Slaby recently photographed the Shearn family for The Wall Street Journal. The Shearns purchased their seven bedroom home in Cherry Hills Village, an exclusive, gated suburb of Denver, for more than $900,000 below it’s original list price. The house sold for slightly less than 1.3 million dollars as a short sale, a pre-foreclosure type of transaction that allows the bank and the troubled seller to move the property before repossession. The bank takes the proceeds of the sale, usually less than the outstanding balance on the property, in order to avoid the expense and burden of foreclosure proceedings.
The full article can be viewed here.
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