Two Short Sales Under Contract Today!

206 PARK BROOK CT, STAFFORD, VA 22554

Fantastic brick front end unit, 3 BR, 2.5 bath TH w/garage backing to open common area! Hardwood in foyer & formal dining room overlooking large living room leading to deck. Large eat in kitchen w/loads of cabinet & counter space! Master bedroom has vaulted ceiling, walk in closet, full bath! Spacious rec rm w/cozy gas FP leads to patio and fenced yard. Minutes to schools, shopping, library & I95!

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!

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

Testimony from Reston Short Sale Client!

We love our clients and just love hearing back about their positive experience! Congrats to our Reston client who had a tricky sale that we were able to sell smoothly!

“They were on-the-ball and completely on top of my case at all times.

Is a Short Sale right for me?

So you are looking into the short sale process and you may wonder if this is the right direction for you. Here are a couple questions to ask yourself.

1. Do I owe more on the house than it is worth?
2. Have I had a trial that effects my ability to be able to afford my mortgage?
3. Do I want to avoid a foreclosure?
4. Do I want a clean slate and be able to start fresh with less effects on my credit score?
5. Do I have insufficient equity to be able to sell my home without owing money?

If you answered yes to just one of these questions, you will want to look more into a short sale. Mortgage lenders are increasingly willing to work with borrowers faced with a financial hardship to accept a discounted payoff on a mortgage. If you are faced with a hardship that makes it likely you will be unable to meet your obligation on your mortgage, your lender would prefer to settle the matter with you as opposed to taking the property through foreclosure.

As you consider the option of pursuing a Short Sale, remember your lender is looking to limit any potential loss on your loan. By completing a Short Sale, your lender has arrived at a solution that is, for them, much better than a foreclosure. Bottom line, your lender wants to work with you.

How do I get started on a Short Sale?

It’s easy. If you would like to get prequalified for a Short Sale, or simply ask more questions, you can email me – or you can apply online by clicking here apply online now. If you would prefer to discuss it on the phone, or set an appointment call us Toll Free at 866-433-6474 or call my cell directly at (703) 774-9572. We also have an agent to help our Spanish speaking clients, just call Mimi Tyrie at 703-542-3178.

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 Town House 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!

Prior List Price:  $190,000

New List Price:  $181,000

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 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

How Does Someone Get a Loan Modification?

Communicate:

Call your mortgage servicer and ask to be considered for a “Home Affordable Modification”, or HAMP. The number is on your monthly mortgage bill or coupon book. Honestly and clearly tell them about your situation. They will assess your financial state through phone calls and paperwork to determine whether you qualify for a loan modification.

Document:

Keep copies of all mailings between you and the lender and take detailed notes on who you speak with and what you talked about. Details of your conversations give you documentation down the road if you are faced with foreclosure. Be sure to watch the clock on all of this though, because when you’re applying for a loan modification, you are on the lender’s time table and we’ve seen many homeowners who were still waiting for the loan modification when they received foreclosure paperwork in the mail.

Research your options:

If you’ve been late on your mortgage or you’re at a point where you know you can’t pay on time anymore, call us and we’ll explain all of your options without the waiting! You can email me or you can apply for information online by clicking here apply online now. If you would prefer to discuss it on the phone, or set an appointment call me Toll Free at 866-433-6474 or call my cell directly at (703) 774-9572. We also have an agent to help our Spanish speaking clients, just call Mimi Tyrie at 703-542-3178.

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

What to Expect When Buying a Short Sale Property

Purchasing a Short-Sale Property

When shopping for a home, you may notice that certain listings are labeled as short sales, short pays or pre-foreclosures. All of these terms mean the same thing: the seller is upside-down on his or her mortgage and is attempting to negotiate a deal with the lender in the hope of avoiding foreclosure.

In this type of sale, the bank (lender) agrees to accept less than the amount owed on the mortgage. The transaction benefits the bank by allowing it to avoid repossessing the home in foreclosure, which is expensive and time-consuming, and it benefits the seller by allowing him or her to avoid the negative credit ramifications of foreclosure.

