$150,000 :: 5 Fernwood Dr, Unit G, Leominster MA, 01453

2 beds, 1 full 1 part baths
Home size: 1,013 sq ft
Lot Size: 0 sq ft
Added: 11/18/09, Last Updated: 03/06/10
Property Type: Condo, Condo / Townhouse
MLS Number: 71003068
The price of this listing was last increased on 3/5/2010 by 0%

Very well maintained unit. Newer hot water heater.New replacement windows on 2nd floor.New roof 2009.Nice location in complex. Association allows dogs. Priced to sell. Need some notice to show. Not bank owned or shortsale. Priced to sell quickly for its condition. You can “move right in”.

Listed with Townsend Center Realty

---

Brought to you by . Call me today at (781) 848-9064, or visit my website at www.successrealestate.com!

---

The Massachusetts real estate marketplace is exchanging each week, so make sure to check back with us often for much more Massachusetts home breaking news and home MLS listings.

Here you can learn out more about Massachusetts short sales and foreclosures along with bank-owned places that you can find for a good price.

We can demonstrate you how to discover the best Massachusetts Realtor and agents for both buyer agents and listing agents and real estate companies. This is a great way to win out over the competition and learn how to find the best Massachusetts houses, smarter. :

Click on the link to get more pics about the $150,000 :: 5 Fernwood Dr, Unit G, Leominster MA, 01453.

$295,000 :: 86 Leedham St, Attleboro MA, 02703

4 beds, 2 full 10 part baths
Home size: 1,380 sq ft
Lot Size: 37,424 sq ft
Added: 03/01/10, Last Updated: 03/02/10
Property Type: Residential / Detached, Residential
MLS Number: 71039337

This is a beautiful home. This is a short sale. Subject to sellers lender approval and forgiveness of debt. Everything has been done; except some painting, appliances and carpeting. This home was built in 2003, purchased as a bank owned property….and has been re-gutted and all new interior.

Listed with WEICHERT, REALTORS® – Hunter Properties

---

Brought to you by . Call me today at (781) 848-9064, or visit my website at www.successrealestate.com!

---

The Massachusetts housing marketplace is shifting each week, so make sure to come back to our site weekly for more Massachusetts house tools and household MLS listings.

Here you can discover out more about Massachusetts short sells and reo properties along with bank owned properties that you can find for a low price.

We can demonstrate you how to discover the best Massachusetts Realtor and agents for both buyer agents and listing agents and real estate companies. This is a great way to win out over the competition and learn how to find the top Massachusetts houses, smarter. :

See this link to see more information about the $295,000 :: 86 Leedham St, Attleboro MA, 02703.

$329,900 :: 9505 Ocala St, Silver Spring MD, 20901

6 beds, 2 baths
Home Size: 0 sq ft
Lot Size: 7,122 sq ft
Added: 02/25/10, Last Updated: 02/25/10
Property Type: Residential for Sale, Detached for Sale
MLS Number: MC7263979
Tract: Indian Spring Hills

Great Rambler, large living room and 3 bedrooms upstairs. Basement fully finished with bedrooms and half kitchen, great hardwood floors, property is bank owned, as-is condition. Addendums sent AFTER offer is accepted by seller.

Listed with U.S. 1 Realty Corp

---

.., RE/MAX Metropolitan Realty. Call me today at 301-527-9079, or visit my website at MoCoRealEstate.com!

---

The Maryland realty market is varying each second, so make sure to come back to our site monthly for much more Maryland real property tools and household real estate listings.

Here you can obtain out more about Maryland short sales and foreclosed homes along with bank owned belongings that you can find for a good cost.

We can show you how to find the best Maryland realty and agents for both buyers agents and marketing agents and real estate companies. This is a great way to win out over the competition and learn how to find the top Maryland households, smarter. :

Click on the link to see more information about the $329,900 :: 9505 Ocala St, Silver Spring MD, 20901.

Short Sale Listings and How To Buy Them

Everybody’s wondering what exactly a short sale is. It is definitely a hot topic in real estate these days. Let’s get right into it.

A short sale typically occurs when the homeowner is not able to make their minimum monthly payments. After about three months of not making payments, the banks will typically send out a letter called a notice of default or an NOD which notifies the homeowner of the default in writing right to their doorstep.

At this point time, the homeowner has the option of either catching up on the payments, modifying their loan if that option is available for the bank, selling the home if they can and pay off their loan, selling their home for less than what is currently owed on the property (this is a short sale), or letting the home go to foreclosure.

So again, a short sale occurs usually when the homeowner owes more on the property than what it is actually worth and need to sell property. The events of them doing a short sale instead of letting the home go to foreclosure is that a short sell will not affect their credit as much as the foreclosure will. In a foreclosure, they might not be able to purchase a home for up to 5 to 7 years, and they’re credit may be hit as much as 200 points.

A short sale, could potentially allow the homeowner to purchase a home in 3 to 5 years, and they only hit their credit or FICO score up to around 100 points. This a much better option in most cases. How much a short sale affects one’s credit really depends on how strong the persons credit is to start with. So, there are no set rules.

If you’re looking into purchasing a short sale property, there can be some great benefits and also some big fallbacks. First off, if you haven’t heard yet short sale transactions can be a real pain in the butt for the seller, the buyers agent, the seller’s agent, and the buyer. Depending on the bank and their systems of employees, it could take anywhere from two weeks to seven months to get a response back from the bank on an offer that has been accepted between a buyer and the seller. I don’t know about you, but when you’re looking to purchase a home waiting seven months can throw a kink into plans and really throw off your timing.

Here some the steps of the short sale.
Step one: List the property on the MLS

Step two: Obtain an accepted offer on the property between the buyer and the seller.

Step three: Obtain a preliminary net sheet showing the lender what they will net him a transaction.

Step four: Prepare the short sell package. This includes the accepted offer, a letter of authorization which gives the real estate agent permission to talk to the bank about the loan or loans in question, prepare a hardship letter, gather proof of income and assets, added copies of your most recent bank statements, listing agreement, and also submit a comparative market analysis of property to show the lender what the homes worth.

Step five: Wait

Step six: Wait some more.

Once you have all this data, you can submit be offered to the bank. Keep in mind that some transactions might have two, three, or more banks involved.

So, if you have a lot a time and you’re very patient person, short sale can be a viable option for you if you want to get a good deal on your next purchase, but I would definitely check out the REO or bank owned properties first before making an offer on a short sale listing.

Oh, and by the way that you’re working with an agent who has experience with short sales.

Foreclosure Process Steps

If you are looking to purchase a home anytime soon, it is very important for you to understand the real estate foreclosure market. It is important to know how the foreclosure market works and what the process is. Once you understand the foreclosure flow, you can be one of those buyers that can snag a great deal.

Another point to understand is that just because a home is a foreclosure home does not mean that it is a better deal than a regular home that is active on the market. Foreclosure homes can sometimes be worth less that what the bank is asking or less than it sells for at auction.

Here are the steps to the typical foreclosure:

1. The homeowner stops paying their minimum mortgage payment.

2. Lien holder(s) file a notice of default typically after 90 days

3. Notice of sale date. Lien holder gives notice of when they will auction the property.

4. Foreclosure Auction.

5. If the home does not sale at the auction, it is “bought” back by the bank and now is considered an REO or bank owned property.

6. Bank will typically re-list the property on the MLS with their REO agent in the area.