Real Estate News About Woodbridge, Mount Vernon, and Lorton Virginia

Stupid Home Seller In Woodbridge VA

Stupid Home Seller In Woodbridge VA

Woodbridge VA Home Values Are Slowly And Steadily Rising

Find Out What Homes Are Selling For In Your Neighborhood 

I met a man the other day who noticed my polo shirt with "Erick Sells Homes" embroidered on the left side of my shirt.

The man said he had just sold his house at a loss because the house is "under water", meaning he owes more than its worth.

So he sold the house, got NO procedes, and he's saddled with a monthly bill to pay-off the difference between the sale price and the sales price, less closing costs.

I asked "To where are you moving?".

He replied, "To a rental house just down the street that has the same floor plan as the house we just sold".

Now I am intrigued.

I asked, "How much is the rent compared to your mortgage payment?".

He replied, "$200 more per month than our mortgage".

WHAT???stupid seller

"Why would you sell your house, then move to a rental that has a higher monthly payment than the house you owned?"

He replied, "We felt the bank was taking advantage of us, collecting a monthly mortgage payment that is higher than the house is worth".

I was stunned!

"Say that again", I said.

"We were paying a mortgage payment on a loan that was tens of throusands of dollars higher than the house was worth.  We felt foolish paying a mortgage payment that is higher than the value of the house".

Yes, He really said that.

I replied, "You DO know the values for houses is rising, and the value of your house would have bounced back.  In a couple of years you would have had equity in your house".

"Yeah, I know.  We just couldn't justify paying a payment on a loan that was $30,000 higher than the value of our house".

short sale in Woodbridge VA

"But what about when the market bounces back?  You've given up your biggest tax deduction by trading your house payment for a rent payment, AND your rent is $200 per month more than your mortgage payment".

"We just couldn't take the stress", was his reply.

If you THINK your house is under water, for goodness sake don't bail out if you have time on your side.

You can find out what your house is worth in today's market by texting me or calling me at 703-677-1120 with your street address; Please indlude your email address so I can send a report to you showing how much your home would sell for in today's market.

If you're in the market to buy a house, and you're interested in short sales, text or call me at 703-677-1120.

If you prefer sending an email to me, you can use the email on my website.

If you are thinking about selling your house as a short sale, text, call, or email me BEFORE you put your house on the market for OPTIONS that could save you THOUSANDS OF DOLLARS.

Erick BlackwelderCall or text Erick Blackwelder right now for help finding a home, or help selling your house.  

Don't worry... Erick doesn't bite, and you won't get a sales pitch.  Text or call Erick now at 703-677-1120 for a FREE consultation.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge, Lorton, and Mount Vernon.

Exit Realty Associates
8998C Lorton Station Blvd
Lorton, VA  22079
Equal Housing Opportunity

 

 

 

 

 

 

 

"Hey Erick, tell me more about...."

Click the link above to email a question to me or call me now at 703-677-1120.  

 

 

Equal Housing opportunity.

Comment balloon 1 commentErick Blackwelder • October 15 2013 10:08AM
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