Florida Housing Market Struggles Continue
Housing Market Recovery Too Slow for Some
Alma Korshak and attorney Steve Korshak of Short Sale Facilitators of Florida make it a priority to monitor the fluctuations in the housing market. Even with a somewhat upward trend, many homeowners are still unable to manage the cost of owning a home in this economy.
The latest housing news offers hopeful statistics. According to recent figures released by Florida Realtors, distressed property inventory is down. Sales are up from a year ago and the median sales price of a home in Casselberry, FL is showing an upward trend. Combine those figures with slightly improved employment numbers and on the surface, the outlook looks promising. Unfortunately, for some, it may be too little too late.
Statistics may point to some recovery in the housing market, but many homeowners still struggle to stay on top of their mortgage payments. RealtyTrac.com reports over 17,000 homes in Casselberry, Florida, currently in some stage of foreclosure. In February 2014, the number of homeowners receiving a foreclosure filing was 5% higher than in January. While there are some initial signs of a recovering market, the crisis is not over.
Unemployment remains a reality for many homeowners. Without a steady source of income, it may be impossible for homeowners to keep their home until the market recovers. Stressful situations such as divorce, devastating illness or death may drastically change the financial landscape of a family. Is there a second mortgage? Are there HOA fees due? In such cases, a trend toward recovery may not mean much. They need help now.
Can I Still Short Sale My Home?
Alma Korshak of Short Sale Facilitators can help you arrive at the answer that is right for you. Sometimes a short sale is the best solution, but every case is different. The decision to short sale your home is not an easy one, but for many, it may the only way to prevent foreclosure or even bankruptcy.
As with any financial decision, it is important to seek guidance from ethical professionals. A short sale requires the knowledge and experience to negotiate effectively with the lenders, realtors and attorneys involved. Do not be afraid to ask questions of anyone offering to negotiate a short sale for you.
It is important to watch out for scams when considering a short sale negotiator. There are some red flags to consider:
- Beware of anyone that requires payment to short sale your home
- Do not sign anything you do not understand
- Question anyone that asks you to sign over the deed of your property in advance of final closing
- Beware of anyone who asks you to make a mortgage payment to someone other than your mortgage company
- Honest, ethical companies are open about their backgrounds and encourage your research
Work with someone you trust. Recently, a Henderson, NV couple received a fraud conviction in the short sale of their home. They allegedly executed a cash sale to a family member while the continuing to live in the home. The transaction resulted in a loss of $170,000 to the lender and a lawsuit. No one should try to be his or her own negotiator.
Short Sale Facilitators has been in Casselberry Florida for seven years. If you want to come in with all your paperwork we’ll sit down with you and help you figure out where you should start.
Is a Short Sale the Best Solution?
Alma Korshak and the team of professionals at Short Sale Facilitators know what to ask to make that difficult decision. They have the knowledge and experience to answer your questions and explain what is involved in the process. Remember, a short sale does not mean the sale will take a short amount of time. It means the negotiated sale price is short the full amount of the loan. Most short sales take weeks if not months to complete. A strong negotiator is necessary to facilitate the paperwork and stay the course to achieve the best outcome for the seller.
Every situation is unique. The decision to short sale a home varies from one individual to another. Call Short Sale Facilitators at 321-397-5505 to schedule an appointment. Alma and her team of Florida short sale staff can take care of the hassles while you take care of your family. Alma will work on any short sale, anywhere in the U.S.