It’s a normal thing these days, but still so many people feel alone and just don’t know what to do when faced with foreclosure. I’m here to give you guidance, insight, and to be a resource if you’re faced with foreclosure now or in the future.
Foreclosure can be caused by many things; loss of employment, increase interest rate, illness, decrease in pay, or can be more strategic if you’re making a business decision to cut the ties of your under water property. No matter what the reason, there are many options in preventing foreclosure that are most often better than letting the property go into foreclosure.
If you’re looking to keep your property, rather than just let it go, the options are going to include a loan modification and/or forbearance. In my opinion these programs are smoke and mirrors; lenders often offer these options with upfront cost involved, but few actually work out and the money is lost. These programs are suppose to be offered to everyone, in an effort to “prove” to taxpayers that their tax dollars are being put to use in trying to help drowning homeowners. Unfortunately, these programs are often a let-down.
For a homeowner that may have come to terms with letting the house go, whether strategic or not, there are a few other options. These foreclosure alternatives include doing a short sale or deed in lieu. A Short Sale is the best option of the two for many reasons. With a short sale, your qualified short sale agent (Tara Camp), will be able to negotiate with your lender(s) for a full release of the debt...in writing, if she can’t she’ll tell you to run the other way:) Another benefit of a short sale is that your credit will be salvage somewhat depending on your situation, but typically it will only take a few years to recover your credit, opposed to 7-10 years. There are also monetary incentives for short selling, which range from $1000-$25,000.
If you find yourself faced with foreclosure or are considering giving your house back to the bank, please consider your options. Many people hesitate to find help, but it can make the difference in a lot of money if you don’t consider your options and find out what the implications of a foreclosure are. Call me today for a FREE confidential consultation.
*A short sale is a free service offered by your lender. If they tell you that you don’t qualify, give me a call and we can do a 3-way call with them because it's most likely not accurate information given by a bank representative.
Thanks for reading.
~Tara
Tara Properties NW | TaraPropertiesNW@gmail.com | 360-296-3244 | Keller Williams
Short Sales are a mystery in and of themselves, so I’ll break them down in segments to try to make some sense of the damn things. So, let me start by taking the mystery out of the short sale pricing...hmm, 1st let me complicate things and say there are probably a few different aspects of pricing that one could get confused about. So to start, here’s a scenario; as a buyer you see a list price on a home. You assume that if it’s listed at $100k and you offer $100k, then it’s a deal, right? Wrong! Short Sales are short sales, which means no price is final until the deal closes. Why, one might ask? Well, because the definition a short sale, means that the seller is selling short of what they owe, therefore, the lender must agree to the final price. The conundrum lies in the fact that the lender typically will not approve a price without an offer. Therefore, the listing agent must price the property without knowing what the lender will accept. Yes, we as agent use comparable sales in order to price the subject property, but still there’s no guarantee that the seller’s lender will accept until negotiations begin...and well, end.
So, what does all that mean? Agents that list Short Sales must price the property according you what they think a buyer may pay. From there a buyer makes an offer & negotiations begin with the seller’s lender. The seller’s lender then must accept or counter the offer. Once negotiations are finalized, the process moves to closing. Yay! Short Sale are the best deals on the market in my opinion, but they are not for everyone. They take patience, but good things come to those who wait.
