by Jon Terry | Feb 15, 2016 | Blog, Buying A Home, Buying in a Recession, Colorado Living, Foreclosure, Luxury Homes, Luxury Mountain Homes, Selling a Home
According to RealtyTrac’s latest market report, the number of foreclosure filings in November was down 8.71 percent from October, and down 20.1 percent from a year ago. There were 544 foreclosures in November and only 284 bank repossessions (1 out of every 2,652...
by Jon Terry | Dec 22, 2013 | Blog, Buying A Home, Selling a Home, Short Sale
Learning real estate lingo is an important part of buying/selling a home. Here are a few common words you may hear if you’re buying or selling a home. 1. Appraisal An appraisal is an assessment done by a certified appraiser justifying the purchase price for a...
by Jon Terry | Sep 30, 2013 | Blog, Foreclosure, Mortgage Guidelines, Short Sale
The Great Recession that started in late 2007 forced many responsible Colorado homeowners into mortgage loan default and/or bankruptcy. Because of this, the Federal Housing Authority (FHA) realized that credit histories don’t always reflect a person’s true ability or...
by Jon Terry | Oct 11, 2011 | Blog, Buying A Home, Buying in a Recession, Credit, Foreclosure, Mortgages, Residential Real Estate, Short Sale
In these difficult economic times, I am commonly asked whether it would be better to have a short sale or a foreclosure on ones credit report. The answer is complicated and has lot of moving parts. A short sale shows up on your credit report as a “derogatory...
by Jon Terry | Aug 22, 2011 | Blog, Buying A Home, Foreclosure, Investors, Mortgages, Residential Real Estate, Selling a Home, Short Sale
As part of our series on Short Sales, we posed some questions to the Linked In community and I thought the questions and answers were worth sharing. As we have discussed, short sales can be a positive solution by helping one avoid foreclosure. Owners facing...
