Agent

4 ways distressed homeowners can start fresh

Mood of the Market

Clearly, thankfully, the market is looking up. Way up, actually. In many markets, tales of multiple offers and a dearth of homes vis-à-vis the numbers of buyers who want them are becoming commonplace. Now, many analysts point to the banks' intentional decision to keep many foreclosures off the market as artificially driving this demand. But if you're a seller on today's market, the dynamics underlying the demand are much less important than the fact that your chances of getting your home sold at a good price are better than they have been in a long, long time. The news for buyers is not all bad, either: For the first time in a long while, buyers are not faced with the double-edged sword prospect of buying into a declining market; appraisals are coming in at the agreed-upon purchase price; and mortgage rates are still uber-low (fingers-crossed). But with all this fresh market optimism, there is an ugly elephant in our collective room, which is that many, many homeowners a...