Short Sales

The poor economy has unfortunately caused short sales in Eagle Mountain to increase. But what is a short sale?

Real Estate is generally listed as a short sale when the owner is having financial stress and owes more on the home than it is worth. A short sale is not always the best option for the owner but generally one of the main concerns is getting the home sold before it is forclosed upon and a short sale is one way of accomplishing that.

For buyers, short sales can be great because the homes are sold below market value price.  They can be bad because the offer has to be approved by a third party which could take some time.

Remember that if you are confronted with short term financial problems, talk with your bank before resorting to something like a short sale. Sometimes they will work with you to temporarily adjust the interest rate or delay payments. See what Eagle Mountain Real Estate is available on the MLS. Both normal listings and short sales in Eagle Mountain can be found there.