Taking Advantage of Short Sales

RE/MAX Elite and the Clermont financial group. If you absolutely, positively want to position yourself to be successful in today's market!


And the bad news just keeps coming- Home prices keep falling, foreclosures keep rising, a gallon of gas keeps getting more expensive, food costs keep increasing, the stock market keeps falling, and we all keep wondering when will it end?

The market we have this year is the same market we'll have next year. Things are not going to change over night. But the good news is that the resourceful will survive. We just have to adjust our strategies.

In past Blog postings I talked about foreclosures, how they're a reality today and could be a part of a successful real estate business. Now, I'd like to remind you about Short Sales. Many lenders are realizing that they'll save money the sooner they can get a property off the books. So, when they fear a homeowner may be headed for foreclosure they may fix a sales price lower than the mortgage balance, and put the property on the market for a quick sale.

Short Sale opportunities are on the rise and if you have clients that are fearing foreclosure, encourage them to talk to their lender. Did you know that two thirds of homeowners in default never even contact their lender?

If the lender does agree to a Short Sale, it can work to everyone's advantage. The homeowner avoids foreclosure, the lender avoids the carrying costs, the neighborhood avoids another abandoned property on the block and a professional real estate agent can provide a beneficial service to a grateful consumer.

RSN just finished production of a very timely course, "Foreclosures, Short Sales and REO's." This very informative program is available on DVD and can be ordered here on Mainstreet in the Education Registration area. This course can also count toward a FSSAR certification.
Since this market will be with us for a while, I would recommend you learn how to handle these types of transactions. You'll add another tool to your tool box, help yourself through this turbulent time and also help reduce this tremendous inventory.

If you've had experiences in Short Sales and would like to share them. I'd like to hear from you and let everyone benefit from what you've learned.