Many homeowners ask me about how a Short Sale will impact their FICO score. They often want to avoid a short sale because they are worried about their credit score being negatively affected as a result. My response is usually, “The truth is, you are already over 3 months behind on your mortgage payment. Unfortunately your credit score is already negatively impacted. And it will continue to get worse if you do nothing. Furthermore, given the choice between a Short Sale and a Foreclosure, your credit score will fare much worse if you go into Foreclosure.”
But there are recent developments on this front. Fannie Mae now has a 2-year elapsed time period for reestablishing credit for homeowners who sell their homes through a Short Sale. If the homeowner goes through a foreclosure, this time period is 5 years. And if the homeowner files for bankruptcy, the time period is 7 years.
So given the options of Short Sale, Foreclosure, or Bankruptcy, the least impact to your credit is the Short Sale. After 2 years, you can then apply for a loan. Two short years as a renter, and you have another chance to purchase a house.
If you are a homeowner in distress, I will explain the various options available to you, and can help you avoid foreclosure. Feel free to give me a call at 917-826-0342.
The below Market Report is for selected areas in Brooklyn, NY: Bedford-Stuyvesant, Brownsville, Bushwick, Canarsie, Crown Heights, Cypress Hills, East Flatbush, East New York, Flatbush, Flatlands, Ocean Hill, Old Mill Basin. This information is gathered from Brooklyn MLS (it is not inclusive of all properties sold in these areas).
Two Family Homes
Median Selling Price – $532,400, a decrease of 14.8% from November 2007
Closed sales – 12 Days on market – 213
Total Active Listings as of November 2008 – 602 Bank Owned – 29
New Active Listings this month – 50
Expired Listings this month – 48 Days on Market – 181
The below Market Report is for selected areas in Brooklyn, NY: Bedford-Stuyvesant, Brownsville, Bushwick, Canarsie, Crown Heights, Cypress Hills, East Flatbush, East New York, Flatbush, Flatlands, Ocean Hill, Old Mill Basin. This information is gathered from Brooklyn MLS (it is not inclusive of all properties sold in these areas).
One Family Homes:
Median Selling Price – $365,000 a decrease of 19.78% from November 2007
Closed sales – 9 Days on market – 171
Total Active Listings as of November 2008 – 279 Bank Owned – 11
New Active Listings this month – 26
Expired Listings this month – 29 Days on Market – 136
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EXIT means Safe Passage. Whether you are moving in, or moving out, when you EXITwithMarcia, that's what you get - a Safe and Smooth passage! I'm a Seniors Real Estate Specialist (SRES Designation).
Buying or selling a home is one of the largest financial transactions that most people ever undertake, so I will help you through every step of the process. My goal is to make your home buying or selling experience as easy and enjoyable as possible.
My professional career has provided me with a unique and invaluable array of life experiences, strengths, and strategies which I bring to the table when working with sellers and buyers in my area.
I welcome the opportunity to answer any questions you might have about buying, selling or current market conditions. Please call or email me any time, and I will be happy to discuss your next steps in the buying or selling process.
Having lived in Brooklyn, NY for over 25 years, I love my city and have a keen insight in the development of my community. My natural ability to provide excellent customer service, coupled with my love for New York City, lays the foundation for me to capably assist buyers and sellers in this city.
I service most of Brooklyn, with a concentration in Canarsie, East Flatbush, Old Mill Basin, East New York, Brownsville, Bushwick, Bedford-Stuyvesant and Crown Heights.
There are many things I can say about the high quality of service I provide to my home seller and home buyer clients, but probably none would be as credible as testimonials from some of my recent clients themselves. So please take a moment to read the following testimonials. I hope they indicate my experience and integrity, as well as make it clear how much I enjoy helping people with their real estate needs. I would be happy to email you additional testimonials if you are interested.
Marcia, thank you for selling my house very quickly. In this market that's saying a lot! I appreciate you being honest with me in helping me understand the changes I needed to make to make my house more appealing to buyers. I am so pleased with the price and terms you negotiated on my behalf. Your professional manner really makes people want to work with you. Even the way you helped the new owners by ensuring all was fine after they took possession of the home was admirable. You demonstrated that going above and beyond is what separates you from the ordinary agent. I hope you will be working in NJ by the time I’m ready to sell my new home so I can use your services again!
Helen D, Brooklyn NY
Selling, Buying and Relocating isn't an easy thing! But with a professional realtor like Marcia Kirton, the process was more rewarding and less stressful than I anticipated.
Marcia held my hand throughout the entire process allowing me to sell my home in a very reasonable time. She connected me with other professionals that would assist me in the process of relocating to another state and purchasing a new home. She also assisted the buyers of my old home in settling into a new location. All this without compromising any of her strong ethics and business savvy. Marcia is an excellent professional. She is also caring and understanding and gets the job done. She stays focused when everyone else is going nuts! Her positive influence and gracious smile is contagious. If nothing else I looked forward to her "okey dokey" when a challenge was presented. That wonderful word and beautiful smile made me feel good. I knew that whatever it was I thought was going to be an issue, Marcia would resolve it in no time.
Whether selling or purchasing a new home, Marcia Kirton at Exit Realty Professionals is the way to go! She will not let her clients down!
C. Llewellyn, Woodhaven NY
Thank you for your honest opinion, advice, direction, and a listening ear. You bring charm, brilliance and confidence to the real estate profession. I look forward to a continued relationship with you.
A. Lynch, Brooklyn NY
Marcia, You are a very reliable and trustworthy real estate agent. I always appreciate your honesty and objective feedback. We can always count on your great sense of humor and fresh perspective to every situation.
R. Fife, South Ozone Park NY
Dear Marcia, Please accept our sincere thankfulness for your courteous, efficient & highly professional service. Your patience and pleasant attitude will always be remembered. We wish you continued success in all that you encounter. It was a joy working with you.
Lynette & Edward, Conyers GA
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