2 thoughts on “December 2011 Real Estate Market Conditions

  1. Yes. The rental option is good as long as you are realistic about the length of time you plan to be a landlord. The market is not going to come back in a year. Therefore, if you are prepared to keep the property for at least 5 years, you possibly will see the value return to a manageable level. If you decide to rent, you are sentencing yourself to renting a home in your next location.

    Short sales are very difficult and lengthy. Often there is no satisfactory resolution and the property is foreclosed upon. Even if the property is sold short of the mortgage owed, there is no guarantee that the deficit will be forgiven. This will create a lien on your credit report until it is satisfied.

    You will probably have to rent in your new location if you do a short sale because your credit will be negatively impacted for at least 2 years.

    Weigh out your options and decide what is best from you.

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