What is a Short Sale?

A short sale is a sale of real estate where the property sales for less than the balance owed on the property's loan. A short sale must be agreed upon by both the borrower and the lender. This allows them to avoid foreclosure. A short sale, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan. A short sale will affect the credit score, but not as much as a foreclosure would. If you are thinking about short selling your property or purchasing a short sale, feel free to contact us to discuss in depth how this process works. Currently, Phillip handles all our short sales and is very knowledgeable about the process.

Comments

Post a Comment

Popular posts from this blog

Tail of the Dragon

Image
Are you looking for an adventure?  Do you have a motorcycle or sports car?  If so then you may want to consider taking a ride to Deals Gap, better known as the "Tail of the Dragon" or just the "Dragon."  The Dragon is a popular and internationally famous destination for driving enthusiasts. The Dragon in Tennessee offers up to 318 curves over 11-miles. The road earned its name from its curves resembling the tail of a dragon.  The stretch bears the street name Tapoco Road in North Carolina and Calderwood Highway in Tennessee and is signed entirely by U.S. Highway 129.  Since part of the road is also the southwestern border of the Great Smoky Mountains National Park, there is not development along the 11-mile stretch.  The road travels mostly through forested area.  Along the route there are a few scenic overlooks and pull off points. The speed limit on the Dragon was 55 mph prior to 1992; however, in the 1990s and early 2000s, the limit was reduced a number of ti
Read more

Must Eat Frozen Yogurt!

Image
The Derosia Team has come across a TOADALLY amazing frozen yogurt establishment.   sweet Frog  Premium Frozen Yogurt is one of the fastest growing brands of premium, all natural, self-service yogurt restaurants. S weet Frog  is a bright, positive, family-friendly environment where you can create your cup of yogurt exactly how you want it. You pick the combination of flavors, you pick the toppings, you make it your way! Sweet Frog  was founded on the principles of Christianity and the belief in bringing happiness and a positive attitude into the lives of their customers.  At  sweet Frog , F.R.O.G. stands for Fully Rely On God.  Accorrding to their website the following is why the founder Derek Cha opened up the first  sweet Frog . Our founder, Derek Cha, started sweet Frog in 2009 with his wife, Annah Kim. Derek’s goal was to create a business, in the midst of a unfriendly economy, that could thrive and bring hope and  happiness to a very down market. As this would be Der
Read more

Sevier County Residential Statistics

Image
As Real Estate Agents The Derosia Team likes statistics.  In particular, we like to compare the market from year to year.  We would like to share some comparisons for 2006-2011 to show you how the market has changed. We focused on each individual area of Sevier County and the Volume Sold per area.  Here are a couple visual aids to show the change in the Smoky Mountains. Volume of Sales for 2006-2011 This is the same information just a different representation of the data! Volume of Sales for 2006-2011 We also compared the total volume sold for Sevier County as a whole through 2006-2011.   So as the economy suggest the market has dropped since 2006 & 2007.  However on a positive note the market for 2008-2011 has been somewhat consistent in the Smoky Mountains with a slow rise in volume.
Read more