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All agents are NOT alike! Find out why I am a top real estate expert. Call me at my direct number: 973-290-7903.
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Marlene Really Shined "We were particularly delighted with the efforts of our agent, Marlene Ginsberg, whom we viewed more as a partner than as a seller's agent." Alfred & Evelyn Spinner - Orlando, FL - Aug. 2000 Read Quote > View All Quotes >
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Marlene Ginsberg
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In this current economic slowdown which comes on top of a depressed real estate market, both buyers and sellers should understand the short sale/foreclosure dynamic and its impact on the real estate market. What questions should you ask and what are the answers? GO NO FURTHER. My team is trained to provide you with THE ANSWERS. WHAT IS A SHORT SALE AND HOW DOES IT COMPLICATE A REAL ESTATE TRANSACTION? A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank agrees to discount a loan balance because of an economic hardship on the part of owner. The negotiation is all done through communication with a bank's loss mitigation or workout department. The home owner sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. It would have the right to approve or disapprove of a proposed sale. A short sale typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is based on the most economic way for the bank to recover the amount owed on the property. The Big Problem: The Buyer has a contract for sale and must wait for the bank's approval which can often take SEVERAL MONTHS. WHAT ISSUES ARISE IN BUYING A FORECLOSURE PROPERTY? Because these homes are purchased "as is" from the lender, there is no guarantee of condition. Sometimes it is possible to inspect these homes prior to making an offer but sometimes, access is not granted. When sellers realize they are about to lose their homes through foreclosure, it's not uncommon for them to stop caring about the home. If something breaks or malfunctions, they aren't going to fix it. If they are angry or desperate enough, it's possible they might actually damage the house, such as smash out walls, then pull out the copper pipes and wiring to sell as scrap metal. Owners will also sell the appliances and kitchen cabinets. Buying foreclosures is not for the faint of heart. WHAT HELP DO I NEED? We have relationships with several of attorneys who have successful closed a number of both short sales and foreclosures. WHST'S THE NEXT STEP? CALL THE GINSBERG TEAM! 
Interest Rates >Affordable Home Loans
A whole new crop of homebuyers emerges every year. With interest rates remaining relatively low, more interested buyers than ever before are applying for home mortgage loans. Affordable loan packages are creating more investment possibilities for second homes. Trade-up or scale-down buyers are free to move into an exciting new home or condo, making more starter homes available for first-time buyers.
The advantage goes to the seller when there are more buyers than homes for sale. But in a market where the inventory of homes is growing, the competition between sellers increases and gives buyers more options. More competition is not a problem if the local market is moving at a lively pace.
Affordable loans and a wide variety of financing options make it an excellent time to buy or sell real estate.
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| Q |
What area in the U.S. is known for its pre-civil war mansions?
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| A |
Natchez, Mississippi boasts over 500 pre-civil war-style mansions; many are open to the public as museums. |
See More Real Estate Trivia > |
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