Orville Fillbrandt

Prices are down on foreclosure homes and potential short sales; therefore, with our record low interest rates, there has not been a better time to be a buyer!  Foreclosure homes that are priced right sell quickly so it is important to be represented by a qualified REALTOR to move expeditiously when you find the right property for you.  When you purchase a potential short sale home, you need to be prepared to be patient; because after the seller and you, the buyer, agree to price and terms, the sellers lender needs to approve the sale as they will be short on what the current loan on the property is worth.  The key to that is if the seller has a hardship and the sale is reasonable to the competition of homes.  Potential short sales may take weeks to get the sellers lender to approve; however, it is more often months before approval is received.  Whether you are buying or selling, the key is to be represented by a qualified REALTOR to meet your needs.

Orville Fillbrandt