RISMEDIA, March 29, 2011— Kim Blanton of Crye-Leike Realtors in the Hendersonville, Tenn. area has seen an exceptional increase in listing inventory and sales resulting from Pro Step Marketing’s Short Sale Marketing Plan, Website Design and Social Media strategy.

As a homeowner considering a short sale, it is important you understand the process.  Here is how to avoid common mistakes that agents and homeowners can make with a short sale.

1.  Mistake: Your Property is Priced Incorrectly

This is the most common mistake made with all properties, and the most common reason a property doesn’t sell.

Solution: Your Goodlettsville short sale qualified Realtor will present a detailed listing price strategy with you, allowing you to see exactly where your property should be priced based on its current condition, sales in your area, and most importantly, how much time you have left to sell.

When faced with possbile foreclosure in Goodlettsville, Hendersonville or northern Middle Tennessee, the most important thing to remember is to ACT NOW.  Don't wait until you have missed several payments before making a phone call. 

One of the first phone calls you should make is to your lender to let them know you are facing a hardship.  They will give you some options to avoid the foreclosure.

When faced with foreclosure, look at your options:

• Be proactive about the problem when the first warning signs appear.
• Contact your lender when you become aware that you have a problem.
• Read your mail. Not knowing does not solve the problem it just delays the final result and increases the pain.
• Contact a HUD approved housing counselor.
• Prioritize your spending. Pay the house payment and health insurance first.
• Look for ways to generate cash.
• Don’t get scammed by a private “foreclosure prevention specialist,” instead go to HUD to obtain valid information about foreclosure prevention.
• Contact a qualified REALTOR® to discuss the problem and to get advice

This article was posted in a national real estate publication.

RISMEDIA, January 27, 2009-The national foreclosure moratorium imposed by Fannie Mae and Freddie Mac, major banks such as Citibank and Bank of America, and a host of state governments has created a "breather" for homeowners in default. By working with loan servicers, some homeowners will be able to modify their loan terms and stay in their homes. But many won't.

Not all borrowers will qualify for modified loans. Lenders are keenly aware of this, as well as the fact that foreclosing on a home is an expensive proposition: It can cost a bank $30,000 to $50,000 to foreclose on a home, plus carrying costs that equate to 1.0% to 1.25% of the value of each home per month. There is little enthusiasm for increasing bank-owned (REO) inventory in markets already saturated with foreclosed homes and falling prices.