Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers. Here are five of our reasons: 1. There Are Too Many People to Negotiate […]
When a homeowner is unable to make their mortgage payments or owes more on the home than it’s worth, a short sale can be a viable option that avoids the negative implications of a foreclosure for both the homeowner and the mortgage-holder. However, common perceptions of short sales as difficult, lengthy, restricted to specific circumstances, […]
The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases. According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every […]
First off, my apologies for the racy title, but it quite true. A deficiency balance, depending upon where you live, can come back to bite you in the butt; it could haunt you years later. So… you had better watch out! What Is a Deficiency Balance? In short sales, the short sale lender often approves […]
Congressman Bill Foster (D-Illinois) introduced the Homeowners Debt Relief Extension Act (H.R. 3856) on Tuesday. The bill would extend the mortgage debt tax exemption that’s been in place since 2007 for another two years. The Mortgage Debt Relief Act of 2007 makes debt that is reduced or cancelled through a loan modification or debt forgiven […]
Michael has been the most knowledgeable and responsive real estate agent I've ever dealt with. You want someone who has experience navigating different banks, title companies and their processes - and Michael knows these paths thoroughly. I highly recommend him and will use him again in a heartbeat.
Michael Babbitt pays great attention to detail and very responsive. Impressive knowledge for all areas of real estate. It was enjoyable to work with him.