Expert, localized Los Angeles answers provided by Heather Roy

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Neighborhood Short Sale

  I have a home that was worth $287,000 but there was a recent short sale in our neighborhood for $100,000 less than market value. Won't this affect our value due to sales comparisons? We are afraid we owe $100,000 more than its worth now? Any suggestions?
 
  If you don't have to move, and if you can afford your monthly payments, then consider yourself lucky.  Just stay put and enjoy your home.  No telling what the market will look like in the future.
    Edith
Originally published on January 3, 2010
 
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