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Broker Babble

New to the ins and outs of the real estate market? Yesterday we covered a Sun Valley-area 3 bedroom that is going for a rock-bottom price because it was a "short sale." What's a short sale, you're asking? Basically it's when a homeowner is about to default on their home loan and instead of going into foreclosure, decide it's a better deal to sell the place cheap for a loss instead. The borrower avoids having a foreclosure on their credit report, while the bank avoids substantial fees incurred in a foreclosure proceeding.