A new niche in Real Estate

A term which has been heard often lately is “Short Sale”.  This is when a homeowner owes more than what the home’s value in today’s market. A short sale occurs when the net proceeds from the sale of a home are not enough to cover the sellers mortgage and closing costs (property taxes, transfer taxes, agents commission). This problem will be coming up often as some adjustable rate mortgages kick in. Fannie Mae and Freddie Mac can assist some subprime borrowers, having the lenders offer loan modification options. If a homeowner is in this situation they should make sure their dealing with a real estate agent who has some experience in short sales.

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About Patrick Parker Realty

Patrick Parker Realty, an independent boutique brokerage located in the heart of Bradley Beach is your local market leader. We understand the demands of a changing real estate market and avail ourselves of the latest industry information and tools to ensure excellent results. Our Commitment to You Our seasoned Real Estate Agents are committed to providing all of our clients, from first time sellers to veteran real estate investors, quality and friendly service. We walk you through every step of the sale process offering the guidance, feedback, and expertise needed to ensure your complete satisfaction.
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