Berlinnhrealestateblog.com

Berlin NH: Location! Well maintained two family home located in a residential neighborhood.

Team NER (RE/MAX Northern Edge Realty LLC) — Fri, 05 Mar 2010 09:19:58 -0600

Berlin NH: Location! Well maintained two family home located in a residential neighborhood. This property is situated on a level well landscaped double lot with mountain views and includes a two car garage and garden area. The home features enclosed front and back porches, spacious eat in kitchens, open concept living rooms, 2 bedrooms and full bath with washer/dryer hookups. Full basement as well as full walk up attic for storage. Electrical was recently updated and each apartment has been installed with hard wired smoke detectors. This property would make a great owner occupied residence and a tenant would help with the low expenses. One of the best in town! $74,900! For more information or to set up a viewing please contact Matt Martel from RE/MAX Northern Edge Realty (603) 723-0521

Pricing A Home For Sale: There are many factors.

Team NER (RE/MAX Northern Edge Realty LLC) — Tue, 02 Mar 2010 07:18:24 -0600

What is the difference between market value and appraised value?

The appraised value of a house is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process; fees range from $200 to $300. Market value is what price the house will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker. Either an appraisal or a comparative market analysis is the most accurate way to determine what your home is worth.

What is the difference between list price, sales price and appraised value?

The list price is a seller's advertised price, a figure that usually is only a rough estimate of what the seller wants to get. Sellers can price high, low or close to what they hope to get. To judge whether the list price is a fair one, be sure to consult comparable sales prices in the area. The sales price is the amount of money you as a buyer would pay for a property. The appraisal value is a certified appraiser's estimate of the worth of a property, and is based on comparable sales, the condition of the property and numerous other factors.

How is the price set?

It's very important to price your home according to current market conditions. Because the real estate market is continually changing, and market fluctuations have an effect on property values, it's imperative to select your list price based on the most recent comparable sales in your neighborhood. A so-called comparative market analysis provides the background data upon which to base your list-price decision. When you prepare to sell and are interviewing agents, study each agent's comparable sales report (the data should be no more than three months old). If all agents agree on a price range for your home, go with the consensus. Watch out for an agent whose opinion of value is considerably higher than the others.

For more information contact one of our REALTORS@ today. Berlin NH Office (603) 752-0003. Littleton NH Office (603) 444-3069.

Relay For Life Of Berlin/Gorham NH Join Us!!

Team NER (RE/MAX Northern Edge Realty LLC) — Thu, 25 Feb 2010 18:50:52 -0600

Relay For Life of Berlin/Gorham
Friday, June 18, 6pm - Saturday, June 19, 9am 2010 at Edward Fenn Elementary School, Gorham NH

Our Reason to Relay

Fighting cancer is a team effort. The impact we can make together is much greater than what any of us could do alone.

At the American Cancer Society Relay For Life, our team will camp out overnight and take turns walking around the track to raise money and awareness to help the American Cancer Society save more lives from cancer. By joining or donating to our team, you will be a part of a life-changing event that gives everyone in the community a chance to celebrate the lives of people who have battled cancer, remember loved ones lost, and fight back against a disease that takes too much.

Please make a donation, or join our team and help us create a world where cancer can no longer claim another year of anyone's life.

Join Our Team, Donate To Our Team & Create your Luminaria. Visit our Team Page RE/MAX Northern Edge Realty

Team Page: www.teamner-relayforlife.com

Too Create Your Own Team please Click Here!

RE/MAX CEO Margaret Kelly explains how homeowners can avoid foreclosure.

Team NER (RE/MAX Northern Edge Realty LLC) — Wed, 24 Feb 2010 10:58:54 -0600

RE/MAX CEO Margaret Kelly explains how homeowners can avoid foreclosure with the newly announced government short sale plan. Enjoy this video. For more information on avoiding foreclosures & Short Sales contact a REALTOR@ with RE/MAX Northern Edge Realty today! Berlin NH office (603) 752-0003. Littleton NH office (603) 444-3069.

