San Diego Short Sale Expert – Should you walk or should you stay in your home that is upside down? This is a tough decision to make but delaying the decision to short sell could make your situation worse. Here is how to decide if you should sell the home.

Find out how other sellers have done a San Diego short sale with ease. Request a free consultation by calling 619-663-9268 or email me at Clay@CityFiedRealty.com.

First, call me to provide the current market value of your home for free.

I provide BPO’s (Broker Price Opinions) to lenders all the time. I am experienced at determining value on sproperties and know what the lenders are looking for. After this first step you will know how much more you owe on the property than it is worth.

Here is an example, we recently helped a home seller who had paid around $800,000 for his home. We thought the home was worth about $500,000. His mortgage payment was a little over $4800 a month.

Adding in the property taxes and insurance the total monthly payment was around $5,700 a month. Similar homes were renting for around $2,900 a month.

If you compared rental payments, he was way upside down on his home. We ran the numbers and saw that he was on track to repay $1,792,000 over the life of loan.

Next, let’s look at how much he would save by short selling and renting a similar house for two years. First, he would be saving $2800 a month by renting a similar home. In addition when he bought a similar home for $500,000 then he would repay around $992,000 over 30 years.

$1,792,000 minus $992,000 is $763,000. That means he would save $800,000 in mortgage payments over the next 30 years. I can think of a lot that money could buy in retirement.

In this situation the homeowner is better off short selling the house. The process for short selling has been made easier by government programs and stream-lined processes. It was my suggestion to this client to sell the property while these programs are still in place and buy another property in the near future that is not over valued.

Get a calculator and add up how much money you would be wasting with your current home mortgage and compare it to how much you would pay if you short sold your current home, rented for two years, and bought another home in the very near future.

Owe more on your property than it is worth and want to sell it? I can help you short sale your property and negotiate a full release of the liens and notes. Send me an e-mail at Clay@CityFiedRealty.com. I will contact you for a free consultation.

During the consultation I will explain how short sales work in detail. Call me at (619) 663-9268.

Discover how other sellers successfully completed a short sale and request a free consultation by http://www.SanDiegoShortSale.us

Looking forward to hearing from you, Clay Gosnay.

Phone: (619) 663-9268  Clay@CityFiedRealty.com

View my homes for sale at: http://www.CityFiedRealty.com

Clay Gosnay has lived and worked in San Diego California since 1989.
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