Temple Hill Single Family Short Sale Back on the Market!

3510 Everest Drive, Temple Hills, MD 20748

Beautifully renovated 4 bedroom all brick home with w/designer paint, hardwood flooring throughout on lovely lot backing to woods for privacy! Sun filled main level has formal dining room and formal living room with brick wood burning fireplace. Updated open kitchen with has access to side entrance of home. All 3 bedrooms on main level have hardwood flooring and the full bath is completely updated! Fully finished LL has family room with 2nd FP & picture window, 4th BR, renovated full bath, laundry, ample storage space and walks out to patio and rear yard backing to woods. Loads up updates including new HVAC!

Great 4 Bedroom Short Sale Just Reduced in La Plata MD!

10880 Hopewell Place, La Plata, MD 20646

Fabulous 4 bedroom, 2 full bath home on lovely and peaceful 1.25 acres on quiet, private cul-de-sac! Bright open floor plan has gleaming hardwood floors, spacious living room with cozy gas fireplace. Great open dining room & large kitchen with loads of cabinet space & breakfast bar is great for entertaining! Master bedroom has walk in closet and full bath with jetted tub! Ceiling fans throughout! Garage converted into 4th bedroom/bonus room has separate entrance; would be great office as well. Don’t miss out on this fantastic home with one level living at it’s best!

Great Single Family Short Sale Listed in Severn MD!

7701 PECAN LEAF RD, SEVERN, MD 21144

One loan short sale- professionally negotiated & we will get it done! Charming 3 BR, 2.5 bath home on lovely lot in quiet cul-de-sac! Bright open floor plan, hardwoods, fresh paint. Formal living & dining room. Updated kitchen w/custom island opens to deck & spacious family room w/loads of sun from bay window & a cozy stacked stone woodburning FP!

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Great Single Family Short Sale Available in Severn MD!

7701 PECAN LEAF RD, SEVERN, MD 21144

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Parents: 10 Tips to Prepare Young Children for a Move

“Allowing your child to decide what to do with his/her worn toys provides them a feeling of control in a situation that is largely, out of their control.”

#1 – TALK EARLY
Tell your children about the upcoming move as soon as possible.

#2 – PROS & CONS:
Discuss with your children, in an age-appropriate manner, some of the pros and cons of moving.

#3 – LET THEM HELP
Encourage your children†to help you investigate your new community.

#4 – RESIST THE URGE TO PURGE
When packing, resist the urge to throw out all of your children’s old, unused toys.

#5 – PACK LAST
Pack any young children’s belongings last; allowing them prolonged access to their familiar possessions reduces their anxiety.

#6 – VISIT NEW HOME
Take your children†to visit the new home at least once prior moving day, and be sure to keep the visit short, and upbeat.

#7 – MOVING PARTY
Ask your child if he/she would like to have a moving party.

#8 – TIMING
Most kids make new friends at school fairly easily, but if your moving date is scheduled after the end of the school year, your child could be facing a long, lonely summer break.

#9 – EXPLORING DAY
Once the move has taken place, organize a “family exploring day”.

#10 – DECORATING
Involve your children†in deciding how to decorate their new bedrooms.

Spacious and Bright Single Family Short Sale Available in Severn MD!

7701 PECAN LEAF RD, SEVERN, MD 21144

One loan short sale- professionally negotiated&we will get it done! Charming 3 BR, 2.5 bath home on lovely lot in quiet cul-de-sac! Bright open floor plan, hardwoods, fresh paint. Formal living & dining room. Updated kitchen w/custom island opens to deck & spacious family room w/loads of sun from bay window & a cozy stacked stone woodburning FP!

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Single Family Short Sale in Frederick MD Under Contract!

1605 DOGWOOD DR, FREDERICK, MD 21701

This terrific single family home offers loads of space with bright open floor plan, light filled living room opens to kitchen & dining room leading to refinished rear deck, patio, fenced yard & large shed w/electric! Upper level bedrooms w/loads of closet space & updated bath! Walk out LL has family room w/hardwood flooring, cozy FP, built-in bookcases, bedroom, den/4th BR, full bath & bonus room!

There is almost always an audible sigh of relief from our short sale clients when they get a contract on their home. Even though the process still continues because in many cases, we have to go to the bank to negotiate with them to accept that offer. There is still such great relief that there is a light at the end of the tunnel for this frustrating financial situation.

Being underwater on your home can feel like such a burden. If you owe more on your home than it is worth and you live in the Northern Virginia, DC metro area, please give our team a call. We would love to talk you through the process and see if you qualify for a short sale. We have successfully sold over 350 short sales and would love to make yours a success story too!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Great Short Sale Town House Just Listed in Upper Marlboro MD!

