Short Sales for Las Vegas Homes

wallstreetgreek.blogspot.com – Short sale,
a relatively new method to liquidate real estate properties is gaining
popularity. Many owners of Las Vegas
homes have been in financial trouble in the past and the only solution to
their problem was the foreclosure of the lender. This process is not only
expensive but also legally exhausting. This is because the borrowers view the
lenders as villains who are trying to take their property and in turn resort to
any legal means to remain in the home. Ultimately in the end of a foreclosure,
they are forced out.

The reality of the Real Estate
Bubble of 2005 through 2007 places most homeowners who purchased in that
unfortunate time frame “underwater,” or owing the lender more than
the property is worth. Market forces have whipsawed the values of home prices.
At the peak, appreciation soared as high as 50% or more, though more recent
plummeting has led to the shedding of as much as 60% or more value, driving
American ingenuity to employ the real estate short sale.(Quoted from:wallstreetgreek.blogspot.com)

In the attempts of homeowners to protect
their Las Vegas homes from foreclosure,
the property loses even more value causing bigger losses. The lender, who often has never had any contact with the borrower, takes in enormous losses.

The borrower is also devastated by a
foreclosure. There is the unavoidable stress and embarrassment in the process
for the family members.

Although the process for a “Short Sale”
needs to be refined more and standardized, more and more people are
engaging  on it. A home being sold as a
short sale doesn’t harm the neighborhood and is most of the time a win-win
situation for both the buyer and seller.

Read More About Las Vegas Short Sales Here!