Tamera Roulund's Real Estate Blog | Ridgecrest, CA | Home Sales, First Time Home Buyers, Short Sales, Foreclosures, Housing Market

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Tamera Roulund
Sales Associate

    5 Years Experience

Direct: (760) 371-5723

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Questions and Answers

What is Foreclosure?

Friday, April 3rd, 2009

A legal process by which the lender seizes property of a homeowner, usually due to the homeowner not making timely payments on the mortgage.

What is a Short Sale?

Friday, April 3rd, 2009

A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes.

Market Recap

  • Avg. Sales Price: $195,000

  • Avg. Days on Market: 126

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