Available Short Sale Listings in Lehigh & Northampton County ONLY.

• We will post Free Monthly links to properties that are Available as of the above date. The Report is in Summary format – If you are interested in a full report – Please contact me and we can work together to get you what you need. NO CHARGE & No Pressure!

• If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.

• If you would like us to set you up on a Daily email list of Lehigh Valley Short Sale Listings that fit your specific needs…Please Contact us and we will set you up for FREE or you can Request a Search HERE.

• Listings are pulled by Lehigh & Northampton Counties and Separated by Detached/Single Family Homes and All other property Types – The listings are in order by list price least to greatest.  If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

• Lehigh County Detached/Single Family Short Sale Listings:  94 Properties – Link Here

• Lehigh County ALL Other Property Types – Short Sale Listings: 98 Properties – Link Here

• Northampton County Detached/Single Family Short Sale Listings:  102  Properties – Link Here

• Northampton County ALL Other Property Types – Short Sale Listings: 43 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available UPON Request. This report is provided by running a consumer summary report from the Lehigh Valley MLS.

This information is provided to you by Moriah Martin, Real Estate Agent with Prudential Regency real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property.

What is a Short Sale: A Short Sale is when a homeowner owes more on their Mortgage for their home then their home is currently worth at current market value.  The homeowner is trying to avoid Foreclosure by selling their home as a short sale. 

What the Consumer/Buyer should know about Short Sales

1) The number 1 most important part to thinking about buying a short sale is you need to be working with a Real Estate Agent who has experience negotiating and closing short sales…this way they know what questions to ask the Listing/Seller’s agent to make sure the short sale is being processed correctly. 80% of the Real Estate Agents who list short sales have no idea what they are doing….most have never even closed on a short sale. You do not want to work with Agents who have no experience in successfully closing short sales.  It is a waste of time.

2) The most important way to decide if you want to make an offer on a short sale is if you are in a position where the type of home you are looking for is hard to find….meaning there are no other homes available on the market that are either Typical owner occupied sales or Foreclosures….because right now, We are in a Buyer’s Market…so, as you know there is a large inventory of many types of homes…..if you can find a home that is not a short sale….then you may want to forgo the stress of making an offer on  a Short Sale.

3) Short Sales are most perfect for people who are in a current month to month renting situation or living with family…they are in no rush and have the time to wait around about 60 to 90 days just to get a reply to their offer from the seller’s Bank.  Then close within 30 days later…Typically, the entire process is about 4 months until settlement.  If the short sale is processed correctly by the seller’s agent or the third party negotiation company.

4) Short Sales will not take a home sale condition – So, if you need to sell your home….forget looking at short sales.

Questions you need to ask the Listing Agent – As a Consumer & Buyer Agent

1) You need to make sure that the Listing Agent has pulled a title report to verify what liens & judgments are against the seller.  Just because the seller said they only have 1 lien does not mean they only have 1 lien. THIS MUST BE VERIFIED.

2) You need to make sure that the seller is current and up to date with their water/sewer/trash bills through the local municipality and all taxes are also paid up to date IF THEIR TAXES ARE NOT INCLUDED IN THE LOAN PAYMENT.  Just ask the Listing Agent – If it has not been verified….again the title company can do this.  There are Banks who will NOT pay these defaults. FHA will not pay water/sewer/trash bills…the seller MUST keep these current.

3) How many Lien’s are on the property and who is the Mortgage Company – What type of loan ie: FHA, Conventional etc. ?? If it is an FHA loan….that is a good thing as FHA will tell the seller exactly what they will accept for the property after the appraisal has been completed – it is 80% of the current market value to start…so this way the process is much easier and more likely to get a reply from the seller’s bank faster.  Plus, you as a buyer know what you will be expected to pay for the home.  The Bank expects current market value or just a hair under.  Remember,  The seller already owes OVER CURRENT MARKET VALUE and the Bank is already loosing money at current market value.

