From Our Blog

Capitalizing in a Down Market

Some good news! While it is a challenging time to sell a home, I’ve never seen as many incredible bargains available. If you are looking to move up, excellent opportunities await the discerning buyer. The math is fairly straightforward, but will require some effort to sell your current home while looking for a deal in pricier neighborhoods. In the luxury market, a quick estimation places the decline at around 40%. Let’s say you purchased your home at the height of the market for $3 million. Currently it might sell for around $1.8 million. But a home that was $7 million at the height of the market could be had for [...] read more

Buying After A Shortsale

Now that credit markets have tightened and formerly well-qualified buyers are being turned away by lenders, people looking to purchase again after short-selling their home are wondering just what it takes to get a loan. “The focus should be on restoration of their credit,” says Dan Hrey, a lender with Bank of America. “A short sale can shave 100 points off of a person’s score and it typically isn’t the only credit issue that we need to work through,” he says, referencing late credit card or auto loan payments that he often sees on a short seller’s credit history. In our luxury market where jumbo loans (those over $417,000) are [...] read more