What does it mean when you seen pre foreclosures in your neighborhood?

I'm selling my house, should I wait or get our now?  I have had 2 offers with no open house or sign.  I thought this was odd. I think I need more money now that I have seen the market.. Help????

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September 03 2013 - Orlando International Airport
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Answers (4)

Hi Patty,

I would recommend selling ASAP. In our current market properties are selling for very high values because it is a sellers market.  However, this is changing into a neutral market as more homes come on the market and interest rates rise. If you list now and market your home at the correct price, you should receive multiple offers.

 The biggest issue you will face in selling your home will be getting your home appraised at the sales price. You can sell your home for a million dollars  but if it doesn't appraise the buyer cant get a loan. When the home is appraised they look at the other homes that have sold in your neighborhood. If you wait for the pre foreclosure to sell they will most likely sell for a lower price consequently lowering your appraised value making it difficult to get top dollar. 

If you have any questions about the process or what your homes value is, feel free to contact me. 

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November 24 2013
Why would you think it odd in the current market to get offers with nothing but internet marketing?  It's pretty normal these days, especially near the Medical City.

As to what pre-foreclosures mean, they mean some of your neighbors have gotten in financial trouble.
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September 03 2013

Good morning Patty.
As the previous post mentioned, a pre-foreclosure indicates that homeowner may be behind on their mortgage, and has been served with sort of notice of default. With Fl been one of leading states for foreclosure, this unfortunately has become a common thing. This does affect homeowners like yourself who have maintained their mortgage and kept current. If you are thinking about selling, then, yes, doing so before either of these pre-foreclosures becomes foreclosures should allow you to take advantage of having equity at this time.
If you are looking for some valuable information to help with your decision, please feel free and contact me or utilize the link to communicate.

Best of luck with your decision..
Maurince P.
"Because experience Matters!!"

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September 03 2013
Pre-foreclosure mean a property owner who is late with their mortgage and their bank or lender has started the process of foreclosure.  Some time in the future the property would be sold in auction or or sue to foreclosure.

You need more money for you home? Do you know what you home is worth?  You have some options to find out.

1.  You could visit http://realestatevalues.us  to request your free Real Estate Value Report

2.  Get your local real estate agent to provide you a CMA (cost market analysis)

3. You can hire a appraiser.

You think you need more money now? If these Pre-Foreclosures actually get foreclosed upon, they could lower your property values in the future.

Selling before your area losses value may be a good idea, but you need more information.
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September 03 2013
 
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What does it mean when you seen pre foreclosures in your neighborhood?
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