Short Sales Not Good For Everyone, But Better Than Foreclosure!

Short sales and foreclosures were a major topic at this morning’s sales meeting. The context? Discourage your sellers from pursuing these routes. The long and “short” (pun intended) of it, is that there are longer term repercussions in terms of damaged credit, inability to own again for a long time, tax liabilities, deficiency judgments, insurance rates, and even job possibilities being affected by these things. If at all possible, don’t do it was the message we heard.
What is the best solution when you owe more than your home is worth, and you HAVE to sell? Find a source of credit to fund the shortage that can be paid off over time after the closing. Especially if the shortage is not huge, usually the result will be a happier future.
The weather has been pleasantly cool and even wet the last few days, with the highs around 80. A big warm up is on the way though (94 on Saturday!), I may have to look for another opportunity to go up to Breckenridge, or somewhere else where it will be cooler! Today’s photo is from 2 weeks ago, downtown Breckenridge

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