5 Keys to set your goal in real estate market

1. While setting your goal, it must be specific, detailed, and clear. You need to spend time towards it in order to put them in a written form. Your goal must be concrete and tangible .The goals you set must not be too vague. Well-written goals will provide the desired result. Try to define your goals in high manner.

2. The goals must be measurable. Set your goals in a way that can be able to analyze and evaluate your progress and results in a consistent way. It must be realistic. Apply specific time period to achieve your goal. The best goals have specific deadline. They must also be monitored.

3. Know your capacity and set your goal. Try to avoid setting goal beyond your capacity because they will stretch you and mold you into a new person. Jim Rohn wisely said that "It’s not the money that makes the millionaire successful; it’s what he had to become to earn a million dollars." If you try to take the money away from that millionaire, it would make it back twice as fast as before, because he learned the skill to make it in the first place.

4. Your goals must congruent to each other. It must deals with your results and values. It must also be harmonious with each other.

5. Your goals must balance your family, financial, physical, mental, and business.

A short sale in real estate investment

A short sale is a sale of real estate in which selling of the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens' full amounts, whereby the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.Any unpaid balance owed to the creditors is known as a deficiency.

The reason to accept at low cost by the lender is that they know that if the property were to go into foreclosure and to be auctioned, they would lose a much more money than if they were to just sell short sale and have to accept a discount price.As a homeowner, you must provide the lender a Hardship Letter, explaining why you are unable to make your payments. You must also provide your pay stubs, bank statements, etc to the lender.The lender will contact the real estate agent in the regarding area and will ask them to perform a Broker’s Price Opinion, on your property to give their opinion on what your home is worth.

If you’re a buyer looking for a deal on a house,then the best type of short sale property to go after is one that needs work and repairs.The reason for this is that lenders will realize that the property is one that isn’t desirable to most buyers, and so they will be willing to accept at lower price.

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