Short sales are becoming more common these days, whether we like it or not. A short sale occurs when the sale of a property will not generate enough proceeds to cover what the seller owes their mortgage lender(s). Offers on short sale properties must be approved by the seller’s lender before they can be officially accepted. And when a short sale property is listed in the Multiple Listing Service, the agent must call out language
One of my favorite houses on Prospect Avenue in West Hartford recently sold. I typically walk by it on a daily basis while walking my dog. Well, in July, it went up for sale. It was bank owned and being sold As Is, originally listed at $769,900, which was about $100 a square foot. Not bad considering that houses on Prospect Avenue typically sell for $150-$225 a square foot. I went to take a look
This past Sunday there were 36 foreclosures advertised in the Hartford Courant. A few months ago there would only be one page of foreclosures advertised. Now we’re up to 3-4 pages of foreclosures every Sunday. This week, one of them was on my block in the West End. The sign went up on the lawn 2 weeks ago. After it was listed in the Courant, I had 3 people call me to ask how they
I’ve mentioned previously that I recently became an investment property owner and believe the market is now ripe for people who have a little extra cash to dive in. There is a new book out that I’ve started reading and it’s excellent. Here’s a supporting book review that I found on Boston.com. Enjoy!
The hubby and I recently became investment property owners in West Hartford. It’s exciting and nerve-wracking at the same time. Kind of like watching your teenager learn to drive, but with your car. It took us about a month to get the place rented after our closing. Here are a few tips you might find useful if you’re thinking about investing: 1. Craigslist is a free and easy way to find potential renters. We used