The psychological toll levied by the housing crisis has been nearly as devastating as the jolt to American pocketbooks, with nearly a third of homeowners considering abandoning their mortgages if the market worsens. Culprits in the collapse include house-flipping media hype, an array of financial sector co-conspirators and an administration that has been quick to bail them out. See the following article from Housing Predictor for more on this.
The percentage of vacant homes in the U.S. rose from 2.6 percent to 2.7 percent in the third quarter of 2009, the U.S. Census Bureau reported Wednesday.
There were 2.09 million vacant properties available for sale, up from 1.99 million, the Census said. This number includes both listed properties and those that banks are holding without listing.
“The market was propped up by the original tax credit and now we are starting to see underlying weakness,” says Patrick Newport, an economist at IHS Global Insight. “The extension of the credit, so far, is not having much of an effect.”
Source: Bloomberg, Kathleen M. Howley (02/02/2010)
A record 19 million U.S. homes stood empty at the end of 2008 and homeownership fell to an eight-year low as banks seized homes faster than they could sell them.
The Short Sale Doctors, Realtors, and Stewardship Properties partner together for successful short sales. See YOU & US.
~ Why Agents LOVE Our Service ~
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Together We Create 6 WINS…
A Win/Win/Win/Win/Win/Win Situation!
1. A WIN for the Seller: Relieve over-leveraged homeowners from the pain of foreclosure and having their credit report badly damaged. They can now start a new chapter in their life.
2. A WIN for the Lender: Our packets go to the lender in perfect order so that they can process and negotiate the short sale in the most streamlined way possible. A successful short sale brings them greater financial return than the alternatives of an auction or REO sale.
3. A WIN for the Realtor: Collect a FULL commission and do what you do best–buying and selling real estate. By using our services you will not get bogged down with the paperwork, calls and interactions with overwhelmed loss mitigation departments. When we buy the house (over half the time), agents can receive even more commission.
4. A WIN for Us: We seek to get paid a loss mitigation fee from the short sale lender. In many cases we end by purchasing the home ourselves and making a larger profit margin from a subsequent sale.
5. A WIN for the new Buyer: Now that the property’s price has been appropriately discounted for the market, it is much easier to attract a new homeowner.
6. A WIN for our City & Country: In a small way we hope to contribute to healing our nation of the debilitating financial crisis brought upon by the increasing foreclosure rate. This will revitalize our economy and lead the world out of a damaging recession.
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SALEM OFFICE(503) 365-7070. . . .EUGENE OFFICE (541) 343-7070 2055 Liberty St. NE, 97303 . . . . . . . 1247 Villard Street, 97403 . . . .
Kind Words We Appreciate…
The Short Sale Doctors & Stewardship Properties’ staff,
Scott and I want to thank you all for the incredible work you did on the short sale of our home.
The months surrounding our looming foreclosure date were filled with a lot of doubt, fear, and anxiety. The moment I spoke with Margo, we were convinced to give Stewardship’s services a shot. It saved our financial future and our sanity. The shortsale process was unbelievably simple for us as homeowners in comparison to the months of struggling to communicate with our mortgage holder.
Jered did a phenomenal job of keeping us updated on the status of the settlement process. Every member of the Stewardship Properties’ team treated us with utmost respect, kindness and empathy through one of the most difficult times in our life. Our time was running out, foreclosure was closing in, and Stewardship Properties rescued us with time to spare.
We are very grateful for all of you, what you stand for, and the work you do.
