Upside Down House, Don’t Panic Yet

We found this refreshing article which should strike a cord with most Michigan homeowners.

The author is basically saying that even though most people owe more on their home than it is worth in today’s market that is no reason to panic. The best thing to do if you don’t need to sell your home right now is to not sell it. All markets move in a cycles. Eventually, home values will rise so that homeowners are no longer upside down. That is the time to sell.

Unfortunately, this market correction is not going to happen in weeks or months but more likely will take many years. Also unfortunately, many people who are having a hardship today due to a loss of income, divorce, disability or other misfortune, do not have time to wait for the market to correct. They need to act today if they can no longer afford the house payments in order to avoid the damage of a Michigan foreclosure.

That is where our team comes in because we only work in upside down markets! If you have to sell now due to a hardship, we can work with your lender to negotiate a discount on what you owe so the house can sell (a short sale). Give Emily a call today to find out how we can help!

Ann

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