Positive News Everywhere You Look

I don't know if you have noticed but the media seems to be flush since the election with positive news !! Yeah !!

First, we have had the two mortgage giants Fannie Mae and Freddie Mac agree to hold off on foreclosures that are now pending in light that they are going to have a new work out program for people to save their homes. I believe that this will greatly effect us in real estate as a lot of homes will now come off of the market and people will be able to remain in their homes versus dumping them as short sales. So, two big benefits, less inventory which in turn will lead to less bank repos being sold at reduced prices.

Second, we have had the biggest run up in the stock market since 1987, first two day advance since September and we are talking big numbers not 1 or 2% increases in stock prices but the likes of 20% plus. This is even holding over to the auto industry as GM ended their deal with Tiger Woods that was costing them $20 million per year and they are cutting other expenses and working on getting their business in order.

Third, is this bailout of Citigroup which had a lot of people worried, and they are saying that the taxpayers might even make some money on the deal.

Fourth, In Charleston we have had over 20,000 transaction sides (10,000 properties) close in the MLS in the past 12 months, so what our market has done better like in 2005 but that was a pace that could not keep up forever, we are now back to earth with a normal amount of houses selling, we have just got to get the supply side under control which hopefully the move by Fannie Mae and Freddie Mac will help accomplish.

Fifth, rates are extremely low, there are some good deals to be had by those that are smart enough to buy now. So, pick up the phone and give me a call to take advantage of this market and don't forget to tell your friends and relatives, too.

Thanks, David Wertan & The Wertan Team of Re/Max Advanced Realty 843-270-6455

Short Sales & Other Alternatives to Foreclosure

Foreclosure has often been thought of in the past as a dirty word ..... to think that someone would not make the payments on their home was unthinkable. Well today in today's economy a lot of people do not have a choice, they got in over their head as they thought the real estate train would never stop and they figured they had better jump on quick. And they did in record numbers, without back up plans, without established savings accounts or emergency accounts.

I too got caught up in all of the frenzy and wound up buying some properties that I now just cannot afford.

Well there is a solution that is much better than foreclosure and yes it will effect your credit but it won't kill it. The short sale as you may have heard a lot about recently in the media and amongst friends and family is a way out, basically a short sale is where the bank takes less than what is owed on the house to save the money it would costs for them to foreclose. It saves the bank thousands of dollars, which is good for the economy, it moves the property through the system quicker which again is good for the economy, and it does not kill the sellers credit which will eventually be good for the economy as they will be able to buy again sooner than later.

All around WIN --- WIN ----- WIN.

Sounds easy doesn't it. Well it is far from easy, it is like pulling teeth to work with these banks that are already in terrible financial messes themselves and it is difficult to get home owners to realize they have an alternative and then get them to work with you in a timely manner to supply the mortgage company with all of the information that they need.

It can be done and we are doing it every day. So, if you or someone you know is having difficulty making their payments and foreclosure just sounds like something they do not want to experience than a short sale is the answer.

First you must look for a Realtor that is still actively selling homes, not those that are sitting whining like little babies about how the market has changed, but those that are taking the bull by the horns and going out and selling homes to buyers that are in this market looking to buy NOW. While prices are down and rates are low !!

Second you need to make sure your Realtor can expose your house to the buyers that are in the market, most of which are finding their homes on the internet. www.remax.com is the #1 Real Estate company site in the world and nobody else even comes close. I also spend a small fortune hosting my own websites of which www.DavidWertan.com is the main one and we also post your home to 19 other different sites like craigslist, yahoo, zillow, etc, and to 14 other real estate agents web sites.

All of this together with our attitude and ability makes it where we can get your home sold. So, Call me, David Wertan & The Wertan Team of Re/Max Advanced Realty in Charleston, SC, at 843-270-6455