Frederick County Short Sale Blog | Homes for Sale in Frederick Md

What is a Short Sale?

Many buyers are noticing "third-party approval" and "short sale" tags on descriptions of listings.  In most cases, the third party is the bank, and the listing is most likely a short-sale.  A homeowner who, for any of several reasons, is having trouble making their mortgage payment, can often avoid foreclosure by entering into what is called a short sale agreement with the lender.  They can negotiate with the bank to sell their home for an amount that is "short" of what they owe. 

Banks are not in the business of owning property, and are willing to negotiate on a short sale much more these days than ever before.  The large number of defaults, because of the amount of bad subprime loans made over the last few years, has the banks overwhelmed.  Short sales have been around for years, just not in the volume we're seeing today.  It used to be that you had to search extensively to find a real estate agent who specialized in distressed properties; now, in some neighborhoods, over half the homes on the market are bank-owned or short sales.

The short sale process has been getting a lot of bad press lately, and much of it deserved.  Did you know that in Maryland, only 1 in 31 short sale listings ever make it to settlement?  The reason is basically two-fold:  1. Most Realtors don't know what they are doing when it comes to short sales, and 2. Banks are overwhelmed and understaffed.  So understaffed that they don't have the ability to communicate with realtors.  (We speak Greek, they speak Swahili!)

Realtors can learn the detailed process in 2 ways:  trial and error, or by being trained.

Chris and I chose the latter.  We've aquired a certification with extensive training and ongoing support that has equipped us to deal with distressed properties.  CDPE, Certified Distressed Property Expert.  Call us today if you, or someone you know is having trouble making their mortgage payment.  We may be able to help you or them avoid foreclosure.  301-831-9947.  We'll help you asess your options.

10 Ways to Make a Small Room Look Larger

RISMEDIA, October 25, 2010--Most people have one: that room in the house that they wish was just a little larger. What many don't realize is that with a little work and some TLC, they could have exactly what they're looking for.

Here, Lowe's offers 10 designer tricks to help you make any room look larger:

1. For the illusion of a larger room, use a color scheme that is light rather than bright or dark. Pastels, neutrals and white are all color possibilities.

2. Use a monochromatic color scheme on the furniture, rugs and walls. Select different shades and textures of your single color.

3. Lighting is a key element in opening up a space. Recessed spot lighting is visually appealing and is perfect for a small space. A torchiere light is great for bouncing light off of the ceiling and back down on the room.Skylights and solar tubes are natural alternatives for adding light to a room.

4. Limit the number of accessories to avoid the cluttered feeling.

5. The floor and the ceiling are the fifth and sixth walls of every room. A light-colored flooring such as light oak or a light-colored carpet will make the room appear brighter and more open. The same applies to the ceiling—use a light color or white to "open up" the space above.

6. Increase the appearance of the size of the room by adding wall mirrors. They not only reflect images, they reflect light and color. Be a little daring! Use mirror tiles to mirror an entire wall. Your room will appear to double in size.

7. Don't place too many pieces of furniture in a small space. A love seat may work better than a full-size sofa depending on the size and shape of the room. Add two medium-sized chairs or two small wood chairs. Place the chairs closer to the wall and then pull them into the area when additional seating is needed.

8. Add paintings or prints to the walls. One large painting works better than a group of small paintings.

9. The visual balance of a room is also important. A large, brightly colored element can overwhelm a room and decrease the appearance of space.

10. A glass table, whether it is a dining, coffee or end table, will keep the appearance of an open and free space.

For more how-to project ideas, visit Lowe's How-To Library at http://www.lowes.com/cd_How+To+Library_615580068_.

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