If you’re interested in buying a property that’s listed as a short sale, here’s what you need to know.

How It Works
Unlike in a foreclosure, the bank does not own the property in a short sale. However, because the bank must approve the sale (because it is the lender, not the seller, who will be taking a loss on the property) it will seem like the buyer is purchasing the property from the bank. Short sale transactions, however, can be much more time-consuming and patience-testing than foreclosure transactions.

In some ways, buying a short-sale property is just like a traditional purchase. However, there are a couple of ways in which the purchase agreement you and your agent draw up are different. The contract will specify that the terms are subject to the mortgage lender’s approval. In a normal transaction, the only party who would need to approve the sale is the seller.

The contract should also state that the property is being purchased “as-is”. While it is acceptable to include language in the contract that allows you to back out of the deal if an inspection reveals considerable problems, in general, you should not expect the bank to lower the price to account for repairs if any problems are revealed. The bank is also unlikely to make any repairs, and the seller, being strapped for cash, is probably even less likely to help out. Given the situation, you’ll likely also need to have enough money for closing costs.

A Waiting Game
If you make an offer on a short sale property, be prepared to wait. Banks are notorious for taking as long as several months to respond to short sale offers.

Better Living Conditions

One advantage to both the bank and the seller is that unlike a bank-owned property, a short sale property is less likely to be trashed or ransacked. The owner will still be living in the home and while the property may be suffering from deferred maintenance because of the seller’s financial situation, the seller is not likely to destroy the place when he or she still lives in it. By contrast, homeowners who lose their properties to foreclosure often take out their frustration on the house as a way of getting back at the bank. If the property is damaged, the bank won’t be able to get as much money when it resells the home.

Along the same lines, because short sale properties are still occupied, they won’t have suffered at the hands of unscrupulous people who have chosen to squat in or vandalize the property. Vandalism can be a common problem with foreclosure properties, especially in lower-income neighborhoods.

Don’t assume the property is a great deal just because it is a short sale, though. Do your own comparable market analysis. The bank is facing a losing transaction, so it will want to minimize its losses and sell the property as close to fair market value as possible. If you can buy a similarly priced property directly from the seller, do it. It will be easier than dealing with a short sale. Also, if you make it to escrow, don’t skip a thorough home inspection.

Experience

Make sure your agent is experienced with short sales. Because of the complexity of this type of transaction, you don’t want to work with someone who is unfamiliar with the process. Also, make sure your agent is willing to work with you on a short sale. Some agents won’t want to get involved due to bad past experiences or the poor reputation of short sales.

In addition, try to find out if the listing agent is experienced with short sales. Although the bank is ultimately in control, a listing agent who knows the ropes may be able to facilitate or expedite the transaction.

Haggling Over Prices

Be prepared to raise your offering price. For the seller to increase the odds of the bank going through with the short sale, he or she may try to convince you to up your purchase price. Ultimately, though, the seller has no real authority to approve the selling price. The bank may also counteroffer as it tries to cut its losses.

There is always the chance that the lender might just reject your offer outright, especially if you’ve written a significantly lower priced offer. Or, in the worst case scenario, they might not reply at all.

We have successfully sold over 350 short sales! If you are interested in buying a short sale, we always have some on the market and can help you find one that fits your needs.

Jennifer Young Homes

Keller Williams Realty

(703) 774-9572

Waldorf Maryland Town House Short Sale Just Listed!

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! Call for details or to schedule a showing.

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

What Is the Short Sale Process?

After selling over 350 short sales, I can tell you that the process is very systematic even though the rules change everyday with the lenders we deal with…but that’s why our clients hire us at Jennifer Young Homes!

The steps involved:

1) Seller completes a full short sale package and turns in supporting documentation required by the lender, along with signing a listing agreement.

