Two Important Things to Know About Short Sales
Did you know that approximately 13% of houses in the United States are vacant? However, since the housing recession took place in the late 2000s, home sales are beginning to increase again. In fact, the United States Census Bureau reports that between 2012 and 2013, home sales in the U.S. increased by 16.4%. Buying your first home is a large financial decision, though, so short sales can help make buying a house more affordable. By obtaining information on short sales, it will be easier to determine whether or not this real estate investment opportunity is right for you.
1. What is a short sale? Real estate short sales occur when property owners fail to pay their mortgages, and their homes are put up for sale at prices that are typically below market value. This is because the lien holder agrees to accept less than the amount owed on the debt. There were an estimated 2.2 million short sales from 2008 to mid-2013, and buyers who seek short sales can often obtain homes at lower prices. However, it is important to get information on short sales from an experienced professional, and finding the right real estate agent is a useful way to help you determine whether or not a certain short sale property is right for you.
2. How to find short sales. Property that is up for short sale can be found all across the country, including San Antonio, Texas. Approximately 1.3 million people live in San Antonio, and more than 2,400 houses were sold in San Antonio in July of 2013. Additionally, the Alamo is located in San Antonio, which makes it a historically significant city. San Antonio is a beneficial place to live, making it a practical location to seek short sales.
With the real estate market gaining momentum, short sales have become a sensible way to purchase a home. Short sales often provide homes at lower prices, and they can be found all across the country. By obtaining information on short sales and determining where to find them, it will be easier to decide whether or not this real estate investment is right for you. Check out this website for more.