Picture
Many bankers have fancy degrees earned studying for 4-6 years on how to make smart financial decisions. They have studied economics, finance, and other sophisticated financial subjects.

They understand amortization, arbitrage, and other financial subjects that only smart financial people understand. So, bankers always make smart financial decisions, right? Actually, in some cases they do not make smart financial decisions. I'll give you an example today.

We have seen many examples of where banks foreclosed on a house and then waited 6-12 months to put the home on the market. Say what you want, but waiting 12 months to sell a home is a poor financial decision. When the housing market was declining by 10-15 percent annually in many areas, that meant they lost $20,000 to $50,000. They could have sold that home for more money and avoided wasting money on property taxes and homeowner's insurance. Besides, they could have loaned that money to someone else and earned 12 months worth of interest. Besides, vacant houses are targets for vandalism. A lot can happen to a house that sits empty for 12 months. Mold, water damage, and other problems pop up all the time.




Leave a Reply.

    East Lion Realty & Mortgage

    We're a big-town company that handles realty in all of Southern California. Haven't heard of us? Come to our website to learn more then!

    About the Team

    Here at East Lion Realty & Mortgage, we take care of you and want to learn more about you. In order to do that, you need to learn more about us as individuals. Go here to view our profiles.

    Thinking about a Short Sale?

    Ashish can help you short sale your property and get back on your feet. Send him an e-mail at Ashish@EastLionInc.com. He will contact you for a free consultation and explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call him directly at (818) 259-3455.

    Discover how other sellers successfully completed a short sale and request a free consultation by going to our Facebook page.

    Categories

    All
    Advice
    Curb Appeal
    Finding Agents
    Hardship Letter
    Home Value
    Housewarming
    Load Modification
    Short Sale
    Tiny Homes