Considering A Home Purchase?

Team NER (RE/MAX Northern Edge Realty LLC) — Tue, 23 Feb 2010 10:23:19 -0600

Considering a Home Purchase?: While the Internet is a valuable tool for homebuyers, it can't replace the expertise of RE/MAX Associates. Nothing trumps the training available to RE/MAX Associates through RE/MAX University. Buyers should put that RE/MAX knowledge to work for them. RE/MAX Associates lead the industry in short sale and foreclosure qualifications, and know how to work with first-time buyers. For more information on purchasing a home please contact a REALTOR@ with RE/MAX Northern Edge Realty. Berlin NH Office (603) 752-0003. Littleton NH Office (603) 444-3069. Visit RE/MAX Northern Edge Realty Online At TEAMNER.COM

Open Letter To Berlin NH Home-Owners

Team NER (RE/MAX Northern Edge Realty LLC) — Mon, 22 Feb 2010 11:47:21 -0600

Dear Home-Owner,

RE/MAX Northern Edge Realty celebrates their 6^th year anniversary this month! In six short years, thanks to the people of Coos County, NH RE/MAX Northern Edge Realty has become #1 in total sales volume!

Let's talk about Berlin NH Real Estate. Since 2007 RE/MAX Northern Edge Realty has become #1 in total sales volume in Berlin NH and in 2009 out sold the other local real estate agencies by double sometimes triple! WE JUST DON'T LIST HOMES, WE SELL THEM!

Agents with RE/MAX Northern Edge Realty will work with you and devise a plan to get your home sold for full market value in a reasonable amount of time.

Don't list your home with just anyone, list your home with the #1 Sales Team in Berlin NH!

Contact one of our sales agents today (603) 752-0003 or stop by our centrally located Berlin NH office. Ask them about Our Giving Back Campaign or us online at TEAMNER.COM to find out more.

Thank you for your time.

Sincerely,

RE/MAX Northern Edge Realty

Visit us online at www.TEAMNER.COM

Team NER stands for Team Northern Edge Realty

(based on Coos County mls statistics obtained from the Northern New England Real Estate Network for the period 01/01/2007 through 01/01/2010)

Short Sale vs. Foreclosure: Which is the Better Option?

Team NER (RE/MAX Northern Edge Realty LLC) — Fri, 19 Feb 2010 14:04:57 -0600

Short Sale vs. Foreclosure: Which is the Better Option?

Losing your home to foreclosure due to an inability to keep up with your monthly mortgage payments is one of life's most unpleasant experiences. It is also an event that keeps on affecting you long after your home is history by devastating your credit score. Regrettably, most people cannot be 100% sure that they will remain safe from foreclosure because they can't foresee the unexpected. Occurrences such as serious illness, a major accident, divorce or job loss can happen to anyone. So it's a good idea to understand the available alternatives should the worst occur.

Of all available options, foreclosure is the worst

The inevitable result of a foreclosure is the lender taking your house. Not only will you lose your house, but the lender can get a judgment against you for the arrearages you owe plus his costs for the foreclosure action. If that isn't enough, your credit report will be in terminal condition for many years to come, worsening an already bad financial situation and making it very difficult to obtain any other kind of credit. There is no upside to foreclosure. It should be avoided at all costs.

Consider a short sale when foreclosure seems inevitable

A short sale is a popular option for homeowners mired down with financial problems. In this case, you would sell your home for less than what you owe your lender; the biggest problem you will face is getting your lender to agree to a short sale. In many situations, they will not. Experts advise pursuing this option the minute you realize that you are falling behind in your payments and most likely won't be able to catch up. The longer you wait and the greater the amount you are in arrears, the less likely it becomes that your lender will even be willing to discuss a short sale.

short sale has disadvantages too

While a short sale will save you from foreclosure, it will also have a negative effect on your credit score, frequently lowering it by as much as 200 points. This can be overcome more quickly than the black mark of a foreclosure, especially if you manage to retain one or two credit cards and keep them current. Perhaps equally distressing, the Internal Revenue Service frequently deemed the difference between the mortgage balance and the amount realized from the short sale to be taxable as income despite the fact that the debtor never saw a dime of it. There is new federal legislation called the Mortgage Forgiveness Debt Relief Act 0f 2007 that just went into effect on January 1st, 2008. The new act essentially eliminates this problem.

