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It is now common knowledge that the economy has seen better days.  Even in the beautiful San Diego town of Poway, banks and homeowners are using creative means to solve the issue of possible foreclosure.  Unemployment levels are rising and with no end in sight, lenders have to allow short sales for financial survival or take the consequences of an excess of foreclosures inundating the market.  

Short sales, up until about two years ago, were not even considered a viable way to sell real estate.  Lenders wouldn’t allow short sales or would make them next to impossible to process because it meant that they would be allowing a sale of the property below what is owed by the homeowner.  But today, even in Poway, real estate owners and lenders agree that it is a better alternative than foreclosure for everyone involved. 

If you are a homeowner, the very first decision you must make is to select a real estate agent who is intimate with short sales in Poway.  They will do a walk through of your home, take pictures, get short sale package done and give you advice as to what needs to be taken care of before the home can be put on the market. 

Whether or not a short sale is the perfect option for your situation, when it comes to preparing your property for showing, minor repairs and cosmetic details need to be addressed.  This will give your Poway real estate agent a better chance of selling your home quickly. 

If you’re a buyer, let your Poway real estate agent know that you are looking for short sales.  Of course, it is necessary that the agent knows you can qualify for a loan from a lender.  When working with short sales, the loan amount you qualify for could be different so securing that information will make the process smoother. 
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