In these times of financial uncertainty, deciding whether or not to sell your home through a short sale action can be very stressful. Your lender will, of course, advise you according to what is in their own best interest first and foremost.
So then, how do you know which path to take? A short sale may seem to be the best course of action, however, choosing whether or not to sell your home, even in the best of times, can be a difficult decision to make.
Lori Ballen, CEO of Ballen Group International, a Las Vegas based team of real estate professionals, discusses the launch of a new online tool geared towards helping homeowners make this choice.
"Millions of Americans hold a firm belief that their home is an investment," said Lori Ballen, “but those investments haven’t had positive returns in the past few years.”
The tool starts with the premise that your home is an investment. The “short or stay calculator” will give homeowners an idea of when their home could become profitable again. In other words, after using the tool they will know approximately how long they might remain underwater in their homes.
If you knew that hanging on just 3 or 4 more years would mean that your investment will start to grow again, would that change your mind on selling?
The tool is easy to use and will fit each person’s individual scenario. "We've simplified this decision calculator to show you the financial facts about your specific situation," noted Ballen.
The calculator will provide important information about your home’s current value, and will use a number of possible market conditions to show you when your home could become an asset again.
Ballen continued, "We know short selling a home can be a difficult decision. Hopefully, this short sale decision calculator can help families make the decision that is right for them."
There is no cost for the calculator. It is available at http://www.NevadaShortSaleServices.com