Short Sales, Foreclosures and a Big Secret
By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
It is difficult to avoid the subject of short sales and foreclosures when discussing real estate these days. We receive ongoing emails and calls from people wanting to buy short sales and foreclosures because they want the best deal possible. They believe that the best buys can only come from bloodied sellers and lenders-and that somehow real estate agents are the best bloodhounds of all (which is often true).There's this misconception floating around that if a lender is willing to shave off some of the debt owed on the property and sell it for less than what is owed, it must be a good buy. The same logic is also applied to foreclosures.But reality sometimes paints a different picture.Many of our San Diego clients have been able to get outstanding buys on real estate not through short ...
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