4) If there are 2 Liens/Mortgages on the property – You must ask the Listing Agent if they have also started the short sale process with the 2nd Lien? This must be done at the same time….it is not uncommon for the 1st Lien holder to NOT pay the 2nd Lien off in full….the process for the 2nd Lien holder takes just as long as the first Lien holder and why this should be done at the same time.

5) If there is a Third Party negotiation company – This means that the listing agent is not handling the short sale.  You need to know who the negotiation company is and how they are going to process the short sale etc.  You should request weekly followup and communication. If there is a negotiation company – You the buyer will be paying for this service…NOT THAT I AGREE WITH THIS.  But, if the home is your dream home, 1% of the purchase price may be worth it.  You may also be charged 2% transfer tax instead of 1% as part of your closing costs.

6) If you need seller’s assist – because you do not have all the money you need for the closing costs.  It is standard practice that Banks will only give a total of 3% seller’s assist.  So, if you need 6% – don’t even try.  The seller’s Bank will most likely not give you 6% no matter what.  This is also True with Foreclosures….they will normally only approve 3% also – except Fannie Mae Foreclosures…they will give you 3.5%.

Well…that is pretty much the most important points to keep in mind. Weekly followup with the Listing Agent on how the short sale process is moving along is really important.

A good practice for your Buyer agent would be to investigate the listing agent by pulling their listing history to see if they have closed any short sales over the past 1 to 2 years….then you know what you are dealing with.

Listen the worst thing that can happen is you wait around for 60 days min and you do not get a reply from the seller’s bank…at that point you will have the right to continue to wait by extending the time you are going to give to them in writing or just get out of the contract and get your deposit money back.

The worst part of making an offer on a short sale…is not knowing what is going on and not being able to make an

GOOD LUCK!  I hope this has helped you.offer on another home at the same time.

• We will post Free Monthly links to properties that are Available as of the above date. The Report is in Summary format – If you are interested in a full report – Please contact me and we can work together to get you what you need. NO CHARGE & No Pressure!

• If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.

• If you would like us to set you up on a Daily email list of Lehigh Valley Foreclosed/Bank Owned Listings that fit your specific needs…Please Contact us and we will set you up for FREE or you can Request a Search HERE.

• Listings are pulled by School District and we have provided the most popular Links..If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

• Allentown, Southern Lehigh School District Listings:   54 Properties – Link Here

• Bethlehem, Nazareth, Whitehall/Coplay School District Listings: 36 Properties – Link Here

• Easton, Wilson, Bangor Area School District Listings: 47 Properties – Link Here

• Northampton, Catasauqua, Northwestern, Northern Lehigh Area School District Listings: 32 Properties – Link Here

• East Penn & Parkland, Salisbury Area School District Listings: 16 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available UPON Request. This report is provided by running a consumer summary report from the Lehigh Valley MLS.

This information is provided to you by Moriah Martin, Real Estate Agent with Prudential Regency real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property.

• We will post Free Monthly links to properties that are Available as of the above date. The Report is in Summary format – If you are interested in a full report – Please contact me and we can work together to get you what you need. NO CHARGE.

• If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.

• If you would like us to set you up on a Daily email list of Lehigh Valley Foreclosed/Bank Owned Listings that fit your specific needs…Please Contact us and we will set you up for FREE or you can Request a Search HERE.

• Listings are pulled by School District and we have provided the most popular Links..If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

• Allentown, Southern Lehigh School District Listings: 54 Properties – Link Here

• Bethlehem, Nazareth, Whitehall/Coplay School District Listings: 37 Properties – Link Here

• Easton, Wilson, Bangor Area School District Listings: 51 Properties – Link Here

• Northampton, Catasauqua, Northwestern, Northern Lehigh Area School District Listings: 30 Properties – Link Here

• East Penn & Parkland, Salisbury Area School District Listings: 16 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available UPON Request. This report is provided by running a consumer report from the Lehigh Valley MLS.

This information is provided to you by Moriah Martin, Real Estate Agent with Prudential Regency real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property.

Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:

1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.

2. How much you owe? If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.

3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer’s oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.

4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.

5. The types of credit you use. Generally, it’s desirable to have more than one type of credit — installment loans, credit cards, and a mortgage, for example.

For more on evaluating your credit go to www.MyFico.com

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.

In high-priced housing markets, it can be difficult to afford a home. That’s why a growing number of home buyers are forgoing traditional fixed-rate mortgages and standard adjustable-rate mortgages and instead opting for a specialty mortgage that lets them “stretch” their income so they can qualify for a larger loan.

But before you choose one of these mortgages, make sure you understand the risks and how they work.

Specialty mortgages often begin with a low introductory interest rate or payment plan — a “teaser”— but the monthly mortgage payments are likely to increase a lot in the future. Some are “low documentation” mortgages that come with easier standards for qualifying, but also higher interest rates or higher fees. Some lenders will loan you 100 percent or more of the home’s value, but these mortgages can present a big financial risk if the value of the house drops.

Specialty Mortgages Can:

•    Pose a greater risk that you won’t be able to afford the mortgage payment in the future, compared to fixed rate mortgages and traditional adjustable rate mortgages.
•    Have monthly payments that increase by as much as 50 percent or more when the introductory period ends.
•    Cause your loan balance (the amount you still owe) to get larger each month instead of smaller.

Common Types of Specialty Mortgages:

•    Interest-Only Mortgages: Your monthly mortgage payment only covers the interest you owe on the loan for the first 5 to 10 years of the loan, and you pay nothing to reduce the total amount you borrowed (this is called the “principal”). After the interest-only period, you start paying higher monthly payments that cover both the interest and principal that must be repaid over the remaining term of the loan.

•    Negative Amortization Mortgages: Your monthly payment is less than the amount of interest you owe on the loan. The unpaid interest gets added to the loan’s principal amount, causing the total amount you owe to increase each month instead of getting smaller.

•    Option Payment ARM Mortgages: You have the option to make different types of monthly payments with this mortgage. For example, you may make a minimum payment that is less than the amount needed to cover the interest and increases the total amount of your loan; an interest-only payment, or payments calculated to pay off the loan over either 30 years or 15 years.

•    40-Year Mortgages: You pay off your loan over 40 years, instead of the usual 30 years. While this reduces your monthly payment and helps you qualify to buy a home, you pay off the balance of your loan much more slowly and end up paying much more interest.

Questions to Consider Before Choosing a Specialty Mortgage:

•    How much can my monthly payments increase and how soon can these increases happen?
•    Do I expect my income to increase or do I expect to move before my payments go up?
•    Will I be able to afford the mortgage when the payments increase?
•    Am I paying down my loan balance each month, or is it staying the same or even increasing?
•    Will I have to pay a penalty if I refinance my mortgage or sell my house?
•    What is my goal in buying this property? Am I considering a riskier mortgage to buy a more expensive house than I can realistically afford?

Be sure you work with a REALTOR® and lender who can discuss different options and address your questions and concerns!

Learn about the NATIONAL ASSOCIATION OF REALTORS® Housing Opportunity Program at www.REALTOR.org/housingopportunity. For more information on predatory mortgage lending practices, visit the Center for Responsible Lending at www.responsiblelending.org.

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.

1. What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information.

2. How often are properties reassessed, and when was the last reassessment done? In general, taxes jump most significantly when a property is reassessed.

3. Will the sale of the property trigger a tax increase? The assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as California, taxes may be frozen until resale. In Lehigh and Northampton County areas, Re-assessments are NOT triggers by the sale of a property.

4. Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate.

5. Does the current tax bill reflect any special exemptions that I might not qualify for?

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.

3. They don’t find the right agent who’s willing to help them through the homebuying process.

4. They don’t do enough to make their offer look appealing to a seller.

5. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.

Source: Real Estate Checklists and Systems, www.realestatechecklists.com

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.

• We will post Free Monthly links to properties that are Available as of the above date.

