Boulder Short Sales

Posted by Phil Boren on Thursday, April 15th, 2010 at 11:11am.

Boulder short sales . . . sounds like an opportunity for someone, right? And with the new Home Affordable Foreclosure Alternatives, or HAFA, in place to (hopefully) streamline the short-sale process, 2010 is being touted as "the year of the short sale", by some. While there can be advantages to short sales vs. foreclosures and closed short sales may become more prevalent this year, every time I get involved in a short sale I'm reminded how complex they are on more than just a real-estate level.

Whether it's a foreclosure or a short sale, both types of "distressed" sales usually involve various combinations of unfortunate circumstance(s), sadness, and emotional trauma that make the transactions more complex and far more challenging. With foreclosures, much of the personal trauma has passed with the primary lender taking title to the property. But, the aftermath and effect on the neighborhood may be yet to come.

With short sales, the drama inflicted on the people involved - the parents, the kids, the extended family - is ongoing and traumatic. Historically, the short-sale process has taken many months to work through, prolonging the stress on the entire family. We all hope that HAFA will, at the very least, reduce the time involved and make the process less devastating to the people involved.

If you are in a situation where you think a short sale might be your last option, contact us. We have the experience and the resources to guide you through the process. Even if you're facing foreclosure, there are still resources out there for you and we can work with you to help.

If you're buying a Boulder home and want to research these distressed properties for sale in Boulder Valley, we have resources for you as well. Our system will allow you to search for foreclosure and short sale listings across all Boulder MLS listings at the touch of a button, using our custom home-search feature:

If you have any questions about the short-sale process or your potential options under the new HAFA guidelines, please feel free to call us at 303-441-5647 or contact us online.

Phil Boren
Direct: 303-441-5647
Email: pboren@remax.net
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