Buyers Land A GREAT Deal!

The real estate market in Sacramento, although in a recovery stage, is still landing many buyers amazing deals. Congratulations to the Chows, happy new homeowners who just landed a great deal. They purchased a short sale listing for less than HALF of what the sellers had paid for the property. Their monthly payments with taxes and insurance are less than $800.That's less than the average rent for an apartment in the city of Sacramento! They were able to get a great loan with a 30 yr fixed interest rate at less than 5% interest rate. What did they purchase? An 1,100 sq. ft. half-plex, that was built in 2004 with 3 bedrooms and 2 full baths. It was move-in ready!

Short sales, however, are not for the weak hearted. The buyers waited about 3.5 months from the date they wrote the offer to the time it closed, but I'd say it was definitely worth the wait! Why aren't more people taking advantage of deals like this?