Helping Homeowners Avoid Foreclosure in Roseville and Sacramento

Is it Helpful to Look at the Short Sale and Foreclosure Statistics from the Month of August?

Posted on Sep 17, 2012 in Roseville and Sacramento Short Sale FAQs

Hi, this is Mark Peek with Keller Williams Real Estate, your Roseville and Sacramento short sale specialist. I want to talk to you today about the rate of foreclosures in August. We just got a report that came out for August of this year and we did see an improvement. Foreclosures were down from where they were in 2011, but not as much as we would like. The Roseville and Sacramento region still ranks up in the top of all regions for the foreclosure rate. Unfortunately we have had seven years of this market so when our market started to decline was about June 2005. Luckily we now have a marginal improvement. The question is should you stay in your home, should you wait it out and how long is it going to take? So we now have a marginal improvement and it took seven years to get there. So at the current rate, how long is it going to take for you to break even on your house and should you stay? One of the things I recommend is for you to take a look at our short or stay calculator on our website. If you input your information on there then you can get a better idea of how long it’s going to take for you to break even and whether or not it’s worth it to you. At the end of the day it’s a business decision. Do you want to keep paying for something that isn’t worth what it is right now?

If we are talking about a small gap, then it’s probably worth staying but for every $100,000 that you are underwater on an average mortgage takes you close to about 10 years to recover and break even, so it’s something to consider. I suggest again to try the short or stay calculator. If you have any questions about your specific situation, and you may be considering a short sale, please contact us today. Again, I’m Mark Peek with Keller Williams Realty, your Roseville and Sacramento short sale specialist and I’m here to help in any way that I can. Thanks and I look forward to working with you soon.

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