Grand Rapids Short Sales – Market Update

1 04 2010

Grand Rapids Short Sales getting some help from the Fed?

 The Obama Administration announced that they are going to be updating their housing rescue plan in an attempt to make it easier for troubled homeowners to sell their homes when they are worth less than their mortgages. Read more here. This certainly can’t hurt. The newest initiative creates a standardized process and adds incentives for so-called short sales.

Grand Rapids Short Sales make up a large part of our overall sales and there are many reasons that a home needs to be sold that way. Basically, if you have to sell your home due to some  sort of hardship but you owe more on it than it is actually worth, the only option is  to go the short sale route and your lender will have to agree to discount the loan balance on the house so that it can be sold. This is where a competent short sale negotiator is very important and is the reason we have hired a short sale negotiator specifically to work with the banks on your behalf.

The new initiative is supposed to create a standardized process and I think this is going to be a big help when working directly with the banks. We have already seen Bank of America switch to a new system called Equator. It is an electronic system and we hope this will make things a little easier. Bank of America, Countrywide and a few others were notoriously slow, mainly because of the sheer number of distressed property that they handle.

If you are in this situation, have to sell your home but are unsure of what to do next, please feel free to give me a call at 616-570-1871 and let us walk you through the process and help you get out from under. For more information on Grand Rapids short sales and the Grand Rapids market in general, visit my website at GRRealEstateInfo.com or contact me anytime. It doesn’t matter what style of home you own or what area of town. We sell real estate in Grand Rapids and the surrounding areas including short sales in Ada Twp, Cascade, East Grand Rapids and the West Michigan Lakeshore. Luxury homes have also been and we are able to negotiate on your behalf as well.

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430 Gladstone Ave SE – Grand Rapids Real Estate

25 09 2009

430 Gladstone Ave SE – Great New Listing in East Grand Rapids

Grand Rapids Real Estate Don’t miss this lovely 2 story in East Grand Rapids schools. Gorgeous hardwood floors throughout with large bedrooms, central air and central vacuum. A spacious kitchen comes with stainless steel appliances and a built-in desk. A very large and recently repainted living room features a gas fireplace and a cute sitting area over-looking the quiet wooded street. This home would make an awesome starter or investment property. Great location close to shopping, schools and the Gaslight Village. This home is a Short Sale, which means that any offers are subject to the bank’s approval. This is a tremendous opportunity to own a nice home close to schools and Reeds Lake.

East Grand Rapids Real Estate

Purchasing a Grand Rapids short sale is just like making a regular home purchase, except you are dealing with a bank. What really is required is plenty of patience. Some banks are swamped. For example, Bank of America has over 7,000,000 cases (distressed properties) to deal with, so it can be a struggle to get these closed. If you are hoping to get a deal before the $8000 tax credit deadline of December 1st, then a short sale is not for you. If you have any questions about this home or to view more interior pictures, visit my website at GRRealEstateInfo.com or contact me anytime.

Click Here to view the online flyer!