Real estate sales in Manhattan have been in a serious slump -- for quite a while. Sales fell for the sixth quarter in a row, making that the worst record in the area's history for the last 30 years.
A lot of people end up losing their homes to foreclosure. Sometimes, a job loss or a sudden disability makes it impossible for someone to keep up with the mortgage. Sometimes, a marriage falls apart before there's enough equity in a home to sell it successfully, and neither spouse can afford to handle the mortgage payments alone. Sometimes, the price of real estate in an area just falls through, and borrowers feel compelled to walk away from mortgages that have put them underwater.
What's the best thing to do when you're behind on your mortgage payments and facing foreclosure?
The deed to a piece of property is a fairly simple piece of paper -- but it's very important. It's what's actually used to convey ownership of a piece of property from one person to another.
With any real estate transaction, the goal is for everything to go smoothly. It's encouraged that both sides work with agents and attorneys, so they know that their contracts are legally binding.
Real estate transactions are extremely common in New York City. There are literally millions of people living in the city and surrounding areas, and they all need places to live and work.
In real estate, there is always a separation between the physical and digital media used to sell homes. New companies are emerging to encourage better data exchange and information for all parties involved.
If you're familiar with the company Overstock, then you probably know it as an online retailer that sells furniture and other goods. Interestingly, that's not all it's hoping to be known for. The company is now attempting to get into real estate sales.
If you're interested in buying a short-sale home, then it's very important that you understand how the process works and what it means for your investment. A short sale can be a great investment and give you a good deal. Usually, when you see a property listed for less than is normal in an area, it's likely that it's a short sale.
When moving into an apartment, there are some mistakes you can't afford to make. This real estate transaction might not be for the long term, but it could affect you for some time if you don't do your research.