Almost any option is better than foreclosure

Simply stated, do everything you can before foreclosure occurs and do it as quickly as humanly possible. Don't sit back and keep thinking, "What can I do?" Instead, consider that short sale and check with your lender before your options become more limited.

The One Best Tip I Can Give You: Don't Do This Alone

Dear home-owner,

I successfully short sold my house, and the single biggest reason was my real estate agent. Having someone who could work on my behalf was incredible. Facing foreclosure is a scary thing, I know, I was about a month away from losing my home before I got my short sale done.

Don't just get any real estate agent to help you! Matt had lots of short sale experience, and it made all the difference. He knew who to talk to, when to talk to them, and how to handle all the paperwork to get the deal done.

R. Christopher

You Need An Experienced Short Sale Agent!

It's one strike against you if the listing agent has never handled a short sale, but it's even worse if your own agent has no experience in that arena. You need an experienced short sale agent.

An agent with experience in short sales will help to expedite your transaction and protect your interests. You don't want to miss any important detail due to inexperience or find out your transaction is not going to close on time because no one has followed up in a timely manner. I have the experience and I currently have a 100% success rate in working Short Sales in the area. If time is of the essence, contact Matt Martel of REMAX Northern Edge Realty today! (603) 723-0521 or email matthewmartel@remax.net

If you or someone you know is facing foreclosure this is a must read.

Team NER (RE/MAX Northern Edge Realty LLC) — Mon, 15 Feb 2010 10:34:27 -0600

Dear Home Owner, If you or someone you know are facing foreclosure, and have exhausted all other options you may need to sell. If you have little equity in your home it could be discouraging, but don't worry, it is not a problem.. sometimes a short sale is necessary to avoid foreclosure. (A short sale is when the bank accepts less than what is owed on the property ). I have experience and relationships with the banks to help you accomplish the sale to avoid having a foreclosure added to your credit report. If Foreclosure is looming, Hire an Agent with Short Sale Experience. It's one strike against you if the listing agent has never handled a short sale, but it's even worse if your own agent has no experience in that arena. You need an experienced short sale agent. An agent with experience in short sales will help to expedite your transaction and protect your interests. You don't want to miss any important detail due to inexperience or find out your transaction is not going to close on time because no one has followed up in a timely manner. I have the experience and I currently have a 100% success rate in working Short Sales in the area. If time is of the essence, contact me today! (603) 723-0521. I can help you and I’m only a phone call away (603) 723-0521. Contact me for a free & confidential consultation. Live in your home payment free until it sells! Together we can stop the foreclosure process and stop any bank auction. If time is ticking contact me today, you’ll be glad you did. (603) 723-0521. Sincerely, Matthew Martel RE/MAX Northern Edge Realty

Berlin NH, Did You Know?

Team NER (RE/MAX Northern Edge Realty LLC) — Wed, 10 Feb 2010 13:44:22 -0600

Did You Know?

Did you know that only NINE Homes SOLD in Berlin NH in 2009 For $100,000 or more?

Did you know that sales agents with RE/MAX Northern Edge Realty SOLD Eight of those Nine Homes?

Did you know that ninety-three Homes SOLD in Berlin NH in 2009?

Did you know that sales agents with RE/MAX Northern Edge Realty SOLD sixty-nine of those Homes?

Aggressive Marketing & Realistic Pricing

Will get your home SOLD!

If your serious about selling your home, contact a sales agent with RE/MAX Northern Edge Realty & start packing today!

RE/MAX Northern Edge Realty. 232 Glen Avenue Berlin NH 03570 (603) 752-0003.

