Looking At Short Sale Websites
In case you are not tuned into the most current real estate trends, let me point out how transactions known as short sales have overtaken foreclosures as a means to resolving delinquent mortgage payments. To get our definitions straight:
- A short sale is an agreement for the purchase of a home for less than the outstanding mortgage balance. This short amount is called the deficiency. So, say I owe $190,000 on my mortgage, but the property is only worth $140,000 in today’s market. With a short sale, a buyer would agree to purchase the property for $140,000, the bank would agree to forgive the $50,000 deficiency, and I turn over title to the buyer at closing. Many deals now include a cash incentive to help pay for my relocation, up to $30,000 if the lender is Bank of America. I lose the house, but as long as I’ve kept my mortgage payments current, my credit rating remains intact.
- A foreclosure is a legal judgment in which the lender takes title to the home after the home owner defaults on the mortgage. The homeowner is then evicted and must endure at least five years of rotten credit ratings. A bankruptcy is also usually in the mix, which only worsens the homeowner’s credit rating. The house is eventually put up for sale by the bank, albeit at severe discount, even with respect to a short sale. Foreclosures are messy, expensive and take a long time, especially if the homeowner fights it in court.
With the ascendency of short sales, I thought I’d search the Internet to find an excellent example of what the web site of a real estate agent specializing in short sales should look like. My candidate is a San Diego short sale website that has all the attributes I was looking for:
- Design: A very pleasant and uncluttered design. Many websites seem like a hodgepodge with lots of tedious information that no one ever reads. This site uses basic blues and greens in an attractive manner, with just the right amount of images and text. Navigation is straightforward, and the small number of pages means you can take in the entire site quickly.
- Content: All content is factually correct, easy to understand and easy to read.
- Call to Action: A simple form is available for you to fill out and receive a free evaluation.
- Live Help: You can initiate a live conversation at any time, a real plus.
- Video: The short video is professionally produced and informative.
- Blog: An exceptionally well-written blog keeps readers updated with the latest developments regarding short sales. My only issue with the website is that they should have navigation to the blog at the top of the page instead of just in the footer.
There you have it. Whatever your product or service, my advice is to check out this site and get some good ideas on how to improve yours.