Health & Fitness
Short Sale Real Estate Transactions in Hingham?
There are 8 homes offered for sale as short sale transactions in Hingham, Cohasset and Scituate. Are you up to speed on what a short sale is? And will this become part of the new normal?
Can you believe that between Hingham, Cohasset, and Scituate that there are currently eight properties offered for sale as a Short Sale? And Six properties in the last six months have been sold as completed as short sales?
Well as much as it appears that the local real estate market has shown some signs improvement, and my Market Reports indicate the same, it also appears that there is no shortage of people who owe more than their home is worth - even locally. "Oh, that doesn't happen here." We have all heard that before, that the bad news in the real estate market is in other communities, not in our backyard. The facts don't lie, there are eight homes for sale now that are short sales. Short Sales may very well become part of the new normal.
What is a short sale? In very simple terms, a short sale is a real estate transaction where the seller sells their home for less than is owed on the outstanding mortgage(s), and the lender agrees to release the mortage on the property for less than the lender is owed. Thus the lender is left with a short fall on the balance of the note. In some cases the lender may well forgive this short fall, but not in all cases. Also, it is worth pointing out that lenders will not simply agree to a short sale simply because you owe more than your home is worth. There needs to be a valid hardship before a lender will even consider allowing a short sale. I have written a longer blog post called, "Massachusetts Short Sales, Everything You Always Wanted to Know But Don't". This post covers the topic in much more detail. I have also up loaded a video below on Massachusetts Short Sales.
Find out what's happening in Hinghamfor free with the latest updates from Patch.
When selling a home in Hingham MA, it pays to have a pro in your corner representing you. And this is even more important when attempting a short sale. Will your agent dominate Google with an internet presence? Click here to see a brief overview in my online marketing Flip Book Presentation. Here is list of Real Estate interview questions to ask when interviewing your agent, that will help you determine if you are hiring a successful broker or not! Curious about a short sale because you owe more than your home is worht? Go to MassForeclosureHelp.com and get answers to your questions.
About the author: The above Real Estate information about Hingham MA Homes For Sale was provided by Bill Tierney, an internet savvy REALTOR who covers the South Shore real estate market for Virtual Homes Real Estate. Bill can be reached via email at William.Tierney@VirtualHomes.com or by phone at 617-653-1955. Bill has been a licensed real estate agent for over seven years.
Find out what's happening in Hinghamfor free with the latest updates from Patch.
Thinking of selling your home or condo? I have a passion for Real Estate and would love to share my marketing expertise! I specialize in leveraging today’s technology, such as social media, to maximize your home’s exposure.
For Massachusetts and Hingham MA Homes for Sale and condos see Hingham MA Real Estate For Sale.
Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder service. I service the following towns on the South Shore: Cohasset, Hingham, Hull, Scituate, Marshfield, Norwell, Weymouth, Quincy, Duxbury, and Kingston. Click here to view Bill Tierney’s Real Estate Profile.
