What is a Short Sale?

A short sale occurs when a homeowner ask the bank or mortgage lender to allow them to pay back less money than what is owed for the property. This can happen from a job lose, a divorce, illness, interest rates or a drop in property values. The lender usually agrees to forgive the rest of the loan.  Many homeowners ask for short sales because it is better than having a foreclosure on record, however a short sale does have a negative impact on one’s credit report.  Check with your local laws and regulations before doing anything.  Hire a reputable real estate agent or attorney who is familiar with short sales.

Housecare Tip #1

Did you know a great way to clean stainless steel appliances is to use baby oil? Just add a dab of oil to a rag and polish your stainless steel to a brilliant shine!

Real Estate Market Update

Mostly everyone is worried about the current real estate market.  Just keep in mind in a few years home prices should undoubtedly be high again.  We experienced a crash in the 1970’s, then it bounced back and homes doubled in price. It happened again in the 1980’s and again we bounced back and doubled and tripled in some markets.  Same thing happened in the 90’s and prices tripled. Some just have faith!

This is an… excellent time to buy!

Hello world!

Hi Everyone,
Visit me at my site for up to date real estate information in Los Angeles, California. Also check out yoursilverlake.com for great tips on buying and selling homes, income property and rentals! See you there!