TaraPropertiesNW@gmail.com | 360-296-3244 | Keller Williams Western Realty
South Hill Neighborhood Market Statistics - Bellingham Real Estate
March 2011 Homes for Sale (17)
Pending Sales (1)
Sold Homes (1)
ABSORPTION RATE: 17 Months ACTIVITY INDEX: 17 Months |
Median Price The Chart below compares the historic median price of sold and active inventory in the South Hill neighborhood. Neighborhood Inventory Neighborhood inventory is the number of active properties on the market and the number of homes sold in the South Hill neighborhood. * Included in this report is the South Hill neighborhood distressed properties. More likely than not these properties has an impact on the prices in the neighborhood. If a given NB has 5 distressed properties out of 6 sales, you can pretty much guarantee that the sales prices are going to be lower than in a non-distressed transaction & thus, have a declining effect on the neighborhood market, as well as, over all the Bellingham real estate market. |
Market your House to Sell not to sit on the Market
Sunnyland Neighborhood Market Statistics - Bellingham Real Estate
March 2011 Homes for Sale (8)
Pending Sales (4)
Sold Homes (2)
ABSORPTION RATE: 4 Months ACTIVITY INDEX: 2 Months |
Median Price The Chart below compares the historic median price of sold and active inventory in the Sunnyland neighborhood. Neighborhood Inventory Neighborhood inventory is the number of active properties on the market and the number of homes sold in the Sunnyland neighborhood. * Included in this report is the Sunnyland neighborhood distressed properties. More likely than not these properties has an impact on the prices in the neighborhood. If a given NB has 5 distressed properties out of 6 sales, you can pretty much guarantee that the sales prices are going to be lower than in a non-distressed transaction & thus, have a declining effect on the neighborhood market, as well as, over all the Bellingham real estate market. |
Market your House to Sell not to sit on the Market
South Neighborhood Market Statistics - Bellingham Real Estate
March 2011 Homes for Sale (8)
Pending Sales (1)
Sold Homes (0) ABSORPTION RATE: none ACTIVITY INDEX: 8 Months |
Median Price The Chart below compares the historic median price of sold and active inventory in the South neighborhood. Neighborhood Inventory Neighborhood inventory is the number of active properties on the market and the number of homes sold in the South neighborhood. * Included in this report is the South neighborhood distressed properties. More likely than not these properties has an impact on the prices in the neighborhood. If a given NB has 5 distressed properties out of 6 sales, you can pretty much guarantee that the sales prices are going to be lower than in a non-distressed transaction & thus, have a declining effect on the neighborhood market, as well as, over all the Bellingham real estate market. |
Market your House to Sell not to sit on the Market
Bellingham Realtor - Specializing in Bank Owned Properties, Short Sales, Lease Options, & Seller Financed properties.
In today's real estate market, it's important to have an agent that understands Bellingham's real estate market, as well as, financing programs & buyer and seller incentives. As your agent, my objective is to see you through a profitable, stress free transaction by knowing the market and providing you with great customer service. I will provide you with knowledge of the industry including information on bank owned real estate, short sale properties, & lease options. Our real estate market has changed, has your agent? Buying/Selling a home is one of the largest financial decisions you'll make during your lifetime, make sure you know your options!
My focus in today's market is Bank Owned properties, Preforeclosures, Seller Financed Properties, and Lease Options. Finding undervalued properties is like a treasure hunt & it's what I love about the business. Let me help you search out the next good deal. Whether you're looking to relocate, invest, or buy your first home give me a call to help with the process.
Equally important to your home purchase is the mortgage product you couple with your new home. There are many available and I can help you choose the right one.
Bellingham Real Estate
- Bellingham Real Estate - Bank Owned - under $199K - New Listings - Short Sales - $200 - $399K - Salt Waterfront - Lease Options - $400 - $599K - Lakefront - Multi-Family - $600 - 1Million - Luxury Homes - Condos - $1 Million + - Presale & Construction - Agricultural - Rentals - Manufactured Homes - Vacant Land
Ferndale Real Estate
- Ferndale Real Estate - Bank Owned - under $199K - New Listings - Short Sales - $200K - $399K - Salt Waterfront - Lease Options - $400K - $599K - Lakefront - Multi-Family - $600K - 1Million - Luxury Homes - Condos - $1 Million + - Presale & Construction - Agricultural - Rentals - Manufactured Homes - Vacant Land
Blaine & Birch Bay Real Estate
- Blaine Real Estate
- Bank Owned
- under $199K
- New Listings
- Short Sales
- $200K - $399K
- Waterfront
- Lease Options
- $400K - $599K
- Luxury Homes
- Multi-Family
- $600K - 1Million
- Presale & Construction
- Condos
- $1 Million +
- Manufactured Homes
- Agricultural
- Rentals
- Vacant Land
Lynden Real Estate
- Lynden Real Estate
- Bank Owned
- under $199K
- New Listings
- Short Sales
- $200K - $399K
- Waterfront
- Lease Options
- $400K - $599K
- Manufactured Homes
- Multi-Family
- $600K - 1Million
- Luxury Homes
- Condos
- $1 Million +
- Presale & Construction
- Agricultural
- Rentals
Everson Real Estate
- Everson Real Estate
- Bank Owned
- under $199K
- New Listings
- Short Sales
- $200k - $399K
- Manufactured Homes
- Lease Options
- $400k - $599K
- Waterfront
- Multi-Family
- $600k - 1Million
- Luxury Homes
- Condos
- $1 Million +
- Presale & Construction
- Agricultural
- Rentals
- Vacant Land
- Vacant Land
Want a custom Neighborhood Market Review?...give me a call or shoot me an email.
