Right now, the demand for homes in San Diego is strong, and correctly priced homes are selling quickly.
Because the supply of homes for sale in San Diego is at far lower than normal levels, we’re seeing fifteen or twenty buyers competing for each home priced at market value – and many of those buyers have cash in hand. As a result, San Diego homes are now selling at or above their listed price.
In a balanced market, homes typically sell for 95% to 98% of list price.
If you owe more than your house is worth in today’s market, now is the time to short sell.
Consider these facts:
- If you offer your house as a short sale now, you’ll have good offers to choose from. You’ll spend less time negotiating with a buyer; and when you present your lender with a solid offer from a well-qualified (or cash) buyer, you’ll increase your chances of getting a speedy and positive response.
- Getting this over and done with now will free you to get on with life – and within 2-3 years you’ll be eligible for a new mortgage loan. (If you let the house go into foreclosure, you’ll wait for 5-7 years.)
- The sooner you close this chapter, the sooner your credit profile will recover.
What can we expect in the coming months?
We have no way of knowing. However, prices have continued to rise in San Diego over the past 4 years.
This is a situation that equity sellers should also consider carefully as they weigh their alternatives.
- The current market presents a unique opportunity for move-up sellers. Due to the law of percentages, selling a mid-range home to purchase a high end home means “losing” a little to gain a lot.
If you’d like to learn your home’s value in today’s market, or if you have questions about short sales, please call 619-929-1413 or write email@example.com.
We’ll be glad help…
P.S. Are you SURE you need a short sale?
The San Diego real estate market is changing rapidly, so your home that was underwater last year may no longer be underwater.
To get an estimate of your home’s current value, just CLICK HERE to get an instant estimate.
Then call 619-929-1413 or write firstname.lastname@example.org to request a detailed market analysis.
There just might be good news in your future…
Please note that the information provided on this San Diego short sale page is generic, academic information used for general information purposes and may not be construed as or relied upon as a promise for a specific outcome.
This site provides information about real estate, law, income taxes and credit scores as relates to borrowers in distress, short sales and similar situations. The site is designed to help users safely cope with their own needs. Information is not the same as advice — the application of law or regulations to an individual’s specific circumstances. Although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer, tax adviser or other specialist if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation. The models in photographs accompanying the testimonials on this website are used for illustrative purposes and are not a personal endorsement.