Justin Berggren Real Estate

10/03/2024

https://www.facebook.com/share/9Hcgvd1BGimmExk7/?mibextid=WC7FNe

Facing a short sale or foreclosure? Don’t panic - Here’s what you need to know! 🏡

Let’s face it, dealing with a short sale or foreclosure can feel like you’re standing on the edge of a cliff. The financial stress, the uncertainty - it’s a lot. But here’s the thing: you don’t have to go through it alone.

🔹 Short Sales: Imagine selling your home for less than what you owe on your mortgage, with your lender’s blessing. Sounds tricky, right? It is, but it’s also a way to avoid the harsher impact of foreclosure on your credit. I’m here to help you navigate the negotiations and get the lender’s approval.

🔹 Foreclosures: This is the BIG one. When the bank takes your home because you can’t keep up with payments, it can feel like the end of the world. But even here, you have rights, and I’m ready to stand by your side to protect them.

Here’s the deal: Whether it’s a short sale or a foreclosure, the process is complicated, emotional, and stressful. But you don’t have to figure it all out by yourself. I’ve guided many clients
through these difficult times, and I’m here to do the same for you.

Ready to talk about your options? Contact me today and let’s find the best path forward.

Justin Berggren
📲 312-502-3737

09/14/2024

https://www.zillow.com/homedetails/52191-Carriage-Hills-Dr-South-Bend-IN-46635/77046715_zpid/

Homes & Specialty is offering this five bedroom home with finished basement is located in a desirable, established neighborhood in South Bend IN close to the Notre Dame campus.

New price brings it UNDER 350k

This home was fully renovated and must be seen. Check it out now.

This 3204 square feet Single Family home has 5 bedrooms and 3 bathrooms. It is located at 52191 Carriage Hills Dr, South Bend, IN.

08/27/2024

Only one week left to place your bid on this 13,000 + SF Commercial Building in Elkhart IN.

This historic stone three level former Temple Property was most recently a beautiful event, wedding, and banquet center. Property qualifies for retail uses and possible TIF and other incentives available.

This property does need some repairs and it represents a great opportunity for an investor to acquire a lot of square footage at a discount and to add value and resell or rent short term or long.

Commercial Real Estate Auction Online Only. Listing price is minimum bid and does not constitute an offer. Possible TIF. City/State Incentives possibly available. 13,860 square feet and three levels, this historic Masonic Temple, located in the heart of Elkhart, IN, offers a unique and versatile spa...

07/27/2024

Gov’t scrutinizes Realtors fees for making housing unaffordable. Now offers on my listings are 2% to 3% OVER list price to cover buyer agent commission cost which are now being financed into deals.
No win for afforadable housing.

05/25/2023

Trail Creek home Available Now!

05/25/2023

Presenting 202 Edgemoor in Trail Creek, IN

This totally remodeled four bedroom, two bathroom home features a finished basement with egress window, a sunroom, and is located directly across from a park in Trail Creek.

Contact me for more details.

11/28/2022

Happy Monday Morning!

I get asked often what is happening in the housing market with regard to pricing.

Here is a short piece based on a very recent report released by Morgan Stanley (MS) summarizing its outlook on mortgage prices.

In sum MS looks at economic and pricing data along with popular measure of housing prices called case-shiller to predict that overall home prices will ultimately decrease around 10% from their peak in 2022 (which were almost 40% higher than 2019!!) to what it estimates the bottom will be in 2024.

As we have been observing, housing inventory continues to stay low as the “lock up effect” of homeowners refusing to sell homes that are mortgaged at low interest rates keeps fewer homes from going on the market because sellers don’t want to sell a home they mortgaged for a low rate and in which they probably have equity to buy at inflated prices and mortgage rates.

So even though higher interest rates has lowered demand, this lock up effect has lowered supply which keeps prices relatively more stable.

Two alternative cases are presented, one for a bull (stronger) market that would see the maximum drop in prices at 5% and a bear (bigger and longer drop) market that would see a 20% decrease if inflation remains high and jobs/wages continue to lower.

Regardless, MS does not see a repeat of the 2008 crash becasue of stronger market fundamentals and bank’s being better prepared to manage distressed situations.

Following the market is important, but life needs are even more important. If you need to make a move, let’s talk about your case. Each situation, like each property is different. I can look at your situation and provide the insight needed to make an informed decision.

Note that the commercial real estate market is currently stronger than the residential market.

The same dynamics as discussed above impact commercial real estate, which keeps prices more stable, but because market participants tend to buy and sell commercial
Real Estate for business rsther than personal
reasons, the lock out effect is not as strong in the commercial market.

This is good for buyers and sellers.

Listing Leaders Commercial Specialty: We Know Commercial.

Have a great day!

Peak-to-trough, Morgan Stanley expects U.S. home prices to fall 10% by 2024.