| |
Newsroom /
Business
/
Real Estate
/
Battiata Real Estate Group - San Diego Short Sale Experts
Battiata Real Estate Group - San Diego Short Sale Experts 
Battiata Real Estate Group, April 2012: The Real Estate Market for the last few years has kept Homeowners, Economists, and Consumers in general holding their collective breaths.
Del Mar,
CA,
United States of America
(prbd.net)
11/04/2012
Battiata Real Estate Group, April 2012: The Real Estate Market for the last few years has kept Homeowners, Economists, and Consumers in general holding their collective breaths. With property values plummeting and unemployment raising it has been a very difficult period for many people states Matt Battiata of the Battiata Real Estate Group. With so many people losing their jobs and consequently their homes in the ripple effect of becoming unemployed more and more people have been searching for solutions to prevent their homes going to Foreclosure. Unfortunately due to the decrease in property values Homeowner's found themselves in the difficult position of not being able to sell their home due to the fact that they owed more than the property was worth and were unable to come out of pocket to cure the deficiency or pay the costs associated when selling a property.
Matt Battiata from the Battiata Real Estate Group went on to say that with the situation deteriorating and more homeowner's becoming upside down with their properties that the Banks had little choice but to bring back the Short Sale process to try and remedy the volume of homes that would be reverting back to the Banks unless something was done to sooner rather than later to try to slow the amount of homes going to Foreclosure. Mr. Battiata also said one thing that has always surprised me in regard to the Bank's attitude regarding Short Sales is that while the Bank rarely lowers the principle on a Loan in a Loan Modification and likely as not that Loan Modification will end up a Short Sale; the Bank will allow a family to be displaced and sell the property at a lower amount owed and pay the costs of the sale, rather than completely change the terms of the loan and reduce the loan to allow the homeowner to stay in the property. He elaborated further that while he could see the potential for fraud in this solution with some homeowner's trying to take advantage of this remedy, he felt that if stringent enough measures were taken, circumventing the possibility these problems could be overcome and the truly compromised homeowner should be helped and allowed to stay in their home. After all we are talking about people with families that are traumatized with being forced to leave their homes and other people being allowed to buy these homes at prices that the Bank refused to make available for the current owner.
Mr. Battiata also went on to say that he understands that that is the purpose of a Loan Modification to try to help the homeowner stay in their home, but Loan Modifications have been difficult to get through in a way that they are truly beneficial to the homeowner, and that is why a significant amount of Loan Modifications still ended up becoming a Short Sale. The Banks have not been realistic enough or understanding enough in their solutions and how much they are willing to cut the amount owed. For example on a property with a $1,200,000 loan they refused a Short Sale of $750,000, but after Foreclosing on the property they sold the property for $800,000, the costs of the Foreclosure process alone reduced that particular sale price by at least $100,000 dollars. Mr. Battiata said that he along with all the associates from the Battiata Real Estate Group felt and empathized with Homeowner's that fined themselves in this situation and they have made it their company policy to go that one step further for people in this very distressing situation. To make matters worse there are some very unscrupulous people out there that are just waiting to take advantage of people in this dilemma. At the Battiata Real Estate Group you can be assured of the utmost integrity and you will be given honest answers to very delicate questions. You will be treated with respect and the kind of professionalism that is needed with the best possible advice from people that are knowledgeable and caring. If you need advice you can call the Battiata Real Estate Group any time for a free consultation, there is no pressure or obligation involved. If you would like to find out more you can call or visit their web site at http://battiata.com
###
About
If you need advice you can call the Battiata Real Estate Group any time for a free consultation, there is no pressure or obligation involved. If you would like to find out more you can call or visit their web site at http://battiata.com
|