by Derrick on February 24, 2010
As of 2/24/2010 here is what the “active” Rockford real estate market looks like:
Active Single Family Homes:
- 23 for sale
- Average asking price $214,808
- Average home on the market for 198 days
- 4bd average
- 3bth average
- Built in 1993 on average
- Average finished square feet of 2,062
Active Townhome:
- 14 for sale
- Average asking price $179,307
- Average home on the market for 240 days
- 3bd average
- 2bth average
- Built in 2005 on average
- Average finished square feet of 1,719
If you have a property to sell in the Rockford area or looking to buy in Rockford we would be happy to help in any way we can. Call The Derrick Monroe Group with Lakes Area Realty today at 612-282-7653 or stop by our office at 8010 Hwy 55 in Rockford.
by Derrick on February 4, 2010
Do you ever feel like your between a rock and a hard place when it comes to your current equity? It’s OK, many people do. With the recent changes in the market, foreclosures and 
short sales have exploded into the market and you may be wondering what you can do if you’re in a negative equity situation.
First off the economy has affected most everyone in one fashion or another but almost everyone would agree it’s hit the equity of our homes and is leaving many people upside-down in their equity.
So what can you do? We can help guide you through a short sale. While we are not attorneys or providing any legal or accounting type advise we will say there are other options to help you besides foreclosure. Many sellers are looking to a short sale for an answer. In short, a short sale is where you owe more money on the property than it’s worth in the current market so we sell it subject to the banks approval and work out the deficiency balance with them – typically banks will, for lack of a better term “eat” the loss on their end.
A short sale had many advantages to you as a seller and homeowner compared to a foreclosure. If you would like to learn more about short selling your Rockford area home call me at 612-282-7653 or fill out one of our simple seller forms here.