Visit us online at TEAMNER.COM

(based on Coos County mls statistics obtained from the Northern New England Real Estate Network for the period 01/01/2009 through 01/01/2010)

Who's #1 in total sales $ volume in Coos County?

Team NER (RE/MAX Northern Edge Realty LLC) — Wed, 10 Feb 2010 10:39:30 -0600

Whos' #1 in total sales $ volume in Coos County, NH? Well it all depends on how you look at it. RE/MAX Northern Edge Realty just had it's 6th anniversary in our Berlin NH location. 6 years would be the year 2004 and since 2006 RE/MAX Northern Edge Realty is #1 in total sales $ volume in Coos County, NH.

Thank you Coos County for making us #ONE!

Thank you Berlin-Gorham NH for making us #ONE!

Other Berlin agencies may claim they are #1 but ask them to prove it. They can't. Sure they can go back over the years and claim they are #1 but ask them to show you how they are doing since RE/MAX Northern Edge Realty began marketing property in the area.

To be honest we are tired of going back & forth regarding this matter. Visit our Berlin NH office located on 232 Glen Avenue or contact one of our top producing sales agents to show you the facts, the figures & graphs.

We would be happy to sit down with you and view the data first hand using the same computer program/MLS that the other Berlin agencies pull their information. It's simple and will only take a few minutes. You will be glad you did.

Again get the facts, Visit RE/MAX Northern Edge Realty today! (603) 752-0003.

(based on Coos County mls statistics obtained from the Northern New England Real Estate Network for the period 01/01/2006 through 02/09/2010)

REMAX Northern Edge Realty, we are not your typical real estate agency.

Team NER (RE/MAX Northern Edge Realty LLC) — Thu, 04 Feb 2010 10:44:52 -0600

RE/MAX Agents Giving Back in 2010

Beginning January 1st 2010 Associates at RE/MAX Northern Edge Realty donate a portion of every transaction to either the Children's Miracle Network or Susan G. Komen for the Cure®. As a service to our our clients they have an option to choose where they would like this donation to be awarded.

There's a special relationship between the RE/MAX organization and the Children's Miracle Network that goes far beyond the similarities of our logos. Since RE/MAX became the Children's Miracle Network's exclusive real estate sponsor in 1992, our associates and broker/owners have raised more than $75 million to help this charity treat critically ill children around the world. In fact, CMN-affiliated hospitals treat 17 million children each year for every disease and condition imaginable - including cancer, pediatric AIDS, muscular dystrophy, sickle cell anemia, birth defects, asthma and accidents.

Miracle Home

RE/MAX has always been about more than selling homes. Our offices are run by thousands of professionals who live in and give back to the communities in which they work everyday.

As the exclusive real estate sponsor to the Children's Miracle Network, we have the privilege of assisting an international non-profit organization that serves 170 children's hospitals to help provide life-saving care to children, 24 hours a day, 365 days a year.

In fact, CMN-affiliated hospitals treat 17 million children each year for every disease and condition imaginable - including cancer pediatric AIDS, muscular dystrophy, sickle cell anemia, birth defects, asthma and accidents.

Why list your home with a RE/MAX Sales Associate?

When you list with a RE/MAX Miracle Home Agent, your home will be designated as a "Miracle Home" and your sales associate will make a contribution on behalf of your listing and/or sale to the hospital affiliated with the Children's Miracle Network in your area. 100% of the funds raised in your community will remain in your area to benefit children.

In addition to the RE/MAX Miracle Home Program, sales associates, broker/owners, managers and staff all raise funds throughout the year with a variety of special events such as golf tournaments, silent auctions and raffles.

You can help by listing your home with a RE/MAX Miracle Home Agent. Together we can make miracles happen for children in your neighborhood.

Susan G. Komen - Sold for the Cure

The Sold for the Cure^TM self administered program allows RE/MAX offices and Associates to support Komen for the Cure and its vision of a world without breast cancer. RE/MAX Offices and Associates can designate homes as Sold for the Cure^TM properties and make contributions to Susan G. Komen for the Cure with each closed transaction.

