Short Sales in Hampton Roads

Lets talk about Short Sales. "Short sale" is a term used to describe a property that has a mortgage balance HIGHER than the market price or sales price.
If you are in this situation and want or need to sell your property, you still can. I know you are thinking that you can't afford to come to the closing table with cash and in some cases hundreds of thousands of dollars to close. So, what are your options.

Short sales take some time and expertise. My goal as an listing agent for you is to keep the bank from foreclosing on your property. It starts with a consultation to determine how much relief you need then determining how we can convince your mortgage company that you are entitle to the relief of the difference of your mortgage and the offer we submit to them. These deals are each unique and require an experienced agent to work through the requirements to get a positive end result.

Are you in this boat? Need to sell? Have to move? Purchased in 2005 with 100% mortgage and now owe more than we can sell your property for in 2010? Call me. I have answers, resources and know how to get these properties sold and help you move on.

A consultation is free. 757-816-7000 Christine Parrish

The OBX of North Carolina

The OBX is a drive to and very popular spot on the east coast. OBX NC, is holding strong on the values during this down economy. Mainly because the income from the rental market helps to pay the mortgage and additional expenses. The rental market is reaching record highs this season which is a help to the investors who own or purchase in this market.

We all know what your return is on your money in the Stock market or bank CD's. Your money is well spent in Real Estate and with the right investment you will build wealth and be able to enjoy the beach.

Call me to discuss options in this market.
Christine Parrish 757-816-7000

Time is running out!

The spring selling season is upon us and opportunities abound to boost the housing market and get it on a positive track. We have the advantages of low interest rates, affordable housing stock and the homebuyer tax credits that expire within just a few weeks. We also have an ever-growing supply of short sale inventory – and the sooner those houses can be sold, the better for all involved.

April 30 is quickly approaching
The homebuyer tax credits have been pivotal in helping move inventory. At this time, it appears that the government will not offer another extension. Any first-time or move-up buyer who is interested in taking advantage of the tax credit must have a binding sales contract by April 30, 2010 – with the home purchase completed by June 30, 2010.

Time is of the essence
Short sales remain significant factors in today’s marketplace, allowing more prospective buyers than ever to become homeowners. Because these transactions are more complex, it is imperative that real estate and lending professionals work efficiently as coordinated teams to help our customers.
We are not hearing that the tax credit will be extended. Hopefully we will have new programs for lending that will keep the purchasing moving.

I am committed to helping you.
Christine Parrish 816-7000

Happy Easter Everyone

Went to the beach in Nags Head to my house. What a beautiful weekend. I played some tennis, ate some sea food, and lay in the sun. Went to a new church. I love the beach. Hope you had a great weekend.

Sellers News

Click on Seller News to hear the story. http://www.msnbc.msn.com/id/21134540/vp/36049790#36049790

There are reforms to help sellers who are in a short sale situation. Listen to the story.

Have a short sale property and don't know what to do? I have answers. Call me to discuss maybe I can help you through to a good ending.
Christine Parrish

757-816-7000

Advantages of investing in Real Estate!

Real estate investing in a general sense involves the purchasing of real estate for profit. With real estate investments, profits are gradually accumulated by renting out properties in what's known as a cash flow method. Or, properties are improved and upgraded, then resold for a capital gain. Real estate investors may also wholesale properties as a way to make profits.

Advantages of Real Estate Investing

There are many entrepreneurs out there who argue that real estate investing is a win-win situation where you simply cannot lose money. Of course, this has to be false because there is no fail-safe way to invest in anything without some risk. Despite the risks, there are plenty of advantages to investing in real estate.

The first major advantage to investing in real estate is that you are purchasing an extremely expensive product. Therefore, each property you sell generates more profit potential.

Next advantage with real estate investing is leverage, or the ability to borrow based on the value of the property. It is much easier to finance real estate than any other investment product. Investing in other assets requires you to have the full purchase payment available to obtain that asset. However, when investing in real estate, you only need to have a fraction of the purchase price available (like a 5%, 10% or 20% down payment per say). As a result, real estate, although extremely expensive, is still easier to buy than say, a piece of industrial equipment of the same value.

Furthermore, local advantages in real estate investments is very rarely discussed, yet it stands to reason that you would know your city, town, and neighborhood better than any real estate investing expert from another part of the country or world. This is an advantage that the beginner real estate investor can capitalize on.

One way a beginner can get started in real estate investing with minimal personal risk is to bird dog. ‘Bird dogging' is when you search for good deals for another, more experienced investor. This way the beginner learns to find, recognize, and understand a good value.

It should also be noted that the bulk of the world's assets are in real estate.

Looking for a property bank or government owned?  First time home buyer? Together your in the hot seat.
You can search foreclosures on my web site at http://www.christineparrish.com/

Anyone for Tennis?

Have tennis experience or are you interested in playing tennis?  Check out our Chesapeake/Suffolk league which play at Western Branch courts in Chesapeake., Behind Chuckee Cheese There is room for beginners up to 4.5 players.  You can go to http://www.wtt.com/ for more information or contact me by phone at 757-816-7000