Real Estate Information

In order to provide better information on a variety of subjects, The Crockett Team has initiated a series of videos that will be imbeded in our website.  As an example, the following video discusses our Marketing Plan which has been highly effective in helping us sell more homes than any other Realtor in the state.  Enjoy!

   In any given real estate market there is always a certain percentage of homeowners who suffer financial difficulties, start missing mortgage payments and head      towards foreclosure.  The reasons for this are many, but most recently, the majority of these are due to  variable rate and exotic mortgage programs that are resetting into higher payments.  In many cases these resets yield monthly mortgage payments that are so high that they are unsustainalble by the homeowner resulting in default in a very short period of time.  Default is defined as missing just one payment.  Properties in default are referred to as distressed properties.

   Homeowners in this situation should understand that they are not alone.  Stories about this mortgage crisis dominate the news media.  Default is a serious problem that should not be ignored.  These problems can be mitigated and the resultant damage to your credit rating minimized, but it does take immediate professional assistance by an expert trained to negotiate for you with your lender.

    Default can lead to foreclosure which is the worst case scenerio.  If the situation cannot be remedied by a refinance or recast of the payments, the best approach is to structure a plan of action to negotiate a short sale before it goes into foreclosure.  Short sale is the best thing possible; foreclosure is the worst thing possible.

   For more information go to the Avoid Foreclosure Hotline . 

  If you have any questions, please call me for a confidential consultation with NO COST OR OBLIGATION at (440) 974-7444.

                                                      David Crockett, CDPE (Certified Distressed Property Expert)

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.