Short Sales

Silver Lake Short Sale! Sunset Silver Lake Loft unit new to market!

Silver Lake Short Sale! Sunset Silver Lake Loft unit new to market! If you've lived in or been through the Silver Lake area in the last few years you are probably familiar with the Sunset Silver Lake lofts that were built in 2007.  In the heart of Sunset Junction, these live/work lofts were a welcome addition to the area.  A total of 43 architectural units grouped into 4 buildings where developed by the Kor Group and designed by award winning Rothenberg Sawasy Architects. These well appointed units include commercially inspired kitchens with stainless steel appliances, stone countertops, tiled baths with large soaking tubs and inside laundry hookups.  Underground parking and gated entrance provides security to the residents. Sunset Silver Lake Lofts in Sunset Junction...

Short Sales and Los Angeles Short Sale Alternatives

When the real estate bubble burst, a lot of homeowners found themselves on the losing side in terms of property ownership. There are a lot of people with monthly mortgage payments that exceeded their monthly net income. In combination with the drop in property values, a lot of folks have been left not knowing what to do. It is due to this dismal situation that the short sale became a household name. Realize, that if your property has enough equity in it, you can sell it through conventional channels. If the amount owed on your property is more than what is is currently worth, you might be a perfect candidate for a short sale.  I've written previous posts about short sale and you can click on any of these links for more information.

Short Sales In Los Angeles- Why a Short Sale is better than a foreclosure

Short Sales In Los Angeles- Why a Short Sale is better than a foreclosure I've been exploring the Los Angeles Short Sale process, specifically short sales in the Silver Lake area. By now you know what a short sale is, what might qualify as a short sale hardship, and what goes into a short sale package. Short Sales In Los Angeles- Why a Short Sale is better than a foreclosure...

Short Sales In Los Angeles, CA – The short sale process

I've been exploring the LA Short Sale process. By now you know what a short sale is, what might qualify as a short sale hardship, and what goes into a short sale package.  Now you are ready to list your house. This information is pertinant to both short sale seller and buyers interested in an LA short sale.  Both parties need to know what is involved in making an offer that will be acceptible to the bank and what the short sale process entails. The seller has already completed the ...

Short Sales In Los Angeles, California – What is a short sale package?

If you are new to short sales and seek more information, you can read a prior post here to understand what a short sale is. If you already know what a short sale is and wonder if you qualify, read this point about hardships and qualifying for a short sale. Once you have determined that a short sale is the right thing for you, you can start gathering together the information necessary for your agent and your lender.
Short sale help...

Short Sales In Los Angeles, California – Am I qualified to short sale my Silver Lake home?

If you are not clear on exactly what a short sale is, please read my post about what buyers and Sellers should know about Los Angeles short sales.man under debt You may own a house in Silver Lake and you now owe your lender more than the house is work, but that doesn't mean you automatically qualify for a short sale. Most people who bought property in Silver Lake and the surrounding areas during the height of the market are in that position. We can't all just decide we don't want to keep making our payments and expect our lender to take a huge loss. Lenders have certain standards to determine whether they will...

Short Sales In Los Angeles, California – What You Need To Know If You are Buying Or Selling

If you live in Los Angeles, you most likely have heard about short sales in Silver Lake, Los Feliz, Echo Park, Eagle Rock and surrounding neighborhoods. You may have heard about them from your friends, a newspaper, television, your neighbor or even a family member. What is a short sale?  A short sale takes place when a homeowner sells his or her home for less than he owes on his mortgage(s). Since prices were so much higher 4 or 5 years ago, there are a lot of people who paid more for their houses at that time than they are now currently worth. If a homeowner needs to move or must sell because they can no longer afford their payments, it is unlikely the current market value of their house is anywhere near what they owe on it. For example: You have a loan on your house for $650,000 but in the current market, a buyer is only willing to pay $450,000. Perhaps a similar home down the street recently sold for $435,000. Based on that, a buyer is not going to be willing to pay much...
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