Client Recognition and Thank You Programs

RE/MAX Offices and Associates can make a donation in honor of each buyer and seller. A personalized card will be sent to the customer to thank them for choosing RE/MAX.

General Donation

RE/MAX Offices and Associates can make a general donation to support Susan G. Komen for the Cure.

Race for the Cure®

With its "RE/MAX Racing for Life®" slogan, RE/MAX is proud to be a co-sponsor of the National Series Breast Cancer Survivor Recognition Program at Komen Race for the Cure events.

With its "RE/MAX Racing for Life®" slogan, RE/MAX is proud to be a co-sponsor of the National Series Breast Cancer Survivor Recognition Program at Komen Race for the Cure events.

Together with its affiliate network, corporate partners and various donors, Susan G. Komen for the Cure has invested more than $630 million in research, education, screening and treatment since 1982. The foundation is best known for its Race for the Cure events, the world's largest series of 5K runs and fitness walks. Komen estimates that more than 1 million people participated in its 2006 races.

Komen's Survivor Recognition Program celebrates breast cancer survivors and honors those who have lost their battles with the disease. RE/MAX shares sponsorship with Zeta Tau Alpha Fraternity, a nonprofit volunteer organization.

RE/MAX contributes pink survivor T-shirts and caps, as well as "In celebration of" and "In memory of" back signs and program banners for every race. RE/MAX Associates who are breast cancer survivors or who otherwise have been affected by the disease are encouraged to solicit pledges for their own participation. Corporate representatives host breast cancer survivor recognition tents at the more than 100 events in the United States.

The Facts About Breast Cancer

More than 2 million women living in the United States have been diagnosed with and treated for breast cancer.
This year, an estimated 213,000 women and 1,720 men will be diagnosed with invasive breast cancer.
About 41,000 women and 470 men will die of breast cancer this year.
Breast cancer is the leading cancer among American women and is second only to lung cancer in cancer deaths.
When breast cancer is confined to the breast, the five-year survival rate is more than 95 percent

Associates with RE/MAX Northern Edge Realty have recently join The Relay For Life and the fight against cancer. Visit our team page at TEAMNER-RELAYFORLIFE.COM

For more information visit our website TEAMNER.COM or contact our Berlin NH office at (603) 752-0003

New Hampshire's Governor's grant to assist in preparing and educating the local community about the job and business opportunities that will come with the activation of FCI Berlin!

Team NER (RE/MAX Northern Edge Realty LLC) — Wed, 27 Jan 2010 11:31:04 -0600

Governor announces partnerships with WMCC

by Erik Eisele January 27, 2010
CONCORD - Governor Lynch announced two new initiatives to help stimulate the North Country economy in his state of the state address on Thursday.

"Even before the onset of this recession the North Country's economy lagged behind the rest of the state," he said. "That is why we are launching two new efforts to help North Country citizens build their own businesses and to connect North Country workers with jobs."

Both initiatives are partnerships between the state and White Mountains Community College. One will focus on people looking to start new businesses, and the other will focus on training people to work at the federal prison.

"The college will work with entrepreneurs to develop business plans, to help them develop marketing plans, and to connect them with financing and other resources," Gov. Lynch said of the first proposal. "This initiative will provide aspiring entrepreneurs in the North Country the technical support they need to build their own businesses and to create jobs for their neighbors."

The initiative, called the North Country New Business Launch Pad, will be modeled after a successful program from the Monadnock Region, WMCC President Kathy Eneguess said it an email to WMCC staff. "It will provide training and support to aspiring business owners in Coos, Northern Grafton and Northern Carroll Counties."

It will focus on the new opportunities coming to the region, such as the federal prison and sustainable energy. WMCC will work in concert with North Country Investment Corporation, Androscoggin Valley Economic Recovery Corporation, Coös Economic Development Corporation, MicroCredit New Hampshire, the Women's Rural Entrepreneurial Network, the Small Business Development Center, and local banks. WMCC will organize the program, but individuals will have access the resources of all of the partners.

