House Prices Have Peaked. Why “Wait Out” The Market?
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House Prices Have Peaked. Why “Wait Out” The Market?

October 23, 2013

Would it surprise you that house values actually depreciated in Snohomish County last month? A common story we hear is people decide to remain in their properties when their house expenses are above a third of their income (not recommended by most financial advisers) or have a tenant in there

“We Will Just Rent Our House Out Until The Housing Market Turns Around”
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“We Will Just Rent Our House Out Until The Housing Market Turns Around”

September 30, 2013

This is the notion many homeowners adopted after our housing crash back in 2008. "We will just rent our house or condominium out to someone until the market turns around and then we can sell it again." This seemed to be the easiest solution for the problem of an underwater

SHORT SELLERS! TAX EXEMPTION EXPIRING AND MUST ACT NOW
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SHORT SELLERS! TAX EXEMPTION EXPIRING AND MUST ACT NOW

September 16, 2013

Thinking about short selling sometime in the next few years? What if I were to tell you that if you wait even a couple of months, you may have to pay 10-100K AFTER the short sale closes. Why? Taxes. When you sell your home for less than what is owed,

Back to Work-Extenuating Circumstances Program Is Here
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Back to Work-Extenuating Circumstances Program Is Here

September 4, 2013

This is some great news for homeowners who have had a short sale. Basically, FHA originally had a 3 year waiting period for "extenuating circumstances" such as a short sale, foreclosure, or bankruptcy to qualify for an FHA loan. Now, the homeowner only has to wait ONE year. You must

Does the July Market Update Indicate A Diminishing Opportunity For Short Sellers?
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Does the July Market Update Indicate A Diminishing Opportunity For Short Sellers?

August 5, 2013

We have had a strong seller's market this first half of 2013. Low interest rates enabled more buyer demand and with the low inventory, we saw home prices go vertical. No one can tell exactly where we are headed yet some variables indicate that we may have peaked and are

How To Retain Your Buyer Through A Short Sale
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How To Retain Your Buyer Through A Short Sale

July 22, 2013

Retaining a buyer through 120 days of a short sale process is not easy business. Buying a home is often emotional and after the first month or two, those emotions tend to subside and their eyes wander toward other homes. If the buyer walks, you are left with a house

Learn From Marlene’s Experience: Short Sale Deficiency Stories
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Learn From Marlene’s Experience: Short Sale Deficiency Stories

July 15, 2013

Marlene is a short seller we have been in contact with for the past couple of years now. Our short sale experts in Washington unfortunately weren't  able to help her as she was in California. Please read a short excerpt of her story below: "So in summer 2010 we were

Of Course There Is A Difference Between A Foreclosure And A Short Sale!
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Of Course There Is A Difference Between A Foreclosure And A Short Sale!

June 17, 2013

We look at articles regarding short sales and foreclosures on a daily basis and one thing we often see is a debate between whether short sales have the same negative impact as a foreclosure or not. For years we've been indicating that foreclosure's are worse. Now, the evidence is portrayed

Gambling On The Market? Why Short Sale Now?
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Gambling On The Market? Why Short Sale Now?

June 9, 2013

Could we be experiencing another housing bubble waiting to burst? Although headlines portray strength in the housing market, there is an influx of inventory entering the market sometime in the latter half of this year or early next year. The question is, are you willing to gamble on the market

Does A Short Sale Cost Me Money?
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Does A Short Sale Cost Me Money?

May 28, 2013

Does it cost money to short sell your house? It certainly does in a regular sale. Let's explore a short sale vs normal resale and find out if a short sale will cost you money. In a regular sale (WA state), the typical charges would include: 6% commissions to agents,

Avoid The Foreclosure Rescue Death Trap!
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Avoid The Foreclosure Rescue Death Trap!

May 19, 2013

Frauds involving short sales and foreclosures are evolving today. In fact, 2 scammers, Mark Farhood and Jason Sant, operated several foreclosure rescue websites such as walkawaytoday.org and selffastusa.com for the purpose of deceiving desperate homeowners who seek foreclosure assistance. Remember, if it sounds too good to be true, it's a

Which Offer Should A Short Seller Pick In A Multiple Offer Situation?
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Which Offer Should A Short Seller Pick In A Multiple Offer Situation?

May 13, 2013

Today's market (5/13/13) favors sellers as we have rapidly shifted from a buyers market to a strong sellers market. This means, short sellers are typically in multiple offer situations and now have choices on offers to choose from. So which offer should the seller choose? Let's explore two important aspects

Making Your House A Rental Versus A Short Sale? 8 Reasons Why You Shouldn’t
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Making Your House A Rental Versus A Short Sale? 8 Reasons Why You Shouldn’t

April 29, 2013

Many homeowners opt to make their underwater house a rental property. The typical thought process is holding the property until the housing market turns around thus enabling the house to be a normal sale. Is this a viable alternative to foreclosure or a short sale? We know of many homeowners

Are You A Boomerang Buyer Yet?
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Are You A Boomerang Buyer Yet?

April 26, 2013

What are boomerang buyers? Boomerang buyers are in reference to homeowners whose homes were foreclosed or short sold in the past, and are now in the market again to buy. Are you a boomerang buyer yet?The concept of the boomerang buyer is exactly what we at seattle short sale blog

Has Your Home Come Out From Underwater Yet? Let’s Find Out!
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Has Your Home Come Out From Underwater Yet? Let’s Find Out!

April 15, 2013

Home prices are on the rise. We are seeing over 10 percent annual gains on home values. Though that rate may be unsustainable, we may find if your home has come out from underwater or how long it will take you to break even and be able to finally walk

Are YOU Motivated Enough To Complete A Short Sale?
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Are YOU Motivated Enough To Complete A Short Sale?

March 25, 2013

Short sales are notorious for their duration to close. It was only years ago when we saw short sales take sometimes up to 2 years to close, causing insurmountable stress to all parties, especially to the seller. So why do short sales take so long? One could easily blame the

Choose Your Option: Short Sale vs Loan Mod vs Refinance
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Choose Your Option: Short Sale vs Loan Mod vs Refinance

March 18, 2013

  The past several years have been a game changer for the housing market. Every homeowner has been affected in some way or another and it calls for action. Whether your home is underwater, meaning your home is now worth less than what you owe to the lender or you

The Big Home Price Scare And Why You Should Short Sell Now
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The Big Home Price Scare And Why You Should Short Sell Now

March 4, 2013

In my previous blog post, I estimated that in 2014, home prices were expected to rebound. 2012 however surprised all of us with sharp price increases. What is causing this price increase? A number of factors may play into it but one of the main variables is the lack of

Should You Short Sale Your Home Now Or Wait?
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Should You Short Sale Your Home Now Or Wait?

February 25, 2013

By now, you should have heard that the real estate market is picking back up. Low interest rates and low inventory are spiking the average home price here in Washington State. Homeowners are now deciding on their options of either letting go of their underwater homes via short sale or

8 Things To Consider In Order To Short Sell Like A Short Sail.
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8 Things To Consider In Order To Short Sell Like A Short Sail.

February 18, 2013

Many people ask me whether we made a mistake in our company name, Short Sail Solutions. The answer would be no. Short Sailing is to signify completing a short sale like a short sail (sail –> breeze -> streamlining a short sale). Short sales have certainly become more streamlined mainly