Zip Realty Adds Short Sales To Search Results
With the rise of short sales by homeowners behind on their mortgages, Zip Realty has added the ability to search for homes that are being offered as short sales.
A short sale is when a home owner is unable to pay on their mortgage and the home that they have can not be sold for the amount due on the loan. Instead of taking the home back as a foreclosure, the bank allows the homeowner to put the home on the market and sell it for less than the mortgage owed. The bank then will accept the lesser amount because it will still cost less than the cost of foreclosing upon the property owner.
The property owner in a short sale will have the difference in the mortgage and the selling amount be reported to the IRS as income but it also keeps a foreclosure from hitting their credit report.
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
Comment by More Merchant on 29 July 2007:
I used Zip Realty and was impressed by their website. Also the check I got back at closing was very nice.
Comment by Moiz on 1 August 2007:
so what deciedes a Shortsale value ? and how can one judge what is a Good Deal …
Comment by John on 7 August 2007:
I was a little curious about the idea behind short sales too. I found some great information at http://www.shortsellhouse.com