If you're thinking of selling your home in Maryland, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale in Maryland is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
1. Consider loan modification first. If you are thinking of selling your home in Maryland because of financial difficulties and you anticipate a short sale, first contact your lender to see it has any programs to help you stay in your home. Your lender may agree to a modification such as:
· Refinancing your loan at a lower interest rate
· Providing a different payment plan to help you get caught up
· Providing a forbearance period if your situation is temporary
When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if
· Your property is worth less than the total mortgage you owe on it.
· You have a financial hardship, such as a job loss or major medical bills.
· You have contacted your lender and it is willing to entertain a short sale.
2. Hire Robert McArtor with Long and Foster Real Estate, Inc. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with Robert McArtor who demonstrates a thorough working knowledge of the short-sale process and will not try to take advantage of your situation or pressure you to do something that isn't in your best interest.
When you Hire Robert McArtor with Long and Foster Real Estate, Inc. He will:
· Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
· Help you set an appropriate listing price for your home, market the home, and get it sold.
· Put special language in the MLS that indicates your home in Maryland is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
· Ease the process of working with your lender or lenders.
· Negotiate the contract with the buyers.
· Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.
Whether you are in Harford County Maryland considering a Short Sale, Baltimore County, Cecil County, Anne Arundel County, Baltimore City, We are here to help you avoid foreclosure and become a Bank Owned Property. Foreclosures are expected to increase through-out Maryland in the coming months. Don't wait until the last minute to start the Short Sale process here in Maryland.
What is a short sale?
It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale in Maryland?
A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have been doing short sales for years. Only recently, due to the current state of the housing market, has this process become a part of the public consciousness. To be eligible for a short sale, you first have to qualify!
To qualify for a short sale,
a.) Your house must be worth less than you owe on it, and
b.) You must be able to prove that you are the victim of a true financial hardship, such as a decrease in wages, job loss, or medical condition that has altered your ability to make the same income as when the loan was originated. *You cannot qualify for a short sale if you simply want to move, as the bank will scrutinize your financial records to confirm financial hardship. I meet all of these criteria. What do I do now? Once the bank is on board, the real work begins…
1.) Find a QUALIFIED agent to handle your short sale in Maryland . It’s a good idea to find one who has completed at least 30 successful short sale transactions, as short sales require a very specific skill set. Knowing how to successfully navigate pitfalls and avoid potential delays is key to the success of the transaction. Read through our short sale expertise throughout our website.
Robert B. McArtor is a Certified Short Sale Agent through Long and Foster Real Estate, Inc.
10 States Where Distressed Homes Will Be Flooding The Market For Years
According to the latest real estate market report from CoreLogic. 10 States are faced with a backlog of distressed homes. While home prices are rising in some places and stabilizing in others. There’s plenty of supply of distressed homes in Maryland. If you are looking for a Foreclosure, Short Sale or a Bank Owned Home in Maryland, Baltimore or Harford County. Contact Robert B. McArtor with Long and Foster Real Estate, Inc. today! Unfortunately, with the supply of distressed homes out there, it will certainly keep prices depressed in the marketplace for years to come.
#1 - Mississippi with a supply of Distressed Homes of 70.6 Months
#2 - New Jersey with a supply of Distressed Homes of 46.1 Months
#3 - Illinois with a supply of Distressed Homes of 36.2 Months
#4 - Maine with a supply of Distressed Homes of 35.7 Months
#5 - Washington D.C. with a supply of Distressed Homes of 32.4 Months
#6 - Georgia with a supply of Distressed Homes of 31.2 Months
#7 - New York with a supply of Distressed Homes of 30.3 Months
#8 - Indiana with a supply of Distressed Homes of 29 Months
#9 - Minnesota with a supply of Distressed Homes of 27.2 Months
#10 - Maryland with a supply of Distressed Homes of 25.5 Months
"An Evening of Unexpected Delights" was hosted by Mayor Stephanie Rawlings-Blake at the Baltimore Convention Center and catered by Centerplate which helped to raise over $300,000 to battle homelessness. Over 500 people were in attendance. The event is to benefit Baltimore's "The Journey Home" - Baltimore's 10-year plan to end homelessness.
Another surprise guest in attendance was the former Baltimore Ravens offensive lineman Jonathan Ogden. He pleased the crowd as the guest bartender for the evening.