9938 ROYAL COMMERCE PL, UPPER MARLBORO, MD 20774

Beautiful brick front TH w/garage in excellent location & just minutes to Metro! Bright open floor plan, hardwood floors throughout, nice neutral decor and fresh paint! Large kitchen w/bay window breakfast nook has pass through to dining rm. Step down living rm leads to deck! MBR suite has vaulted ceilings, WI closet, full bath! Walk out LL has rec rm leading to rear yard. Great commuter location!

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Can you Negotiate the List Price for a Short Sale?

This is a simple question with a multi layered answer.

The quick answer is, yes, you can negotiate the sales price of any home on the market. In the case of a short sale, the first question you should ask the realtor before you make an offer is if the list price is lender approved. A short sale is a sale that the bank is agreeing to take less money then is owed on the house. Since the bank is involved, they have to approve of the sale price before it can go to closing.

Banks can be sticklers with price.

Banks can be sticklers because much of the time they are already losing money. But a bank also wants to avoid foreclosure which is the next step if a short sale cannot be approved. If the listing agent has experience with short sales then your chances are higher of being able to successfully negotiate the price.

Expect time delays.

If it is already an approved short sale, it can speed up the process, especially if you offer the already approved price. But if you offer lower, it may need to go through a few offices in the bank to be approved, which can take 3 months or even longer.

If you love the home but it is priced out of your budget or above market value, it may be worth a try in negotiating the price.

You will want your realtor to submit a report of comparable sales to show what the true value of the home may be in today’s market. You will want the short seller’s paperwork in order so if they do not have all of their requirements handed in to their bank, make sure they do before you even place your offer.

You will also want to remind yourself to be patient as it can be a waiting game to hear back from the bank if they accepted or not. Your realtor and the listing agent may be able to place calls into the bank to keep this short sale on the top of their pile.

Best of luck! If you are looking to buy or sell a short sale in the Northern Virginia area we would love to help you through this difficult process. We have successfully negotiated and closed on over 300 short sales. Let us be on your team to make it work!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Three Great Reasons You Would Buy a Short Sale!

Three Reasons to Buy a Short Sale

Many buyers are concerned when they see a short sale. And there are reasons to be more aware of what buying a short sale involves. But there are some very valid reasons to decide to pursue buying a short sale!!

You Fell in Love with the Home!

This is obviously a good reason to pursue buying a short sale! People have the misconception that short sales are broken and worn down homes that are undesirable and that is why they are being sold as a short sale. But this is false! A home being sold as a short sale could be a very well loved and up kept home! And even if it needs some updates or extra care, it may be the perfect size and location for your family and is worth putting some equity into it!

It is a Good Deal!

Some short sales are priced below market value and you are able to get them for less than they are worth. This is not usually the case because the bank is trying to make back as much as they can and not lose money! But they also do not want a house sitting for months or going into foreclosure. So as long as you have a good realtor who is familiar with short sales and negotiating with the bank, they may be able to help get the best price for the property!

Less Competition!

Being under priced is not the only reason a home could be a good deal. If there are few homes on the market or it is a very competitive market with buyers snatching up homes as soon as they are listed, then a short sale may be a great way for you to go! Many buyers are uneducated about the short sale process and therefore will steer clear of them. Which will mean less interest in an otherwise competitive market!

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Waldorf Maryland Short Sale Just Reduced!

3837 GATEVIEW PL, WALDORF, MD 20602

Lovely & well maintained 3 BR, 2.5 bath home with beautiful treeline view. Inviting living room with bay window, formal dining room with gleaming chandelier. Spacious eat in kitchen with upgraded stainless steel appliances opens to large rear deck & storage shed. Master bedroom has vaulted ceiling, private full bath. Great commuter location, convenient to shopping and dining in great community!

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Questions to Ask the Short Sale Agent When Buying a Short Sale

When you find that short sale you want to buy, now you get nervous about the process. Here are some helpful questions to ask the short sale agent before submitting a contract.

How many short sales have you closed?

You want to find out if the seller’s agent has experience with short sales. What if this is their first rodeo? Short sales can be complicated so you want to make sure the agent has had successful short sale closings in the past and is familiar with the process of short sales.

What Documentation has the Seller submitted?

You will want to make sure the seller actually qualifies for a short sale. No use going through the motions if they do not even have what it takes to get a banks approval. The agent might not disclose all the information like the need for a hardship letter from the sellers but they should be able to tell you that they have submitted all the paperwork to file for a short sale approval letter.

What are your expectations from the buyer?

