July 12th, 2010 10:55 AM by Dave Gubler
7 of the 31 detached homes for sale in Foothill Ranch (as of 7/12/10) are short sales. They range in size from a 1,200 square foot 3 bed/2.5 bath courtyard home in the Brittany tract to a 2,350 square foot 4 bed/2.75 bath + loft home in the Vintage Gallery development. The listing price of these 7 homes ranges from $399,900.00 - $789,900.00. The potential to buy below market value is strong in this group of short sale homes.
If you are thinking about buying a home in Foothill Ranch then a short sale is a great way to get below market price. With the sharp drop in home prices over the last 2 - 3 years many homeowners in Foothill Ranch are 'underwater' (They owe more on the home than it's present market value). Some of these underwater homeowners are in a "have to sell" mode due to hardship (job loss, divorce, underemployment, medical bills, etc.) This does create a great buying opportunity for an astute buyer and affords the seller the dignity and credit advantages of short selling rather than foreclosing.
BUYER BEWARE! (Well, at least be informed and properly represented.)
Short sales are often difficult and lengthy transactions for all parties concerned. You, the buyer, should get a better deal vs. a traditional sale but you will have to be patient and prepared. You absolutely must have a buyer’s agent representing you that is experienced with short sales and can (by interviewing the listing agent properly) advise you appropriately when making an offer on a particular home in Foothill Ranch.
We (Dave Gubler and Brian Doubleday of IML Real Estate) have negotiated with and obtained 100s of resolutions with lenders over the last 3 years. Who better than a successful short sale listing agent/negotiator to advise you and represent you when buying a short sale? We have gone so far as to actively assist short sale listing agents to (even though we represented the buyer) escalate to higher bank authority, refute erroneous lender BPO valuations, eliminate deficiency judgments and much more.
Choose a buyer's agent that has experience listing (and closing!) short sales. We will help you determine which homes you have the best chance of success in purchasing. We will assist the listing agent (if need be) by applying our contacts and strategies in order to expedite a short sale approval.
Be Afraid To Get A Better Deal (by purchasing a short sale).
Make Sure You Are Represented By Competent and Experienced Agents Who Will Be Willing To "Roll Up Their Sleeves" and Do Some Of The Hard Work A Short Sale Requires.Visit our All About Short Sales Page For Useful Information.Dave Gubler / IML Real EstateFoothill Ranch Resident, Foothill Ranch Realtor949.292.2763dgubler@IMLRealEstate.com