Is a Short Sale Right For You?

If you owe more than your home is worth, you may still be able to sell it on a short sale and get out from under that debt.

Short sales are nothing new. They've been around for years but only in the past 3 years or so has a short sale become popular again. That's because falling prices in many parts of the country has wiped out equity for lots of home owners who bought at the height of the crazy housing boom. I represent a short sale seller in Sacramento who put down $100,000 in cash to buy her $500,000 home, which now she's lucky to sell at $300,000.

But we have 8 offers presently, and expect to get short sale approval. In fact, all 15 of my short sale listings have multiple offers . . . read more about a short sale.

More Articles by Elizabeth Weintraub:

• How to Negotiate Short Sales
  
• Will a Short Sale Ruin Your Credit?
  
• How to Price Your Short Sale

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