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February 2008

Opening Remarks about Short Sales and Foreclosures.

Posted at 3:16 PM, Feb. 14, 2008

I know that many of you have heard the new Buzz about Short Sales and are wondering what that is or how can it help me stop a foreclosure and the destruction of my credit. We will try to post information here to help you decide if a Short Sale is right for you to do just that, Save Your Credit from being completely destroyed for the next 10 years if you get foreclosed on and the bank takes back the property to be sold on the court house steps.

I will be happy to answer questions about Short Sales here on this blog for both folks in trouble in the market place and for investors who want to buy homes at reduced prices. Let’s face it that is what happens in a Short Sale, the bank takes less money than is owed them by the Seller. But it is not that simple. There is a lot of work in completing a Short Sale and we will address that here in this blog. I will try and write something new here every day or two so keep coming back.

As you will see I am in the real estate business and have been for over 25 years and have also been through two other downturns in the market. Back in the 70’s and 80’s this is not unusual since the economy and real estate values are cyclical? We were very lucky that it took from the 80’s until 2005 for the market to change. We were in an upswing for many years and now we are in an adjustment. The market today is down almost 30% in values in some areas of Hillsborough County Florida. That is my market place in addition to Pinellas and Pasco Counties. I service the tri-county area and have for years. My back ground is in Architectural Design, General Contracting, Land Development and Real Estate. If you want to know more about me go to my web site and click on my resume. http://www.RealEstateTom.com