When entering a contract for a short sale, you may be asked to submit in writing that you will not put an offer on another home. Make sure you know whats expected of you before you write the offer.

What do you know about the lender?

Some short sale agents may have plenty of experience with certain banks. They might be able to tell you the average time it takes for an approval or if that particular bank is easy or hard to work with.

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Beautiful Short Sale Town House Just Listed in Bowie MD!

3011 NEW OAK LN, BOWIE, MD 20716

Beautiful renovated 2 BR, 2.5 BA, 3 level end unit loaded w/upgrades! Hardwds thruout! Two tone paint w/crisp crown molding, recessed lighting! Large living rm, remodeled kitchen w/upgraded cabinets, granite, SS appls, brkfast bar opens to deck! All baths remodeled! LL w/separate entry has rec rm, full bath & kitchen. Mins to Allen Pond, Bowie Town Center, Rt. 50/495 & Metro! Small leak repaired.

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Another Successful Wells Fargo Short Sale Approved and SOLD!

7560 Port Tobacco Rd, Welcome, MD 20693

We received Wells Fargo and Citi approvals for this short sale with all deficiency rights waived.

Wells Fargo 1st trust unpaid balance: $262,390.15

Citi Bank 2nd trust unpaid balance: $58,304.17

Here is the approval letter from Wells Fargo for your research purposes.

The sales contract was for $250,000 and was closed at the contract price. The banks both took a hit but we were able to close both loans with all deficiency rights waived. Our clients were more than ready to move on from this financially stressful situation. Congrats to our clients and hopefully they can breathe easier now. Great job team for closing another short sale successfully!

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Germantown Maryland Short Sale Under Contract

20850 SHAMROCK GLEN CIR #1106, GERMANTOWN, MD 20878

Lovely and well maintained townhome style condo with attached garage in a great location! 3 beds, 2.5 baths, Open floor plan, 9′ ceilings, hardwoods, living rm & dining rm opening to large eat in kitchen w/island, SS appliances leading to rear deck. Vaulted ceilings in bedrooms, large MBR w/full BA, walk in closet. Finished LL has rec rm w/cozy FP leading to patio and fenced yard! Great location!

There is almost always an audible sigh of relief from our short sale clients when they get a contract on their home. Even though the process still continues because in many cases, we have to go to the bank to negotiate with them to accept that offer. There is still such great relief that there is a light at the end of the tunnel for this frustrating financial situation.

Being underwater on your home can feel like such a burden. If you owe more on your home than it is worth and you live in the Northern Virginia, DC metro area, please give our team a call. We would love to talk you through the process and see if you qualify for a short sale. We have successfully sold over 350 short sales and would love to make yours a success story too!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Beautiful Germantown Short Sale Townhouse Under Contract

20850 SHAMROCK GLEN CIR #1106, GERMANTOWN, MD 20878

Lovely and well maintained townhome style condo with attached garage in a great location! 3 beds, 2.5 baths, Open floor plan, 9′ ceilings, hardwoods, living rm & dining rm opening to large eat in kitchen w/island, SS appliances leading to rear deck. Vaulted ceilings in bedrooms, large MBR w/full BA, walk in closet. Finished LL has rec rm w/cozy FP leading to patio and fenced yard! Great location!

There is almost always an audible sigh of relief from our short sale clients when they get a contract on their home. Even though the process still continues because in many cases, we have to go to the bank to negotiate with them to accept that offer. There is still such great relief that there is a light at the end of the tunnel for this frustrating financial situation.

Being underwater on your home can feel like such a burden. If you owe more on your home than it is worth and you live in the Northern Virginia, DC metro area, please give our team a call. We would love to talk you through the process and see if you qualify for a short sale. We have successfully sold over 350 short sales and would love to make yours a success story too!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Three Great Short Sales Under Contract Quickly

42389 GOLDENSEAL SQ, ASHBURN, VA 20148

Under Contract in Only 5 DAYS!

Beautiful 2 BR, 2.5 bath townhouse style condo with garage in walking distance to Brambleton Town Center! Bright open floor plan, hardwoods in foyer & main level. LR w/cozy FP, dining opens to kitchen w/breakfast bar & SS appliances leading to balcony. Full size W & D. Fabulous amenities, pool, clubhouse, Verizon Fios, 24 hr fitness, trails, dog park, walk to Harris Teeter, dining, movies and more

21 CANTERBURY SQ #301, ALEXANDRIA, VA 22304

Under Contract in 41 Days

Beautiful updated 2 bedroom condo overlooking courtyard in fantastic location! Secure building, open floor plan, arched windows, living room, separate dining room open to kichen w/gas cooking. Balcony. Master bedroom with walk in closet. Walk to shopping, dining, library. Mins to Old Town, Metro, Landmark Mall, DC. All utilities included in condo fee! Pool, extra storage and ample parking!

