Broken Arrow & Tulsa, Short Sale Properties and Foreclosures

One of the biggest subjects lately on the local & national news, media has been about the real estate market, economy and how all of it is so connected. I have seen a trend here in Broken Arrow and the local Tulsa metro area. I'm seeing more and more home sellers placing their homes on the market as potential Short Sale properties.

What is a Short Sale? A short sale is when the sellers have asked their mortgage holder to take less than full payoff for their property.

Typically this requires some sort of financial hardship and we all know with the local economy down, real estate market shifting and extreme amounts of unemployement more and more people, families will be forced into foreclosure. Anytime we have an influx of properties on the market and less buyers available for these properties prices tend to dip down. This creates a buyers market and most markets are currently in what many would consider to be a buyers market. Even though this sounds great for buyers it can be a horrible thing if your in financial trouble and needing to sell to avoid foreclosure. Also, the banks typically don't move fast enough for families trying to avoid foreclosure through a short sale. Even if your given a viable contract the banks may sit or take too long to agree on all terms, or simply get to the file to save your home from sale at sheriffs auction. This is why it is so important for anybody facing financial hardship to contact a local realtor ASAP so that time does not get to a point of too little, too late.

If you are in a situation where selling may save you from foreclosure, save your credit and help your families situation I'd love to help. I will keep your information confidential. If I can help please don't hesitate to contact me for a confidential meeting to discuss your situation.

© Bill Howard