Over the last few months, Pasadena home buyers have been learning about short sales. A short sale simply means that a bank is willing to accept less money than what the owner owes on his or her home because the property can not sell at a price high enough to cover the mortgage and selling expenses fully. In essence, an owner is "upside down" on their property.
Short sales create an opportunity for Pasadena home buyers to get a potential deal on the home of their dreams. Short sales are not the easiest sales to pull together and it takes a real estate agent with experience, excellent negotiating skills, and perseverance to work with the banks. I say banks, because in most cases, there are several banks involved in the transaction since the home sellers usually have more than one loan on their property.
Short sales also take a lot of patience on the buyer's side. They have a tendency to drag on, sometimes for months. But, having said that, we can not ignore the fact that they present potential opportunities.
Here's a list of short sales in Pasadena and surrounding cities for your review. Feel free to call us at 626-629-8439 for more information or to set up an appointment for a free buyers consultation where you can learn all about purchasing a "short sale" home.
Also, feel free to search the multiple listing service at your convenience. This home search service allows you to create your own account where you can create multiple home and condo searches for Pasadena, San Marino and other areas. As new home listings become available, you will be notified via email automatically. This way, you will always have the most current and latest home inventory information.