208 SHOE BUCKLE CT, STEPHENS CITY, VA 22655

Under Contract in only 6 DAYS!

Beautiful brick front 4 bedroom, 2.5 bath home w/detached 2 car garage loaded with charm! Two story foyer & overlook, 9′ ceilings, hardwds, formal LR, DR, butlers pantry, great open kitchen w/island, breakfast bar opens to fam rm w/cozy FP and leads to rear porch. MBR has cathedral ceiling, 2 walk in closets, luxury bath w/sep shower, jetted tub! Finished LL has huge rec rm + large storage area!

There is almost always an audible sigh of relief from our short sale clients when they get a contract on their home. Even though the process still continues because in many cases, we have to go to the bank to negotiate with them to accept that offer. There is still such great relief that there is a light at the end of the tunnel for this frustrating financial situation.

Being underwater on your home can feel like such a burden. If you owe more on your home than it is worth and you live in the Northern Virginia, DC metro area, please give our team a call. We would love to talk you through the process and see if you qualify for a short sale. We have successfully sold over 350 short salesand would love to make yours a success story too!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Definition of Deficiency Rights in a Short Sale Explained

What are Deficiency Rights in a Short Sale? 

According to www.thefreedictionary.com the definition of Deficiency judgment is the following:

n. a judgment for an amount not covered by the value of security put up for a loan or installment payments. In most states the party owed money can only get a deficiency judgment if he/she chooses to file a suit for judicial foreclosure instead of just foreclosing on real property.Some states allow a deficiency action after foreclosure on the mortgage or deed of trust. The right to a deficiency judgment is often written into a lease or installment contract on a vehicle. There is a danger that the sale of a repossessed vehicle will be at a wholesale price or to a friend at a sheriff’s sale or auction, leaving the debtor holding the bag for the difference between the sale price and remainder due on the lease or contract.

http://legal-dictionary.thefreedictionary.com/Deficiency+Judgment

A simple explanation of the deficiency rights is the right of the bank/loan party to go after the home owner for the rest of the loan that was unpaid. Many times the deficiency rights can be waived so that the short sale seller does not have to eventually pay back whatever was not paid from the short sale purchase.

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Beautiful Single Family Short Sale Just Listed in MD!

1309 ASHEVILLE RD, DISTRICT HEIGHTS, MD 20747

Completely renovated from top to bottom 3/4 BR, 2 full bath home! Wide plank hardwds, neutral paint throughout, open floor plan, living rm w/picture window opens to dining & remodeled kitchen w/brkfast bar, granite, SS appls, pendent lighting. Renovated baths w/custom tile & inlay. New doors, lighting, fixtures & more. Finished walk up LL has huge rec rm w/built-ins, den/4th, BA. This one shines!

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short saleand if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Germantown Short Sale Town House Just Reduced!

0850 SHAMROCK GLEN CIR #1106, GERMANTOWN, MD 20878

Lovely and well maintained townhome style condo with attached garage in a great location! 3 beds, 2.5 baths, Open floor plan, 9′ ceilings, hardwoods, living rm & dining rm opening to large eat in kitchen w/island, SS appliances leading to rear deck. Vaulted ceilings in bedrooms, large MBR w/full BA, walk in closet. Finished LL has rec rm w/cozy FP leading to patio and fenced yard! Great location!

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Single Family Short Sale in La Plata MD Just Reduced!

11240 SPRING BANK PL, LA PLATA, MD 20646

All brick colonial just waiting for your updates! Large open floor plan, 3.5 acre lot, in-ground pool and more! 2 story family room off bright open kitchen with table space, main level laundry, library/study and formal living room. The 2nd level features 4 bedrooms and 2 full baths, with landing overlooking the 2 story family room. Surrounded by mature trees and plenty of yard, privacy, NO HOA!

Prior List Price:  $375,000

New List Price:  $350,000

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short saleand if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Fort Washington Short Sale Under Contract in 2 Weeks!

11623 STAR DR N, FORT WASHINGTON, MD 20744

You won’t believe this gorgeous home! Shining hardwood floors, formal living/dining rooms, kitchen w/ breakfast area, 2-story family room w/ fireplace, full unfinished basement just waiting for your finishing touch! Large master suite, 3 good sized bedrooms, 2.5 baths. Fenced rear yard with deck and a great corner lot! Located just minutes off of I-95 in the Indian Head Highway Corridor.

Listed for $399,900 and under contract in 14 days!