2) We list the home for sale at market value and secure a buyer ASAP. This can involve price reductions at planned times to get more showings and ultimately a contract. This price plan is discussed and signed ahead of time. It is done in an effort to prove to the lender that we attempted to sell at a higher price and did not get interest.

3) Once we ratify an offer from a buyer, we send in the offer, the full short sale package and a preliminary HUD from a title company for review by the lender. We then work with the lender to get them the additional documentation they ask for and stay in constant contact until we get their response to the short sale request.

The process is basically defined by the lender at this point.

Why we have so much success:

Unlike some other teams, I have a full time short sale Realtor/manager, who works on each file, each day to make updates and check in with lenders. This is a major part of our successful short sale process. No file is left untouched or unmonitored thanks to our team’s constant communication.

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

Call me today if you’d like to know more about this process or have other questions. My cell # is (703) 774-9572 and my email is jennifer@jyhteam.com.

Bowie Town House Short Sale Under Contract in 7 Days!

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.

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

Simple Staging Trick to Help Sell your Home Faster!

When you are ready to put your home on the market, you start getting worked up about how long it will be listed for. You worry about staging and setting the price right.

There are so many tricks of the trade when it comes to setting your home up for success when it is listed.

One trick that is often overlooked and is free and fast is to depersonalize your space!

How to depersonalize in 3 easy steps:

1. Remove all personal photos

You can replace the photos with modern and neutral decor. Sometimes even an empty wall is better than a wall covered in your family portraits.

2. Neutral Paint

You may LOVE your sky painted ceiling complete with clouds and angels, or your barn red kitchen but your home will appeal to a larger range of buyers when it is neutral! Soft blues and greens are safer but even better are the tans, creams and grays that are very popular right now.

3. Remove taste specific decor

Your husband may enjoy collecting rock fossils from around the country, but your potential buyers may get distracted by this collection. Any type of collectables, or specific decor like the 60’s beads you have hanging in the door ways needs to be stored for your move!

These simple steps can really help your home appeal to a much larger range of buyers! They want to see the home not be distracted by the owner’s lifestyle and decor.

If you are looking to sell on the Northern Virginia area, we would love to help you. Give our team a call today!

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

Short Sale Town House in Landover Maryland Just Reduced!

7003 LOMBARD ST, LANDOVER, MD 20785

New List Price- $125,000

Situated in a PRIME location this 2 bedroom townhome is in walking distance from Metro, shopping center & more. Close to FedEx field! Living room, separate dining room, 2 good size bedrooms & full bath. Large unfinished basement, off street parking! Patio and nice level rear yard backing to trees! Perfect for handyman or investor!

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

Tips for Selling Your Short Sale in the Fall!

Many people think fall is a hard time to sell a home. In our Northern Virginia area, fall is actually a great time to sell! Here are some tips to get your home ready for the fall market:

1. De-Leaf!

Make sure you rake, remove leaves from the gutters, cut the grass, and trim the bushes! Curb appeal makes such a difference when selling your home. By keeping the leaves off and the yard and roof, your home will automatically stand out among others in your neighborhood just by looking leaf free!

2. Autumn Decor!

Warm your entrance up with some mums and pumpkins. Put a leafy wreath on your door! Put some red and orange candles or throw pillows around! Adding fall decor can make a house feel homey and welcoming.

3. Warm up!

Make sure the inside of your home is warm and comfortable. Nothing like making a buyer cold to speed up their walk through your home.

4. Lighten it up!

Open up the blinds, turn on all the lights to help a home feel more open, spacious and warm. Dark spaces turn away buyers. So with days getting shorter in the fall, make sure you are bringing in as much light as you can!

5. Scents of Fall!

Your sense of smell is linked to your emotions! The smell of cinnamon or apple pie wafting through your home can help a buyer feel cozy and be able to emotionally picture themselves living there.

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

How to Stage and Show a House with Young Kids

So you are selling your home! Congratulations! And you have young kiddos! Good for you! Except….young kids and staging do not mix well.

Here are some tips that will help you stage while staying sane with young children in the home!

