No Halloween Story I could come up with would be as horrifying as our current housing market. So I’m not even going to try.
Lets leave the ghosts and ghouls and witches to the kids for a moment and lets talk about what really scares us.
Watching the stock market is making me see sick from all the ups and downs.. And the spiraling downfall of the home values rivals any thrill ride at the local fair.
Everybody's Crystal ball seems to be “on the Fritz”
And my 8-ball isn’t working either. So, don’t ask me how much longer it will take before this will all turn around.. I don’t know.. Nobody seems to know.. It’s a conspiracy.. The crystal and 8-ball unions united and went on a 18+ months strike leaving all of us hanging in the air, waiting for answers.
We might not know how much longer it will take for the Housing Market to balance itself out… but we know it eventually will..
It always does..
There are things we can do right now.
First and foremost..
If you don’t absolutely have to move - don’t move !!!
Stay put. Remember the lesson on supply and demand??
We have had too many houses on the market for too long. Once the supply goes down, the prices will stabilize.
Very simple economics rule.
Getting the Bail Out Money Banks and other Lenders were “strongly encouraged to cooperate with Home Owners!!! Now is the time to renegotiate your home loan(s). If you have purchased your home in the last few years and now have your “Adjustable Rate Mortgage” adjust up and up.. Call your Mortgage Company and tell them you want to a lower fixed rate Mortgage, based on the current market value. They might be able to send, e-mail or fax you a series of forms to fill out and submit on which they will base their decisions. Those forms might even be on their website.
If they don’t have a process already in place and forms for you to fill out.. You have to submit a package yourself.
You will most likely need a Hardship letter, an Income and Expense statement.. Information on your home, a Broker Price Opinion and a report on current market conditions in your neighborhood.
We here at AZ State of Mind can help . Just call me at the office 480-985-9770 or on my cell 480-226-3431 or send me an e-mail to RealtorSteffi@cox.net and I gladly sit down with you and look at your situation.
If you love your home and you would like to stay where you’re at.. You have options now.
Lets talk. And if it turns out you’re going to have to move after all, we can help with that too. One of my Network Partners is a HUD approved Counselor. He not only is a great source of information.. He can also help us navigate through a Short Sale, should everything else fail.
You’re not alone, and knowing you have Options will make the Situation less scary.
Now go look for your old Halloween costume and have some fun with the kids.
When you’re ready to talk.. Call me and I will be right over ..
