January 2011 - "2011 Has Got to be Better than 2010!"

I am so glad we are embarking on a New Year 2011!  While I believe distressed properties and homeowners will continue to be a large part of our market, I believe it will be a better year for everyone.  Even though the economy is showing signs of rebound, there are still more foreclosures and short sales in our future as ARM mortgages continue to come due for increased interest rates, jobs are still in short supply and the value of homes has continued to drop in most parts of the country.

I also see the lending industry, the ones holding the mortgages of distressed homeowners, starting to realize foreclosure is not the best option. Banks lose anywhere from 35%-80% in values when they foreclose.  In 2009, every lender had their own process for loan modification, short sales, foreclosures.  In 2010, they streamlined the short sale process but loan modifications were not very successful and foreclosures were at an all time high.  I believe 2011 will have more streamlined processes to get short sales approved, helping homeowners salvage most of the credit, avoid foreclosure and save the banks money. More banks are also going to realize they need to process more short sales and become better at it. 

I'm looking forward to helping even more homeowners stay out of foreclosure in 2011 by selling their properties short or helping explain their options in avoiding foreclosure.   Whatever stage of the pre-foreclosure or distressed sale you are in, I can help with information, strategies and solutions at any price range, in any situation. I provide free, no obligation confidential information toward a dignified solution. 

So many homeowners I've helped are so glad to move on with their life after selling their home Short.  They are free to pursue life in whatever direction it takes them. Let's count our blessing put 2010 behind us and make 2011 a great year! 

Lea Williams

Real Estate Professional, CDPE

208-661-8368