Foreclosures have been down recently, and the market has been seeing an increase in sales, leading to market values rising in the DC Metro area. Don't be fooled by the good news though, We're about to see a big increase in the volume of foreclosures on the market very soon.
Short Sales are a big slice of the real estate market right now, and a "Hardship Letter" from the seller to their lender explaining why they need to do a short sale is often required. What needs to be included in that letter though, and how important is the letter itself? That's our topic for today!
Forget the rumors, here's the truth about short sales in the current real estate market, what they are, how they work, and what you need to actually deal with a short sale as a buyer or seller in Southern Maryland.