Who wouldn't love relaxing on this beach? Or kayaking, canoeing or sailing around this large, natural glacial lake just minutes to Milford? Just closed on this lot in Sagamore Estates for ONLY $6,000 to a local Pike County family that wants to do just that. Call me today to secure one for you & your family!

We hope to see you around town in Milford this Saturday for SeptemberFest. We will be hosting a charity yard sale, all proceeds benefiting Safe Haven & the Pike County Humane Society (2 great local organizations). 9-4 Saturday only. Hope to see you!

As unfortunate as it can be when homeowners fall behind on mortgage payments and must face the possibility of losing their homes, short sales and foreclosures provide them options for moving on financially. The terms are often used interchangeably, but they’re actually quite different, with varying timelines and financial impact on the homeowner. Here’s a brief overview.

A short sale comes into play when a homeowner needs to sell their home but the home is worth less than the remaining balance that they owe. The lender can allow the homeowner to sell the home for less than the amount owed, freeing the homeowner from the financial predicament.

On the buyer side, short sales typically take three to four months to complete and many of the closing and repair costs are shifted from the seller to the lender.

On the other hand, a foreclosure occurs when a homeowner can no longer make payments on their home so the bank begins the process of repossessing it. A foreclosure usually moves much faster than a short sale and is more financially damaging to the homeowner.

After foreclosure the bank can sell the home in a foreclosure auction. For buyers, foreclosures are riskier than short sales, because homes are often bought sight unseen, with no inspection or warranty.

Hard to believe we are a week into August already! Hope you're enjoying your summer so far! The July Market Snapshot continues to show signs of a continuously improving local real estate market with less days on market and higher average sales price. That should continue to be the case at least through the end of the year as we head into the best selling real estate months of the year. If you're considering selling, please call me today to get your complimentary market analysis and see what your home is worth. Don't forget we have an awesome marketing program in place which is why we continue to have success in the real estate market.