There is almost always an audible sigh of relief from our short sale clients when they get a contract on their home. Even though the process still continues because in many cases, we have to go to the bank to negotiate with them to accept that offer. There is still such great relief that there is a light at the end of the tunnel for this frustrating financial situation.

Being underwater on your home can feel like such a burden. If you owe more on your home than it is worth and you live in the Northern Virginia, DC metro area, please give our team a call. We would love to talk you through the process and see if you qualify for a short sale. We have successfully sold over 350 short sales and would love to make yours a success story too!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

How Adjustable Rate Mortgages are Affecting Short Sales Today!

Short sale and loan modification phone calls are increasing because of 10 year ARMs adjusting. This is hitting owners now and affecting their ability to pay their mortgages. The banks are telling them to do a short sale or get a loan modification.

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Townhouse Short Sale Under Contract in Germantown MD!

19831 LARENTIA DR, GERMANTOWN, MD 20874

Lovely end unit townhome in a fantastic location! 2 bedrooms, rare corner fireplace. Close to shopping and public transportation. Great fenced yard w/deck, surrounded by trees, perfect for grilling & relaxing! Don’t miss this great opportunity!

There is almost always an audible sigh of relief from our short sale clients when they get a contracton their home. Even though the process still continues because in many cases, we have to go to the bank to negotiate with them to accept that offer. There is still such great relief that there is a light at the end of the tunnel for this frustrating financial situation.

Being underwater on your home can feel like such a burden. If you owe more on your home than it is worth and you live in the Northern Virginia, DC metro area, please give our team a call. We would love to talk you through the process and see if you qualify for a short sale. We have successfully sold over 350 short sales and would love to make yours a success story too!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

What Scares a Buyer about Short Sales?

What is so scary about a short sale? Not much really… But short sales are not as familiar to buyers and so they might have some big questions before they are ready to buy one.

How long will a short sale take?

Despite the name, short sales are not quick. A Short Sale can typically take 3-9 months to complete. Some even take over a year. This may seem too long to wait but the process can be well worth it if it helps you avoid foreclosure.

Why does a short sale take so long?

The reason a short sale takes so long is because you are basically asking the bank to lose money. They have a process, as annoying as it is to wait for, they will be sure to dot all their i’s before they grant a short sale. The process can be even more tedious if there are any issues with the buyer’s funding or offer. Your bank has to approve all aspects of the short sale including the offer, home inspection, buyer, appraisal and more.

Is it worth buying a short sale?

Many buyers are concerned when they see a short sale. And there are reasons to be more aware of what buying a short sale involves. But there are some very valid reasons to decide to pursue buying a short sale!!

–You Fell in Love with the Home!

This is obviously a good reason to pursue buying a short sale! People have the misconception that short sales are broken and worn down homes that are undesirable and that is why they are being sold as a short sale. But this is false! A home being sold as a short sale could be a very well loved and up kept home! And even if it needs some updates or extra care, it may be the perfect size and location for your family and is worth putting some equity into it!

–It is a Good Deal!

Some short sales are priced below market value and you are able to get them for less than they are worth. This is not usually the case because the bank is trying to make back as much as they can and not lose money! But they also do not want a house sitting for months or going into foreclosure. So as long as you have a good realtor who is familiar with short sales and negotiating with the bank, they may be able to help get the best price for the property!

–Less Competition!

Being under priced is not the only reason a home could be a good deal. If there are few homes on the market or it is a very competitive market with buyers snatching up homes as soon as they are listed, then a short sale may be a great way for you to go! Many buyers are uneducated about the short sale process and therefore will steer clear of them. Which will mean less interest in an otherwise competitive market!

How Much Should They Offer on a Short Sale?

What is the perfect offer? You want a deal but you also want the house. If you offer too low, the seller and bank may be offended. If you offer too high, you could have missed out on a discount or lower price with negotiations. With a short sale, your offer is not only going to the seller but also the sellers bank. It could take longer to have your offer reviewed so you really want to be sure you offer the right amount the first time. The bank could still come back with a counteroffer.

Can you Negotiate the List Price for a Short Sale?

This is a simple question with a multi layered answer. The quick answer is, yes, you can negotiate the sales price of any home on the market. In the case of a short sale, the first question you should ask the realtor before you make an offer is if the list price is lender approved. A short sale is a sale that the bank is agreeing to take less money then is owed on the house. Since the bank is involved, they have to approve of the sale price before it can go to closing.

Banks can be sticklers with price because much of the time they are already losing money. But a bank also wants to avoid foreclosure which is the next step if a short sale cannot be approved. If the listing agent has experience with short sales then your chances are higher of being able to successfully negotiate the price.

