Market Trends: 5/18/2012
Distressed
Market Snapshot
Total Properties Listed:
39
Month-Over-Month Change: -2.5%
Average List Price:
$97,985
Month-Over-Month Change: +8.67%
Median List Price:
$70,000
Month-Over-Month Change: N/A
Typical Property
Single-Family Home
3.27 Bedrooms
2.33 Baths
$97,985 Average List Price
$56/SqFt Average Price per SqFt.
Average Price by Bedrooms:
1 Bedroom:
N/A
2 Bedrooms:
$57,500
3 Bedrooms:
$90,911
4 Bedrooms:
$194,233
5 Bedrooms:
N/A
Top 5 Most Viewed Properties
FORECLOSURE / Bank Owned / Short Sale, NC Real Estate:
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Greenville, NC
Real Estate Listings
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Greenville, NC: 2,597 Listings
FORECLOSURE / Bank Owned / Short Sale Real Estate
About FORECLOSURE / Bank Owned / Short Sale
The current economic climate has resulted in an unprecedented number of Greenville NC foreclosures. Many Greenville families are facing distress situations they never thought they would face in their lifetimes and in many cases foreclosure has been the result. But there are other options! A short sale may be the answer to avoiding foreclosure.
Reasons To Avoid Greenville NC Foreclosure
A foreclosure can have long term, devastating effects on your credit, your job, and your family.
1. The foreclosure must be disclosed on any future mortgage application and many job applications.
2. Credit scores will be lowered by 300+ points.
3. A foreclosure on a credit report is almost impossible to have ‘repaired’.
4. The lender can seek a deficiency judgment to collect any loss incurred.
5. Many employers run credit checks. A foreclosure may put a potential new hire in jeopardy.
6. Many current employers run credit checks. A foreclosure may put your job in jeopardy.
7. Security clearances and government positions can be jeopardized.
8. The borrower is responsible for deficiencies after the foreclosure.
What is a Short Sale?
A Short Sale is when a borrower owes an amount on his property that is more than the current value of the property, thus being ‘short’. A Short Sale occurs when the lender, or lenders if there is more than one lien on the property, agrees to accept less than the full balance of the loan at closing. The property is ‘sold short’.
A Short Sale is a way to avoid a Greenville NC foreclosure, not a ‘get out of my mortgage free card’. In order to have a short sale approved, the borrower must have a valid financial hardship as the reason they can’t pay their mortgage.
Families want to avoid a Greenville NC foreclosure if at all possible, A Short Sale may be the answer to saving your home, your credit and your family. I am a Certified Distressed Property Expert (CDPE) with extensive training working with families in distress. The clock is ticking. Give me call today for a private consultation.