"WMCC envisions the program will provide technical assistance to develop a business plan and financing, access to faculty, high speed Internet, and the college resource library," she said.

She called it a "non-traditional education approach."

The second effort will prepare workers for the scheduled opening of the federal prison in the fall.

"In September 2010, a new federal prison will open in Berlin, employing an estimated 300 people," the Governor said in his address. "North Country businesses and workers deserve to reap the economic benefits of this new facility. Let's make sure that these new jobs go to North Country workers."

"We will partner with White Mountain Community College," he said, "to train individuals who want to work at the prison and to provide technical assistance to companies that have goods and services to sell to the prison."

This initiative, President Eneguess said, is called the New Hampshire Talent Team Proposal. It will, "prepare local citizens for employment on federal projects," she said, "while also assisting incumbent and new businesses with the tools needed to become approved vendors for the provision of services and sales to State and Federal agencies."

It is based on a West Virginia model, she said. It will enlist a number of regional and statewide agencies as well, she said, including NH Works Centers, the Department of Resources and Economic Development, the City of Berlin, the Bureau of Prisons, Northern Human Services, AVER, NCIC, CEDC and the New Hampshire School to Work program.

"This is another way to keep WMCC on the move," President Eneguess said, while growing the region's economies.

RE/MAX of New England and Shop & Stop Team Up!

Team NER (RE/MAX Northern Edge Realty LLC) — Tue, 26 Jan 2010 10:20:33 -0600

RE/MAX of New England and Stop & Shop

Align to Offer Real Estate Services in-store

New England's largest real estate company teams up with

New England's leading food retailer

Natick, MA- January 18, 2010 - RE/MAX of New England today announced that it has entered into an exclusive, five-year agreement with The Stop & Shop Supermarket Company of Quincy, MA, to develop micro real estate offices in supermarkets located in Massachusetts, Connecticut, Rhode Island, and New Hampshire. This marks the first time that a major real estate brand has teamed up with a large consumer retailer to house real estate offices in their retail spaces.

"We are thrilled to partner with Stop & Shop, the leader in the supermarket segment," said Jay Hummer, Executive Vice President of RE/MAX of New England. "RE/MAX is one of the most recognized real estate brands around the world and we continue to seek opportunities that allow consumers to shop their way. Consumers are looking for a one stop shopping experience. We believe this addresses this need and provides them with expert, full-time, proven real estate professionals.

This year up to 17 micro RE/MAX offices will open in Stop & Shop stores in RI, MA and CT. The micro offices have been designed to provide a consistent look and feel for each location, thereby creating the opportunity for strong brand recognition and presence throughout the Stop & Shop chain.

"The true upside of these RE/MAX franchises is that a broker will have a smaller and more economical office, at a lower initial investment, and the consumer will have the one stop shopping experience they are looking for," said Hummer. "Even more exciting for the small business owner is that these turnkey operations are offered at a lower cost, are in high traffic areas of the store and provide a face to face opportunity with the consumer. We believe many teams are going to jump on this opportunity to grow their business."

A full list of the 17 site locations committed for franchise opportunities for 2010 is available upon request. Additional information on franchise costs and agreements is also available upon request.

About RE/MAX of New England

Since its inception in 1985, RE/MAX of New England has grown to over 250 offices with more than 3,000 sales associates throughout Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, providing residential and commercial real estate. The RE/MAX website is www.remax.com. RE/MAX is proud to help raise millions of dollars and support charitable organizations like, Susan G. Komen For the Cure and Children's Miracle Network.

About The Stop & Shop Supermarket Company

The Stop & Shop Supermarket Company employs more than 59,000 associates and operates stores throughout Massachusetts, Connecticut, Rhode Island, New Hampshire, New York, and New Jersey. The company is a member of the US Green Building Council and has been awarded LEED (EB) certifications for 50 of its existing stores. Stop & Shop has been recognized by the EPA for the superior energy management of its stores and is also a member of the EPA's Smart Way program.

The FCI Berlin facility construction is scheduled for completion Fall 2010.

