28% of US homes are 'Underwater'
This phenomenon engineered by 'Wall Street' has placed the American homeowner into a trough from which he will never recover. The above 28% represents an endless supply even after the current 5 milion home excess inventory is disposed of. But the biggest impediment to the return of prices is that homebuyers cannot and never were able to afford such high prices. Remember, although employment is rising, wages are not. By the time prices return(5-10 years or more) the price of a cup of coffee will have risen to $5 or more(inflation).
2% LISTING AGREEMENT
This is ideal If you have marginal equity and yet must sell. Your responsibility will be to show the property to clients. I will send you pre-qualified clients through advertising on the internet, listing on the MLS and other venues. This process may take a little longer but you should be able to sell 'at the market' or 5% - 10% above the market, depending on if your home is in 'showcase' condition and upgrades. In this market, your competition is mainly REO's(bank owned) and short-sale properties; most of which are in bad to horrid condition.
Buyer agents are becoming fewer and fewer and more and more buyers are now looking on the internet without the the use of a buyer's agent.
If you are in midst of a foreclosure, I can help you with a short-sale or possibly a loan modification. Call or email Mel for details.
|Real Estate Independents
Thank you for being my friend and client, many of you for years. I am here to assist you in any way I can and please forward this email to anyone whom you think would benefit from it.
9474 Palo Alto St.
Rancho Cucamonga, California 91730
Real Estate Independents
The American psyche is changing.
The vision is no longer what you want but what you need.
With the understanding that seeking the things you want (fancy homes & cars) leads to empty promises.
But seeking the things you need leads to fulfilling dreams.
The Money Class - by Suze Orman