A live auction of four vacation packages and Chef entertainments turned into a wonderful show as Robert B.
McArtor with Tidewater Auctions had the crowd roaring with applause and on their feet as the bidding increased with excitement. "I was excited as bidding became fierce...$15...$17...$21 thousand dollars for a trip to New York to see the farewell live taping of Regis and Kelly....its for the homeless....Baltimore should be proud of its generous citizens", Robert said.
Jewel was the best kept secret of the event. Many in the crowd held back tears as she spoke of living homeless and living out of her car in the early 1990's. She performed her song "Hands" as photographs of homelessness flashed behind her on the screens.
"I would like to personally thank Desmond Hague and Centerplate for their generous support of our efforts to make homelessness rare and brief in Baltimore," said Rawlings-Blake. "Centerplate's contribution will go a long way to support critical priorities under the Journey Home plan including employment training, placement services and education support for youth experiencing homelessness."
All proceeds from the benefit will provide funding for two critical Journey Home priorities: an employment program that will operate out of three emergency shelters and the hiring of coordinators to support the academic and social needs of the 1,000 homeless youth living in shelters
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Robert is a Full-Time REALTOR, Investor and Licensed Auctioneer. Foreclosure and Short Sale Expert. Visit MarylandHOMESTeam.com for Latest Podcast Program on Market Conditions & FREE Listingbook Acct.
SEARCH FOR SHORT SALE and FORECLOSURE HOMES LIKE REALTORS®
INSTANT ACCESS NOW for HOMES in MARYLAND
About the ListingBook service:
If you've ever spent time browsing on Realtor[.]com your really going to like this service. Here's why:
It allows you greater search parameters. For example you can search for foreclosures in Baltimore, Harford County or zip code including type of property.
You can search by the usual city or zip code OR search by specific neighborhoods in Maryland, condominium complex or by any map location instead.
You can also view SOLD property data, so you can research recent sales prices.
It will notify you of any price drops or new listings matching your criteria
It lets you view all the photos and virtual tours of the property (other systems may limit the results)
It lets you know how many 'days on market' (DOM) a property has been listed for in Maryland.
It displays any homeowner association fees, condo fees, etc that you should know about.
And most importantly it is tied directly to our MLS system-- you can now search very much like a Realtor does.
This way you can see not only foreclosures, but you can also view short sales, estate sales, and any other well priced properties, regardless of the reason. You can also specifically search for Short Sale Properties.
Robert B. McArtor is a Licensed REALTOR®, Real Estate Agent and Auctioneer serving the Baltimore County, City, Harford and Cecil County area helping home owners sell and market their homes and assuring Home Buyers the most professional representation when negotiating the best price for their home. When you are looking to auction your home or choose the traditional sales method with Long and Foster Real Estate. Call the Team of Choice in Maryland.
If you are considering relocating or moving to Harford County Maryland, there is one Real Estate TEAM to choose when you start your search for your dream home. Our extensive knowledge in the Harford County Real Estate Market will benefit you when purchasing your home. We have provided helpful links for you. From this page, you can also start searching for properties that are available. Let us start working for you TODAY! It starts with a simply searching for a home, filling out the email inquiry form and its that simple! One of our Team Members will contact you immediately to begin to work within your schedule to view the homes of your choice in Maryland, Baltimore County, Harford County, Cecil County Relocations
If you are one of the many affected by BRAC and are moving to Aberdeen Proving Ground, MarylandReady.com is a great website with many relocation services. Please Bookmark this page and begin your search for Harford County Homes in Maryland. Serving all communities of Harford County if you are Buying or Selling.
FREE VISUAL TOURS of Maryland Listings
4 out of 5 Home Buyers in Baltimore Maryland will use the internet to search for their new home. What will they see when they find yours? We offer FREE Visual Tours with every listing AND for a limited time only, we are offering a FULL Home Warranty on your property for the Buyer. ACT NOW and Call Robert today!
What is considered a Short Sale in Maryland?
