Michael Soares Real Estate Group - Sacramento Residential Real Estate, Natomas Home

Are the bad times behind us?

For the past four quarters I have been telling our neighbors that I see many signs of improvement in the real estate market. The skeptics kept saying "Mike, what about the hidden inventory that banks are holding?" I see is no evidence of a hidden inventory and the moratoriums have long since expired. Actually I think that if you look up and down your street, it looks significantly better than it did 24 months ago -- fewer for sale signs, fewer vacant homes and fewer deferred yards. The pride is returning!

What are the banks doing with problem loans? They're doing short sales and loan modifications whenever possible. Foreclosure is their least desirable and the last option. My team and I have been enjoying great short sale successes with our clients. Our clients have been able to stay in their homes until it is sold and we have been able to negotiate payoffs for significantly less than their current principle loan amount. Additionally, the homes are sold in much better condition and future liability from the bank has been eliminated. With proper tax guidance many of our clients are now enjoying a fresh start.
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Real Estate Areas of Expertise Sacramento West Sacramento Natomas Natomas Park North Natomas Natomas Creek Antelope Heritage Park West Lake

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