Expect time delays. If it is already an approved short sale, it can speed up the process, especially if you offer the already approved price. But if you offer lower, it may need to go through a few offices in the bank to be approved, which can take 3 months or even longer.

If you love the home but it is priced out of your budget or above market value, it may be worth a try in negotiating the price. You will want your realtor to submit a report of comparable sales to show what the true value of the home may be in today’s market. You will want the short seller’s paperwork in order so if they do not have all of their requirements handed in to their bank, make sure they do before you even place your offer.

You will also want to remind yourself to be patient as it can be a waiting game to hear back from the bank if they accepted or not. Your realtor and the listing agent may be able to place calls into the bank to keep this short sale on the top of their pile.

Best of luck! If you are looking to buy or sell a short sale in the Northern Virginia area we would love to help you through this difficult process. We have successfully negotiated and closed on over 300 short sales. Let us be on your team to make it work!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Negotiated Apple Federal Credit Union Short Sale Approval Letter!

Apple Federal Credit Union Approval Letter

For the first time in almost 500 short sale deals, we were able to negotiate a lower deficiency amount from Apple Federal Credit Union. They, along with 99% of the other credit unions were retaining all deficiency rights in a short sale and they’ve finally come around. Thanks for coming around, Apple and helping your members out!

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Should a Short Sale be Staged?

Not staging your home can be detrimental to your chances of getting your home sold in a reasonable time frame. This is even more essential in a short sale situation because you want there to be an offer as soon as possible so that the process can be started faster.

The Real Estate Staging association did tests selling identical homes professionally staged vs the same home not staged. Their research showed that the staged homes sold in 45 days compared to a home that was not staged selling on average in 102 days.

Estimations are made that only %10 of home buyers are able to visualize the potential of a home. That means that the other %90 cannot look past the clutter, dirt, imperfections, and taste specific decor.

As a home seller, your number one priority is to make your home desirable so that most of the people walking through during showings can see themselves living there.

According to a 2011 study by Homegain.com, these are the top updates you can do while staging and the return you can get on your investment is well worth it:

• Clean and declutter: 872%
• Lighten & brighten: 572%
• Landscaping (both front and back): 473%
• Paint interior: 250%
• Update kitchen: 237%
• Update bathroom: 172%

Interior

The biggest thing a realtor or professional stager will tell you to do to ready your home for sale is to declutter. As shown, this provides your biggest return and does not cost hardly anything but time for you to accomplish.

Making sure all your light bulbs work is another easy way to help your rooms feel light and bright. This is another cheap and easy way to boost your home’s appearance.

Curb Appeal

Get rid of all those weeds and plant some fresh flowers out front. A buyer decides if they like the home within the first 30 seconds of seeing it. Many will not even get out of the car if the front of the house does not look good. Curb appeal is essential!

It may seem pointless to put more money that you do not have into a home you are short selling. But finding ways to stage on a budget or even decluttering, which does not cost you a thing, can be extremely beneficial to your home selling process.

If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about ashort sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Some Things You May not Know About Buying a Short Sale:

Buying a short sale can be a great option for house hunters. But it is best to go into it with some understanding of what to expect!

Short Sales Usually Take a Few Months to Close

The word Short in Short Sale does NOT mean it will close quickly! Short Sale really means that the sale of the house will fall short of the loan amount. A short sale typically takes between 3-6 months to close. The reason for the delay is the third party of the bank having to approve all the interactions between buyers and sellers.

Short Sales Typically Sell close to Market Value

A big misconception about short sales is that you can get a big discount. This is not always the case. The bank accepting a short sale from the owner is looking to get as much money as they can. If they are going to lose too much money, a foreclosure is their favored option.

But just because you will not get a huge price reduction on a short sale does not mean you cannot find a deal, especially in a seller’s market. When there are more buyers and less inventory, a short sale can be a great option! You will have less competition and usually can get it for a little under market value.

The Success Rate of Your Realtor in Closing Short Sales REALLY Matters

Find out who you are working with. If you are planning to buy a short sale, it is very important to make sure your realtor is in the Know! A realtor that knows how to negotiate with the banks can make a huge difference in your success of the short sale. A short sale is not a guarantee and to be able to work with a realtor that has had many successful short sale transactions will greatly improve your chance of success and even how quickly you can close with a short sale.

The Best Offer Grabs the Banks Attention

Low balling a bank is not the best option. If you found the home you want and you do not want to miss out on it, you need to make sure your offer is attractive to the bank. The bank is not looking at how much you want the house or how ready the sellers are to sell, they are looking at their bottom line- how much money are they gaining or losing in the deal. Make sure to work with your realtor to put the best offer forward. If there is a lot of work that needs to be done or the bank is not considering the local market and value, your realtor can put together the information needed to prove to the bank why your offer is fair.

