If you are sitting on the fence, you are not alone.  Many home buyers just like you, are waiting to see what happens in the real estate market.  It isn’t surprising home buyers are missing out on terrific real estate opportunities.  With all the doom and gloom in the news regarding the nation’s real estate market, banks going out of business and the high number foreclosures I am not surprised that you are hesitant about purchasing a home.

The truth of the matter is …

The high number of foreclosures, bank closings and mortgage defaults are creating a great “BUYERS MARKET”.  These issues have resulted in lower interest rates, which have dropped to “historic lows” currently around 5%. The number of foreclosures has increased, resulting in additional competition that is driving down home prices, and forcing sellers to offer closing costs assistance.

It is ironic that the very issues that the media has been focusing on are the very
reasons why you need to get off the fence today.

We are offering Free Home Buyers Bus tour of bank owned and foreclosed homes on January 24, 2008.  Connie Ramsay with the Lending XChange, Sean Schroeder with The Real Estate-XChange, John Burke whit House Masters and Alison Rodriguez with Title Quest, will host the tour.  We are there to show you homes, and to discuss with you the ins and outs of purchasing a home in today’s exciting real estate market.

One last thought, as interest rates hit these historic low’s, a small increase in home prices of 10% will negate a 1% decrease in your interest rate.  The old saying is “Buy Low, Sell high” this is about as low as we can go.

Call today to for more information on our Home Buyers Bus tour at 757-839-5452 or email kathy.schroeder@757realproperty.com

Sean Schroeder, REALTOR

The Real Estate-Xchange
757-893-3954

It is a wonderful time to purcahse a home! Prices are low, interest rates are low and in 5, 8 or 10 years the purchase you make now will have more equity than if you wait. For this reason, we are putting together a "Home Hunters Tour" featuring up to 10 or more homes, personally selected and previewed. Many of these homes are Pre-Foreclosures, Short Sales, Bank Owned or Standard Listings. All of these homes will offer the home purchaser substantial value, and strong equity gains in the years to come.

For More Information on the up coming Home Buyers Buys Tours
Email Kathy Schroeder
or Call 757-839-3954

Smithfield Virginia is a wonderful town located in Isle of Wight County, it was established in 1752 by Arthur Smith IV and was incorporated in 1921.  The area was also known as Warascoyak by the Native Americans which means "point of land".   Due to the proximity of Smithfield to the James River, the town witnessed action during both the Revolutionary and Civil Wars. Smithfield is best known for the curing and production of ham, best known is the Smithfield Hams.  Based on the United States Census Bureau Smithfield has a total of 10 square miles where 6,324 call home. 

If you are looking for a cozzy, quite town with history, than Smithfield maybe an ideal location for you to consider.  Currently there are 341 active  listings and 12 of these homes are SHORT SALES!  Short Sales in Smithfield Virginia, offer a great opportunity to purchase a home in a small town with many modern conviences, and to have instant equity!    Short Sale properties in Smithfield Virginia may take a little longer to close, but as a home buyer you have the ability to negoitate a great price! 

I am currently representing a beatuiful single family home in Smithfield Virginia. 

Throughout the day I am contacted by home owners who are, or soon be, behind in their payments, unable to sell their home because they are "upside down"  or are facing family issues such as a divorce or loss of a job.  These home buyers, like you are looking for options.  One option is a Short Sale, this is a list of questions that I receive and some general answers to those questions.

1. What is a Short Sale?
   
   A: Simply put a short sale is when you the home owner offers your home for sale below what you owe on it, asking the bank to take a loss.
    
2. I am not behind on my payments, but I can't sell my home because I owe more than the house is
   worth.  Will the bank approve me for a short sale? 
   
   A: We can list your home below what you owe on it making any purchase agreements "contingent"upon the banks approval. There is no such thing as "Short Sale approval"
   
3. When I purchased my home, the bank required PMI how will this affect a short sale?
   
   A: First the bank required the insurance to protect their interest in the property not to protect you.  Once a ratified contract is received it is sent to the bank for bank approval.  The bank will not give permission until the Insurance Company approves the short sale.
   