1. Purge and Store

You may have lots of extra toys and kids clothing that your kids do not even use anymore! Get rid of them! Not only does this clear out unneeded “stuff” to help your house look more organized, it will help jump start your packing since it will be less to move!

2. Baskets and Bins!!

So, realistically, you cannot get rid of all the toys. I mean, what are your kids going to do until your home sells?? But buyers do not want to see kids toys when they walk in for a showing. So practically, having extra bins and baskets to toss in the toys that are strewn around before you run out of the house for a showing can really help save you time and help keep your sanity.

3. Friends, Family, Babysitters, Park, Chuck E Cheese

Use any help you can get! When a showing comes up, you may have only 30 minutes to an hour to get ready and out the door. Make sure you have a list of places you can go for an hour or two until your showings are done.

4.Magic Erasers!

Markers on the wall? Smudges on the table? Scuffs on the floor? Make sure to have a stock of magic erasers for those quick fixes! You will not be able to live with kids in a sparkling house, but you can try very hard to maintain the sparkliness!

5. Go TEAM!

If your kids do not have chores, this could be a good time to instill some hard work. You get a call or text that you have a showing in 1 hour…. Johnny knows he needs to clean up all the shoes, Sarah picks up all the toys and Tommy vacuums! Then you parents can worry about the other things you need to touch up quickly. Team effort can make showings much less stressful!

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

Citi Second Trust Short Sale Approval Letter for Maryland Short Sale

7560 Port Tobacco Rd, Welcome, MD 20693

4 bedroom Rambler on 1 1/2 acres, with two full baths, fenced front yard, nice size backyard. Fireplace in living room, separate dining room. Separate entrance to master bedroom from patio. Detached 3 car garage!

This short sale was approved with the first and second trust. The second trust was with Citi Bank and was for a total unpaid balance of $58,304.17. The bank accepted a $6,000 pay off which is only %10 of the original loan!

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

Short Sale Town House Sold in Germantown MD!

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!

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

How to do a Short Sale with Multiple Loans

One of the frequently asked questions when it comes to short sales is “can I still do a short sale when I have more than one loan? And HOW?!”

The simple answer is yes! You can do a short sale with more than one loan. How- by individually negotiating with each bank you have a loan with. This sounds tricky and it is! But we have a lot of experience getting 2 and even 3 banks to accept a short sale for our clients.

Negotiation

Although both banks will lose money on a short sale, most are willing to negotiate because they would rather get something from the short sale process than have to chance it in a foreclosure process. Usually, the first lender will get the majority of the net profit after sale, and the second and sometimes third lender will get much less. Part of the negotiation process comes when we are trying to get all lenders to approve the short sale and waive all deficiency rights.

There is almost always an audible sigh of relief from our short sale clients when they get a buyer 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

Short Sale Market Update and Relocation Assistance!

Hi, it’s Jennifer Young with Jennifer Young Homes and I wanted to take a minute to give you an update on short sales. As you probably know, our team has been negotiating short sales and loan modifications for years now. We’ve helped many families, over 300 actually, do loan modifications and short sales, and avoid foreclosure or sometimes bankruptcy.

Short Sales are still a long, drawn-out, detailed process but we help you through the whole thing. It doesn’t cost you anything to do a short sale with us because the bank pays our fee.

Relocation Assistance

And we had one successful short sale recently where the bank paid our clients $10,000 dollars to relocate. This is called relocation assistance. And while it’s not guaranteed in every case, we are very successful in getting it and we always ask and try to get it. So our clients were able to do a short sale, sell their property for current market value, the bank took the whole loss on the property, and the bank gave my clients a check for $10,000 to cover moving expenses.

Even though it wasn’t an ideal sale because my clients didn’t make a lot of money and their property hadn’t appreciated, they had bought in the height of the market; it was a really great day to celebrate because all deficiency rights were waived, they were able to sell the property they were underwater on with no deficiency rights and no promissory note to the bank, no cash out of pocket and they got $10,000 to relocate.