If you are looking to buy or sell a short sale in Northern Virginia, DC, or Maryland, please give our team a call. We would be honored to work with you and help you through this process. We have successfully closed over 300 short sales and would love if yours was next!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Short Sales May Not be Short but May be Worth the Wait! 

Be willing to wait
Despite the name, short sales are not short. But they can be worth the effort and wait for your to get the house you want! Know that you could wait and don’t be scared off by that! Your realtor can be checking on the process and put pressure on the bank to make a decision. If your realtor is not proactive, get a better one!

If you can prove to the lender that you are the best qualifying buyer, they are more likely to accept your offer. Having an experienced short sale realtor will be your biggest strength! So do your research and ask the hard questions about how may successful short sales has that realtor closed!

If you are looking to buy or sell a short sale in Northern Virginia area, we would love to help make this process easier for you. Our team has successfully sold over 300 short sales. We know are stuff and are proactive in getting the job done for you! Please give us a call today!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Lovely Town House Short Sale Just Listed in Germantown! 

19831 LARENTIA DR, GERMANTOWN, MD 20874

Ca Great fenced yard w/deck, surrounded by trees, perfect for grilling & relaxing! Don’t miss this great opportunity!

If you are looking to buy or sell in the Northern Virginia area, this is a great time! Please give our team a call! We would love to help you find your dream home!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Short Sale Under Contract in Fairfax Virginia!

4412 HELMSFORD LN #203, FAIRFAX, VA 22033

Large 2 bedroom, 2 bath condo in desirable Stonecroft! Large balcony off master bedroom, spacious bedrooms and living room with cozy fireplace, kitchen with breakfast bar. Low condo fees and in a great location within walking distance to shops and easy access to commuter routes! Don’t miss out on this fantastic opportunity!

There is almost always an audible sigh of relief from our short sale clients when they get a contract on their home. Even though the process still continues because in many cases, we have to go to the bank to negotiate with them to accept that offer. There is still such great relief that there is a light at the end of the tunnel for this frustrating financial situation.

Being underwater on your home can feel like such a burden. If you owe more on your home than it is worth and you live in the Northern Virginia, DC metro area, please give our team a call. We would love to talk you through the process and see if you qualify for a short sale. We have successfully sold over 350 short sales and would love to make yours a success story too!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

We Have Had a Busy Week of Negotiating Multiple Offers!

We really love when our clients get multiple offers on their home. Even though it can create more work, it helps our clients be able to pick the best offer for them. This could mean they get more money, less contingencies or even just the right family to take over loving their old home like they have.

If you are looking to sell in the Northern Virginia, DC, or Virginia Beach area, we would love to meet with you to help you get your home listed and sold! We provide a free consultation to talk about the selling process and we walk through your home to give you some suggestions on what should be updated or featured to get your home sold for the best price possible!

Please give us a call to set up a free in home consultation!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Townhome Just Listed in Baltimore with Great Potential!

1110 LOMBARD ST, BALTIMORE, MD 21223

Lots of renovations have been done on this 3 level, 4 BR townhome near downtown, minutes to University of MD, stadiums, Inner Harbor. Walk to Hollins Market and B+O Railroad Museum. Living rm w/hardwood, dining room & updated white kitchen. 2 bedrooms on upper level, 2 bedrooms on top level. Extra rear lot with garage/carriage house. Just needs some TLC.

If you are looking to buy or sell in the Northern Virginia area, this is a great time! Please give our team a call! We would love to help you find your dream home!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Wow the Lender to get Your Offer Accepted on a Short Sale!

Short sales can scare the average buyer away because of the complexities and the unknowns. If you are looking for your dream home and want to open up more possibilities by looking at short sales, here are some tips!

Ways to Wow the Lender

Offer a fair price
The bottom line for a bank is money. They do not want to accept any less than they can possible get for the home. Make sure your offer does not offend them, but be sure your realtor does the research on the market value. Your realtor can submit a report to explain your offer and why you may have offered a low price.

Get an experienced realtor on your side
Many banks have companies to handle their short sales so make sure your realtor has experience in negotiating and understanding the complete process of a short sale.

Submit your offer with no contingencies
By not making your offer contingent on your current home sale, or a new roof, ect, this helps the bank feel less pressure and know that you want the house and are willing to make sacrifices to get it.

Have a substantial down payment
This helps your offer stand out among others and proves your financial capability. Even if there are no other offers on the table, this shows the bank that it is worth going with your offer over waiting for a better one.