4. How will  short sale affect my credit score?
   
   A:  In general if you are behind in your payments these rolling lates will show up on and lower your credit score.  It is easier to recover from a short sale than it is from a foreclosure.
   
5. I recently missed my mortgage payment, and know that I will miss my next payment as well.  How long do I have before the bank forecloses on my home?
   
   A:  The foreclosure processes can begin at anytime that the bank feels it is necessary.  However, generally it can take up to 6 months before the bank actually does foreclose.  In some cases by listing the home, and actively working to find a buyer, the bank may be less likely to foreclose.
   
6. I am ready to get out from under my house, what should I be prepared to do to?
   
   A: Your agent will ask you for your financial information when you have a ratified contact including pay stubs, bank statements, purchase agreement, listing agreement and most importantly a hardship letter.
   
7. I am living paycheck to paycheck and don't plan to walk away from this sale with anything.  How can I afford to pay your brokerage fee?
   
   A: First as a short sale, the bank will not approve the sale if you receive any funds or contribute any monies to the buyer.   Further, any existing escrows or monies owed to you from the taxes will go directly to the bank.  As for the brokerage fee, this is paid by the bank. 
   
8. Do I have to claim the short sale on my taxes as income?
   
   A: Once the bank approves the short sale, they issue a letter outlining the conditions of the short sale.  Due to the fact that the bank is losing money, and the money was loaned to you the home buyer, you will receive a 1099C for the deficiency
   
9. Will I still be responsible for the property taxes?
   
   A: The home sale must transfer free and clear of all liens, including taxes.  Yes, you will still be responsible for the taxes, unless the bank has agreed to bring them current.
   
10. How long should it take for my home to sell? 
    
    A: The great news is that because you are selling your home short, we can price and market your home to a larger audience and to a group of home buyers that are looking for a great deal, or as I like to call them "wholesale" buyers.  This will result in a quicker sale, after all price is King!  
     

My name is Sean Schroeder, a REALTOR and member of the National Association Of REALTORS ( NAR).  My job is to help you, my client, with your real estate needs. In this case, my job is to help you sell your home, to help you start over, everyone deserves a second chance.

If you find yourself in a situation where your mortgage payments have gotten out of control due to interest rate adjustments, loss of employeement, family changes or other situations please call me today to discuss your options and how I can assist you. 

Sean Schroeder, REALTOR
The Real Estate XChange
757-839-3954

seanschroeder@757realproperty.com
www.HRSHORTSALES.com

The Real Estate XChange 517 Baylor Ct, Chesapeake Va. 23320   

The Real Estate XChange 

Wonderful news for qualified home buyers!

Call today to learn how to qualify! Remember you have to find your home and
close on it before July 1, 2009

517 Baylor Ct. Chesapeake Va. 23320

Interested in buying a home in Virginia Beach, Chesapeake, Norfolk, Suffolk?  The good news is that there are thousands, litterally ten of thousands of homes currenlty available.  You have heard the old saying about stocks: "Buy low.. Sell high", the same holds true to real estate purchases.  

Buyers, your out of pocket expenses are LOW, almost non-existant, sellers are paying the majority of the buyers closing cost.  Some title agencies are crediting or lowering their fees.  One such title company I deal with has lowered their fee by $250.  On top of that interest rates are low, historically low, yes banks are being carefull but they only have one product to sell -- MONEY, and they only earn more money if they sell money.  The banks are making this money readily available to qualified buyers at LOW rates.  Last but not least, home sellers are reducing their asking price. Recently one builder told me that they have reduced their new homes by as much as $40,000!

Interested in purchasing a home in Hampton roads, call me today

Sean Schroeder
The Real Estate-XChange
757-839-3954

Culd-de-sac

• 2,226 sq. ft., 2 bath, 4 bdrm 2 story - MLS® $1,600 USD Monthly - 4 Bedrooms

alexandria_kempsville, Virginia Beach  -  Great 4 Bedroom 2 Bath home on cul-de-sac. Enjoy fire place for a romantic touch! Freshly painted, Large Eat-in Kitchen & open floor plan. Located in Alexandria neighborhood. Walk to newly updated neighborhood park.

Property information