360-296-3244 or tara@taracamprealestate.com
I am an outdoor enthusiast! When I'm not eating, drinking, and breathing real estate I enjoy being surrounded by nature, getting physical. I can be found on a bike on Galbraith mountain, the inner urban trails of Bellingham, and biking up and down neighborhoods, checking out homes.
When it's cold and raining you can find me in one of the many terrific coffee shops around town reading or surfing. On a more adventureous day, I'll be found testing the snow conditions on Mt. Baker.
And when I have time to take tropical vacations I love to go on long cruises touring the world by boat, or going to Costa Rica to hit up some good surf. Boy, am I overdue!
My Community Associations:
Education Relating to Real Estate:
400+ hours of various training, taught by over 30+ instructors including but not limited to:
Testimonials
"Great.. I have to tell you. You have been one of the most "on the ball" realtors' I have worked with. Your quick, diligent, accurate, and most of all, you understand what economic state we're all in. It's been a real delight and I'm hoping that we can continue this relationship and make other deals." B. Anderson
"One thing that set's Tara apart from other real estate agents, is that she was predicting and advising her clients that prices were still dropping and would drop significantly further when virtually all other agents were saying we've hit bottom and prices were ready to appreciate again. This gave me confidence that Tara wasn't trying to rush me into the market by raising my expectations beyond reality as so many agents have done these last several years. She helped me find my dream property at a price I believe reflects market conditions as they will be over the typical irrational exuberance, even despite the recent economic turmoil. Additionally, she's laid back yet diligent about staying in contact. She's all this on top of being a real pleasure to meet for property tours or just signing some paper work at the local ice cream shop. I hope to be fortunate enough to work with Tara Camp again in the future." J. Kraus
Tara was an awesome real estate agent. We found Tara on the Internet as we had just moved up here and did not know many real estate agents. Tara made me feel comfortable from the beginning and I never felt pressured to rush. We worked with her for about 8 months before we saved enough and were able to find what we were looking for. During the buying process she was always calm and positive and with her help we found a house that fit us and we love! I would highly recommend Tara Camp to anyone looking to buy. B. West and D. Robbins
"Thanks so much for all the work you've done in helping us relocate. Moving to a new area is very stressful, but with the work you've done for us you've eliminated a lot of the stress. " M. & D. Gibson
"Although we didn't qualify for a home this go round, Tara has helped me get my ducks in a row, so that within 6 months we'll be able to buy our first home." S. Smothers
"Thank you so much. you are truly a God send to us. This will make our move so much easier if we can get everything in line before hand." T. Kimmer
"Thanks, Tara...this has been a learning experience for me. I appreciate the info you've given me." J. Carrie
"Thank you for all your hard work in helping us secure our home in Glenhaven. We did have access to the Internet and all the search engines for homes it provides. But we still needed a real estate expert to work with the seller, finance company, legal matters, inspections, home improvements, etc. You have made the process as smooth as possible. I will recommend your services to any one interested in buying or selling real estate". B. Albert
"Tara, You were choosen to be our realtor because you were warm friendly. You did not push anything on us. You would always go the extra mile, and even spent a whole day with us looking for homes. You are very special and really care about your clients. You are more like one of the family than someone trying to make a sale. You were very attentive and would always listen to us. I can't wait to start remodeling, You will be the first one we call." K. Albert
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