Be willing to wait
Despite the name, short sales are not short. But they can be worth the effort and wait for your to get the house you want! Know that you could wait and don’t be scared off by that! Your realtor can be checking on the process and put pressure on the bank to make a decision. If your realtor is not proactive, get a better one!

If you can prove to the lender that you are the best qualifying buyer, they are more likely to accept your offer. Having an experienced short sale realtor will be your biggest strength! So do your research and ask the hard questions about how may successful short sales has that realtor closed!

If you are looking to buy or sell a short sale in Northern Virginia area, we would love to help make this process easier for you. Our team has successfully sold over 300 short sales. We know are stuff and are proactive in getting the job done for you! Please give us a call today!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

How Much Should You Offer on a Short Sale?

What is the perfect offer? You want a deal but you also want the house. If you offer too low, the seller and bank may be offended. If you offer too high, you could have missed out on a discount or lower price with negotiations. With a short sale, your offer is not only going to the seller but also the sellers bank. It could take longer to have your offer reviewed so you really want to be sure you offer the right amount the first time. The bank could still come back with a counteroffer.

Here are some tips to think about before you submit your offer:

1. Look at Comparables

What is the average price per square foot in the neighborhood? What have recent similar nearby homes sold for? Are there repairs needed or recent updates that could affect the purchase price? Your realtor should have researched these aspects and if they haven’t, urge them to or find another realtor. Knowing what similar homes are selling for will give you an idea of the fair market value.

2. What can you afford?

Do not offer more than you can afford and you may want to offer a bit less than you can afford in case they counter back with a higher offer. If you are looking at a home above your price range and hoping they will accept your lower offer so you can afford it, be prepared to walk away.

3. How long has it been on the market?

If this home has been sitting on the market more than 2 months without any offers, than maybe it is priced wrong or there is something that is turning buyers away. You may be able to get the price down if it has been sitting for a while.

4. Make your offer an odd number

This may sound strange but round numbers sound like every other offer out there. Going with an offer of $281,900 or $283,000 instead of $180,000 may actually stand out and make the seller think you have really thought through your numbers.

5. Make an escalation offer

This is a clause you can put in your offer stating you will pay X amount more than another offer up to certain amount. For example, you offer $155,000 but your escalation clause says you will pay $1,000 more than another offer up to $165,000. This helps your offer stand out in a situation of multiple offers but also keeps you from having to pay more than what is needed for a home. If this escalation clause is put into action, the sellers usually must show you the other offer as proof.

We hope these tips help you figure out how to make a better offer on your dream home!

If you are looking to buy or sell in the Northern Virginia area, this is a great time! Please give our team a call! We would love to help you find your dream home!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Great Single Family Short Sale with Addition Just Listed in Maryland!

13916 TOWER RD, BRANDYWINE, MD 20613

One level living at its best! Terrific updated home w/large rear addition on nice level lot backing to mature trees. Hardwood floors throughout! 4/5 Bedrooms, living room, open updated kitchen, large great room with French doors leads to lush rear yard. Updated bath with ceramic tile flooring. Driveway parking. Don’t miss this charming home! List Price:  $149,000

If you are looking to buy or sell in the Northern Virginia area, this is a great time! Please give our team a call! We would love to help you find your dream home!

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

What do Banks Accept as a Hardship to Qualify for a Short Sale?

Each mortgage company may have different definitions of hardships they will except. In the short sale process, the hardship letter is crucial to getting your short sale approved. Your short sale agent can better advise you with tips for your specific lender. The stronger your hardship letter is, the more likely your short sale will be approved. Hardship letters are usually processed by the Loss Mitigation Department.

The following is a list of hardships that are commonly accepted by mortgage companies on behalf of short sale sellers.

–Personal or family illness or injury– sometimes these hardships could even force a relocation which can prove further need for the short sale.

– Job relocation

– Job loss

-Significant loss of income

-Loss of house hold income which could be a result from a divorce or partner split. Divorce can be considered as a hardship in and of itself.

–Change in mortgage payments– most likely coming from an ARM or Adjustable Rate Mortgage.

– An increase in living expenses. This could be convincing, especially if it is an unforeseen increase.

You will never know if your hardship will be accepted by a bank unless you try. The worst that could happen is that they would deny your short sale and you would be in the same situation you are already in. We encourage our clients to submit the paperwork to get the ball rolling. There may be some other options worth looking into as a plan B at the same time as your case is being reviewed by your bank.

If you live in the Northern Virginia area and have questions about the short sale process or if your hardship will qualify, please give our team a call. We would love to help you look into all your options during this difficult time. And we would love to help your family move on to a better situation. 

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572