Is Your Fredericksburg Home Upside Down?! - Call us Today: 540-692-9144 |
http://www.thecrewsteam.com/sell/
What does it mean to be UPSIDE DOWN on your Fredericksburg home?
Our experience in the Fredericksburg real estate market has been that the majority of short sale transactions has been due to the home owners being way upside down on their home mortgage. For example: If you purchased your home in 2006 for $350,000 and you find that today your neighbors are selling for $221,000 or lower. And you owe roughly $302,000 on your home, then that means you are roughly $81,000 upside down on your Fredericksburg home. Meaning if you were to sell your home right now, you could not unless you brought $81,000 plus to the closing table out of your own pocket. In this same scenario, if you were to keep paying on this negative asset, with an average year over year home appreciation of 4%, you would have to own this home for at least 10 years in order to break even. Essentially you would be paying money for a a home that is not worth the mortgage balance and you would essentially be throwing money out of the window.
What Can You Do About This?!
The majority of banks will now accept a strategic default and allow you to short sale your Fredericksburg home without ever having to miss payments or ruining your credit.
How does this process work for the Fredericksburg homeowner?!
You contact a short sale specialist in Fredericksburg, Virginia that is knowledgeable on the short process and has a proven track record of having short sales completed. Tim Crews with Keller Williams Realty is a Professional Realtor and Short Sale Expert that serves Fredericksburg Virginia real estate and could help you understand exactly what your options are.
Contact Tim Crews today for a no-obligation consultation today to discuss your options:
Learn what your options are today if you wanted to sell your Fredericksburg home that is upside down in mortgage balance, click here:
http://www.thecrewsteam.com/sell
These Fredericksburg communities have experienced a high number of short sales:
Salem Fields, The Falls at Lees, Salem Fields, Fawn Lake, Lees Crossing, Fawn Lake, Oak Grove Terrace, Village of Idlewild, Maple Grove, Kingswood, Holleybrooke and Leavells Crossing.
Your Friend in Fredericksburg Real Estate,
Tim Crews
Tim Crews Team with Keller Williams Realty
Licensed Realtor in Commonwealth of Virginia
http://www.thecrewsteam.com/sell/
540-692-9144