• If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.

• If you would like us to set you up on a Daily email list of Lehigh Valley Foreclosed/Bank Owned Listings that fit your specific needs…Please Contact us and we will set you up for FREE or you can Request a Search HERE.

• You can View a DEMO Lehigh Valley MLS Search HERE

• Listings are pulled by School District and we have provided the most popular Links..If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

• Allentown, Southern Lehigh School District Listings: 74 Properties – Link Here

• Bethlehem, Nazareth, Whitehall/Coplay School District Listings: 36 Properties – Link Here

• Easton, Wilson, Bangor Area School District Listings: 40 Properties – Link Here

• Northampton, Catasauqua, Northwestern, Northern Lehigh Area School District Listings: 20 Properties – Link Here

• East Penn & Parkland, Salisbury Area School District Listings: 16 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available on all Reports.

This information is provided to you by Moriah Martin, Real Estate Agent with RE/MAX real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property

Depending on What “Type” of Home you purchase will depend on the out of pocket expenses you may have as well as if your plan on getting a loan or paying cash. But, in most cases there are “standard” out of pocket expenses you will have and I will even give you the time frame as to when you will need this CASH on hand. 

Note: A good Rule of Thumb on Closing Costs if you are getting a loan is 6% of the purchase price – $100,000.00 home price would be $6000.00 in closing costs.

Standard out of Pocket Expenses for the purchase of a Residential Home

1) Making your offer – Your Good Faith Deposit – This Should be as much money as you can put down – nothing less than $1000.00.  Unless you are working with a Down Payment and Closing Cost Assistance Program like the Lehigh Valley HOOP Program or PHFA. This is proof that you do not have lots of money saved or in the bank and the seller understands the lower down money with your offer.

Once your Home Offer has been accepted and signed by the Seller

2) Home Inspection Fee within 5 days of your offer getting signed, in my opinion – Nothing less than $350.00 up to $600.00 (if the home has well and septic and is vacate…this will increase the cost up to and including $600.00) If the homes you are looking at have Public water and sewer and you get a Home Inspection and Termite..You are looking at about $350.00 to $400.00. Depends on what Home Inspection Company you use.

3) Appraisal Fee – This must be paid at your application appointment within the first 10 days of your offer getting accepted. This can cost on Average of $475.00.  This is one major reason why you should have your home inspection done within the first 5 days.  This way if you find out something that is major on the inspection and the seller will not negotiate with you..You are not wasting another 475.00 on an appraisal. Verify with your Mortgage Company

4) First Full year from Homeowners Insurance – This must be paid at least 2 weeks prior to settlement day.  Settlement is Typically 30 to 45 days from the time your offer get’s signed.  But, if you are purchasing a Foreclosure, then typically it may take 60 days to close. Short Sales are another story. Estimate Annual Cost: Average $700.00 per yr but depends on coverage.

5) That’s it – Then you will bring the rest of the Down Payment for your Loan that you will be getting to settlement.  Example: FHA Loan requires you put 3.5% down – $100,000.00 purchase price you would need a total of $3500.00 – $2000.00 down when you make your offer and then the remaining $1000.00 and ALL closing costs the day of settlement.  NOTE: Rule of Thumb for closing costs are 6% of the purchase price. But, it will depend on the home purchase price and the property taxes for the home…so, you need to get an estimate on each home that interests your before you count on anything. This will come from your Real Estate Agent & Mortgage Officer.

If you are interested in getting a FREE Home Buing Estimate tailored to your needs…just contact me via click, call or text.

You will get the following answers.

1)  Estimate on your Downpayment FOR different types of loans
2) Est closing costs
3) Est property taxes based on the Home type and area you plan to purchase in
4) The monthly payment…for the loan only and also including the taxes and insurance.
5) If you need to sell first – I can work up your net proceeds based on your Estimated Home Value too

You can not make GOOD decisions WITHOUT GOOD information.

Let me guide you.

When it comes to CASH out of Pocket there should be NO Surprises