It's an unfortunate fact, but many homes are still selling for a loss in Tallahassee. Despite some opinions that we have hit market bottom, the picture is a bit more uncertain than that. While the number has dropped a bit, more than 30% of all homes sold in Tallahassee are sold for a financial loss. Some homeowners are able to bring money to the closing table to make up the difference in value. But many homeowners are participating in short sales where the lender agrees to allow the sale and take less for the mortgage payoff, instead of foreclosing on the home.
If you know of anyone faced with the potential of selling for a loss, please give me a call - I can explain the options available, and help homeowners make the best financial decision for their particular situation. I'm at 850.445.2476.
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