So if you would like to talk more about short sales and the whole process, give us a call. (703) 774-9572 or virginiashortsalespecialist.com

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

Single Family Short Sale Sold in Welcome Maryland!

7560 PORT TOBACCO RD, WELCOME, MD 20693

Fabulous updated 4 BR, 2 bath home on private 1.54 acre lot w/circular driveway & oversized detached 3 car garage. Gleaming hardwood floors, formal LR w/chair railing, leads to updated kitchen & dining room. Large family rm has cozy brick wood burning FP. MBR suite has french doors to patio & rear treed yard, bath w/jetted tub. Fenced yard, lovely, park like setting, just minutes to LaPlata!

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 Single Family Short Sale Just Listed in District Heights MD!

1309 ASHEVILLE RD, DISTRICT HEIGHTS, MD 20747

Completely renovated from top to bottom 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, 4th BR, BA. This one shines!

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

Town House Short Sale Just Reduced in Germantown MD!

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!

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

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

How to Stage a Short Sale 101

When you are ready to put your home on the market, you start getting worked up about how long it will be listed for. You worry about staging and setting the price right.

There are so many tricks of the trade when it comes to setting your home sale up for success when it is listed.

One trick that is often overlooked and is cheap and fast is to depersonalize your space!

How to depersonalize in 3 easy steps:

1. Remove all personal photos

You can replace the photos with modern and neutral decor. Sometimes even an empty wall is better than a wall covered in your family portraits.

2. Neutral Paint

You may LOVE your sky painted ceiling complete with clouds and angels, or your barn red kitchen but your home will appeal to a larger range of buyers when it is neutral! Soft blues and greens are safer but even better are the tans, creams and grays that are very popular right now.

3. Remove taste specific decor

Your husband may enjoy collecting rock fossils from around the country, but your potential buyers may get distracted by this collection. Any type of collectables, or specific decor like the 60’s beads you have hanging in the door ways needs to be stored for your move!

These simple steps can really help your home appeal to a much larger range of buyers, even as a short sale! They want to see the home not be distracted by the owner’s lifestyle and decor.

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

Acceptable Hardships to Qualify for a Short Sale

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

Four Beautiful Short Sale Homes Just Reduced in Virginia and Maryland!

15766 RYDER CUP DR, HAYMARKET, VA 20169

Gorgeous 5 BR, 4.5 BA home in Gated Golf Course Community on private 1/2 acre lot backing to woods! Soaring ceilings, hardwds throughout, formal LR, DR, study. Moldings, dual staircases, 2 story fam rm w/stone FP. Gourmet kit w/granite, SS appls opens to sunrm leading to huge Trex deck. Luxury MBR suite, 3 full BAs up. Walk out LL has hdwds, game & rec rms, wet bar, BR & full BA! Freshly painted!

Prior List Price: $725,000  NEW List Price: $699,900

41940 BLUE FLAG TER, ALDIE, VA 20105

Gorgeous stone front townhome style condo w/2 car garage loaded w/features. 9′ ceilings, moldings, gleaming hardwds! Light filled LR w/bay window, dining rm w/brkfast bar opens to kitchen w/42″ cabinets, granite. Master Br w/WI closet, lux bath w/separate shower & soaking tub. Large 2nd BR has private bath & WI closet. Excellent location mins to shopping, dining, Rt. 50, Airport. Amenities galore!

Prior List Price:  $289,900   NEW List Price:  $275,000

23332 GARDENWALK DR, ASHBURN, VA 20148

Charming arts & crafts home loaded w/features & design details. Front porch, 9′ ceilings, amazing millwork, open floor plan w/formal LR, DR, study. Butlers pantry. Gourmet kit w/granite, 42″ cabinetry, huge brkfast bar opens to fam rm w/cozy stone FP. MBR w/luxury MBA, WI closets, 2 more BRs, open to loft. Finished LL w/huge rec rm, den/4th BR & full BA leads to fenced yard. Detached 2 car garage

Prior List Price:  $600,000  NEW List Price:  $575,000

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:  $350,000  NEW List Price:  $299,900

If you are interested in any of these beautiful homes for sale, give us a call! Or if you find yourself 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

PNC Maryland Short Sale Approved with Deficiency Rights Waived!

