall (technically, they borrow stock to sell when they believe...
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2010: Year of the Short Sale?

Short Sales: Hurdles and Consequences Short sales continue to be a huge factor in the Twin Cities housing market. How do I know? I’ve been showing a new client who’s a first-time Buyer properties within 5 miles of South St. Paul the last few weeks, literally from Maplewood to Cottage Grove. Out of perhaps 100...
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Alternative Financing: Back to the Future?

Contracts for Deed & Assignable Mortgages Last Fall, Edina Realty’s excellent legal department identified FHA loans and short sales as the two, big looming issues for Realtors to prepare for in 2009. Good call. So, what is Edina legal predicting will be big in 2010? Alternative financing. As in, contracts for deed and mortgage assumptions....
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Bank Foot-Dragging?

“Short” Sales: Anything But KARE 11’s Rick Kupchella hosted a nice piece on tonight’s 10 p.m. news about “short sales.” (No video link here because I couldn’t get it to work.) A short sale occurs when the bank(s) agree to reduce the principal that they’re owed so that the owner can take an offer without...
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