A Short Sale in a real estate transaction occurs when the outstanding loan on the property is greater than the proceeds from the sale of the house after all the closing costs, taxes, liens are paid. The home owner must meet all the qualifications of a short sale in Maryland, Harford County, Baltimore County, Cecil County. The Home Owners Lender must also agree to allow a short sale of the mortgage. Did you know your Lender COULD release you fully from your mortgage and forgive you of your deficiency? The HAFA program, if qualified, offers $3,000 back for relocation expenses. Some Lenders are also offering CASH incentives to homeowners to do a short sale instead of a foreclosure.
For More Information, Email me your contact information RobertMcArtor@Gmail.com and I can get the process started for you immediately!
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Whether you are in Harford County Maryland, Baltimore County, Cecil County, Anne Arundel County, Baltimore City, We are here to help you avoid foreclosure and become a Bank Owned Property.
Robert B. McArtor, REALTOR®/Auctioneer YOUR Maryland Real Estate Agent
Long and Foster Real Estate, Inc. and Advantage Real Estate Auction Sales, LLC.
e-mail: robert@harfordadvantage.com
FREE Real Estate Reports - http:http://www.marylandhomesteam.com//
Auction web-site: http://www.mdauctionsales.com/
Cell: 443-392-4833 Personal Blog http://marylandshometeam.blogspot.com/
Call for your FREE Consultation in Baltimore, Harford, Cecil County and Surrounding Areas!
CALL DIRECT 443-392-4833
Robert B. McArtor, Licensed Auctioneer
Robert McArtor's Performance Guarantee...
Hiring a marketing firm is a major decision and our entire staff realizes you only have one opportunity to sell your property. From answering the telephone, placing signs on the property, preparing your advertising campaign to actual auction day our firm brings years of experience. We pride ourselves in our ability to define your properties highest and best use and market it accordingly. We will never take short cuts in marketing your property. If additional time is needed to work with local health officials, water departments, zoning boards or even local banks to obtain financing, we will address these issues with you. Our goal is to sell the property for top dollar. Robert B. McArtor is YOUR Trusted REALTOR and Managing Member of
We insure you the experience, professionalism and proven track record many clients have experienced throughout Maryland. From my personal involvement as Managing Member of our firm to the involvement of our entire staff, we are only a phone call away at 443.392.4833 or 410.879.0622.
You will be excited to know that Robert B. McArtors Home Selling System is by far one of the most aggressive in the industry. Visit http://http://www.marylandshometeam.com/ to find out more. Our award winning display ads, Free Virtual Tours, Free 800#'s assigned to each property we list and MORE! Call Robert B. McArtor TODAY to get your Real Estate Experience on the MOVE!
TESTIMONY: "Our search began in January and in a matter of 2 weeks we found our dream home. Robert and his team worked with us with financing, moving, even helped us moved our refrigerator! Now the good part, Robert was able to help us negotiate a savings of $5,800! on the purchase of our home. We were so excited, I referred my friend at work. Thank you Robert for a job well done." T.R. - Belcamp, Maryland
TESTIMONY: "My home was listed for three weeks with your team. I knew the property needed work when you listed it but had NO idea the interest. In just three weeks we had 23 showings, over 900 views of the Visual Tour you did for me and you negotiated a FULL Price contract! I am looking forward to settlement.....there is nothing more I could have asked for from your team." J.S.- Rosedale, Maryland
TESTIMONY: "Just as your ad stated, we saved not only $5,000....but just over $12,000 on our home purchase, thank you thank you thank you!" M.K. - Jarrettsville
TESTIMONY: "Robert, you met with my husband and I this past weekend and just wanted to say thank you. We were very impressed and very informed about the Auction Method! Because of your advise on our situation with our home. We are looking forward to listing the property with you. Please let us know a good time to meet."
TESTIMONY: "We are looking forward to a successful Auction here in Baltimore. You booked our property today at 12 noon and just like you said, it is on your website less than 12 hours later. WOW, were we impressed. Your professionalism went a long way when deciding on using your services. We are looking forward to reaping the rewards of your marketing abilities."
TESTIMONY: "Thank you Robert, you and your Buyer Agents helped us save $12,345.00 on the purchase of our home. We were going to use a Virginia Broker who was also licensed in Maryland. You and your agents actually live in Maryland and was much more aware of the market conditions and your negotiating skills were excellent. I would recommend you and your Buyer Agents to anyone looking for a Home in Maryland. Also, you were very accessible to us by phone and email." L.Perry, Harford County
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