Team NER (RE/MAX Northern Edge Realty LLC) — Mon, 25 Jan 2010 15:16:44 -0600

The FCI Berlin facility construction is scheduled for completion Fall 2010.

Berlin NH will play host to Job and Business Seminars in April/May 2010.

Click Here to view a a fact sheet on the Bureau of Prisons fact sheet for FCI Berlin NH

For more information on Berlin NH and the surrounding community's please don't hesitate to contact RE/MAX Northern Edge Realty (603) 752-0003.

Click Here to view our website: TEAMNER.COM

Short Sale Myths

Team NER (RE/MAX Northern Edge Realty LLC) — Fri, 22 Jan 2010 14:54:41 -0600

Short Sale Myths

A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs.

Myth #1 - The Bank Would Rather Foreclose than Bother with a Short Sale

This is one of the most common misconceptions. The reality is that banks do not want to foreclose on your property because the foreclosure process is incredibly costly. Banks, investors, and even the federal government have all publicly stated that if a person is qualified for a short sale, the deal needs to be considered. Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.

The qualifications for a short sale include:

Financial Hardship - There is a situation causing you to have trouble affording your mortgage.
Monthly Income Shortfall - "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
Insolvency - The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

Myth #2 - You Must Be Behind on Your Mortgage to Negotiate a Short Sale

While this may have previously been the case, today lenders are looking for verifiable hardship, monthly cash flow shortfall, or pending shortfall and insolvency.

If you meet these three requirements and believe that you soon may be unable to afford your mortgage, act immediately. Any delay could limit your options. Do not wait until the countdown clock to foreclosure has started and you have even less time left.

Myth #3 - There is Not Enough Time to Negotiate a Short Sale Before My Foreclosure

This is a myth that probably hurts homeowners the most. Many do not realize that foreclosure is a process, and that there is time to make decisions that may result in better outcomes.

The foreclosing party-in most cases a lender-can stall a foreclosure up to the final day of the process. Today, many lenders will stall a foreclosure with as little as a phone call from you explaining that you are trying to sell, and almost all lenders will stall a foreclosure with a legitimate contract. For real estate professionals who understand foreclosures and short sales, there is time available until the foreclosure process is complete.

Myth #4 - Listing My Home as a Short Sale is an Embarrassment

It is understandable to have reservations about letting the world know that you owe more on your home than it is worth. However, according to recent estimates, more than one out of eight homeowners in the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you toward a solution.

With recent estimates showing 40-60% of U.S. sales will be short sales or foreclosures, you are not alone.

Myth #5 - Short Sales are Impossible and Never Get Approved

This is a complete falsehood. Are short sales more difficult to execute? Yes. Do you, as a homeowner, need to learn about a new process? Yes. Are they impossible? Absolutely not.

For example, agents with the Certified Distressed Property Expert® (CDPE) Designation receive thousands of short sale approvals on a monthly basis. These professionals have undergone extensive training in methods to help homeowners in distress and process short sales. While there are no guarantees in any transaction, more and more short sales are being approved regularly. This is far from an impossible process.

Myth #6 - Banks are Waiting on a Bailout and Not Accepting Short Sales

You may have heard this, but the reality is that banks (and the U.S. government) are trying to do anything they can, within reason, to avoid foreclosing on properties. It is preposterous to believe they would deny a short sale in hopes that some future legislation would pass and pay them for losses.

Today, more banks are aggressively pursuing short sales and working with agents who understand how to process them. Freddie Mac recently hosted a national training Webinar for real estate agents where they expressly stated the organizational goal of "eliminating distressed assets through modification or short sale."

Myth #7 - Buyers are Not Interested in Short Sale Properties

This is a myth that potential sellers hear all the time. Thankfully, this is just not true. In fact, many agents are getting calls from buyers who say they only want to look at foreclosure and short sales.

For buyers, short sales and foreclosures have become synonymous with "good deals." More specifically, international buyers are targeting these properties. Listing with an experienced agent who is educated in the short sale process will provide you with a great chance of quickly seeing a contract on your property.