Tempting Talega on the Short Sale Slate

Tempting Talega On Short Sale Slate Talega is a newish master community down in San Clemente, described as “situated on 3,500
acres just up the hill from the Pacific Ocean, offers a classic beachtown lifestyle perfect for families.” Another reason it’s perfect for families?  Almost 43% of Talega’s current listings are short sales. The OC Register interviewed San Clemente broker Mike Cotter on the topic, “Talega is far from doomed, but represents remarkable real estate values for buyers. So far, San Clemente, including Talega, is absorbing its distressed properties at a reasonable rate.” Short sales have gotten a bad rap in the past, but as distressed homes and short sales take over the housing market, buyers and sellers are becoming more knowledgeable about the process and lenders are also growing more likely to agree to a short sale, BankRate.com explains,

Remember, after foreclosing the lender owns the home and has to maintain it, insure it and pay taxes on it. So instead of receiving
payments each month, the lender is now forking out money every month. Plus, short sales help the lender look good on paper — the property never gets listed as an actual foreclosure, which helps the lender’s numbers. They see it as the lesser of two evils — if the numbers make sense for them.

 

There are many great resources available to insure your short sale is a success. Bankrate.com has an easy to follow 10-step guide and SHORTsense.com can help you locate a SoCal short sale in your price range and setup you up with agents who are experts in the short sale process.

Minda Reves is a freelance blogger for SHORTsense.com

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