11623 N Star Dr, 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.

Here are PNC Short Sale Approval Letters with all deficiency rights being waived and a cash contribution from our seller was required of $15,000.

1st trust unpaid balance: $544,496.75 and the sales contract was approved for $390,000. Which means the bank is taking over $100,000 loss!

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. These clients received their approval letters too so now they are just awaiting closing! Congrats to our clients!

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

Wells Fargo Short Sale Approved and $10,000 Relocation Assistance

We have another HAFA short sale approved this week and the bank, Wells Fargo in this case, approved the short sale on the first and second trust, waived deficiency rights, asked for no promissory note AND is paying our seller 10K to relocate! Wow! These are typical HAFA approval terms when properly negotiated. Call us today to discuss your situation.

Here are both of the approval letters for your research purposes:

Great Townhouse Short Sale Just Listed in Germantown MD!

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!

Are you considering a short sale in the DC metro area? Not sure if you qualify or want to make sure you are not being scammed? We have successfully sold over 350 short sales! We would love to talk to you about your situation and help you figure out of you qualify and what your next steps are!

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

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

Four Short Sales Under Contract this Week!

It has been a busy week with our short sales that we have on the market! Two of these short sales were already bank approved which is appealing to buyers! Congrats to our clients! You are almost out of the woods! Let’s get it done!

5448 CLAIRE CT, WARRENTON, VA 20187

Under Contract in 2 Months!

Bank Approved Price!!! DC side of Warrenton! Spacious custom built home on lovely .92 ac cul-de-sac lot. Bright open floor plan, 4 large BR & 3 full baths up! 2 story foyer w/hdwds, formal LR, large DR or can be study or playrm! Kit opens to huge fam room w/cozy FP. MBR suite w/bay window, WI closet, luxury, MBA w/sep shower, soaking tub. LL waits for your design! Patio & shed!

17474 DENALI PL, DUMFRIES, VA 22025

Under Contract in 14 Days!!

WOW! Absolutely gorgeous inside! Renovated brick front townhouse with attached garage in great location! 3 finished levels, 9’ceilings, Hardwoods on main & BR level. Light filled living room, open kitchen w/42″ cabinetry, granite, SS appls opens to fam rm leading to rear deck & fenced yard. All baths updated. Renovated MBA w/sep soak tub & glass shower. BR level laundry. LL has rec rm & full BA

1110 LOMBARD ST, BALTIMORE, MD 21223

Under Contract in 3 Months!

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.

12260 STREAMVALE CIR, HERNDON, VA 20170

Approved Short Sale at list price! Quick Turnaround within 45 days or less. Spacious & updated 4 BR colonial with gleaming hardwoods, crown molding, formal LR, DR w/elegant chandelier, renovated kit w/granite opens to large family rm w/cozy FP. 4 good size BRs up. Updated baths. Walk out LL has rec rm w/wet bar, den/5th BR, bath. Easy access to FFX Co Pkwy, Rt. 7, Toll Rd & Silver line Metro!

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

Baltimore Short Sale Just Reduced!

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.

Originally Listed at $46,000

Reduced once to $38,000

Just Reduced to $29,000

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 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

Townhouse Short Sale Just Listed in Montgomery Village MD!

9214 CHADBURN PL, MONTGOMERY VILLAGE, MD 20886

Great end unit townhome surrounded by trees w/3 finished levels & priced to sell! Open floor plan with living and dining opening to kitchen. Upper level 1 has 2 bedrooms & full bath. Private master bedroom with full bath on uppermost level! Loads of closet space. Separate laundry room. Fully fenced with patio for privacy! Dont miss this great opportunity to own a 3 level townhome at condo price!

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

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 Sale in Baltimore Under Contract!

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.

Under Contract in less than 3 months!

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

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