Sunday, September 26, 2010
Cyanda Monaco/Real Estate/Short Sale Expert: Short Sale's....The real truth.....
Cyanda Monaco/Real Estate/Short Sale Expert: Short Sale's....The real truth.....: "Well, it seems like the biggest Short Sale Tsunami is still to come. For those of us on the inside of this real estate snafu, it has become..."
Short Sale's....The real truth.....
Well, it seems like the biggest Short Sale Tsunami is still to come. For those of us on the inside of this real estate snafu, it has become apparent that the majority of our business in the next 5 years will becoming from Short sales. With a minumum of buyers in the current marketplace, even the well priced homes are sitting stagnant. Even the homes that we price aggressively seem to take more time to move than you can believe.
With most homeowners in a situation where they do not have a lot of equity and a market that is sliding downward, they can hope and pray they don't get into a situation where they have to sell. They, more times than not, realize very quickly that they are in an "underwater" situation on their home. They can't sell their home for enough money to pay off their mortgage, thus shoving them down the "SHORT SALE" path, usually against their will.
The majority of listings that agents now get called about are in some form of distress. With job losses on the rise and an economy in a slump, that is not going to change for most homeowners anytime soon.
Sellers need to make sure they are dealing with a qualified, EDUCATED agent in today's marketplace. They can quickly find out the hard way that they have hired an underqualified Realtor to try to help them wade through, over and around the mounting "pitfalls" that have been produced in todays real estate world.
Now more than ever Sellers need to take the time to interview their choice of REALTORS. Find out how much they know about Short Sales, Foreclosure avoidance, deed's in lieu, reinstatement and possible loan modifications.
Sellers need to take charge of their current situation by hiring the Professional Realtor. It, unfortunately is, in todays market, like trying to find a preverbial "needle in a haystack". In the past with REALTORS be looked at like a "dime a dozen" the table's have drastically turned.
Until we can get the growing DAILY,Short sale, Preforeclosure inventory out of the marketplace, the country's recovery will not be quick to turn around. We are still, in my opinion, just heading into the eye of the storm.
With most homeowners in a situation where they do not have a lot of equity and a market that is sliding downward, they can hope and pray they don't get into a situation where they have to sell. They, more times than not, realize very quickly that they are in an "underwater" situation on their home. They can't sell their home for enough money to pay off their mortgage, thus shoving them down the "SHORT SALE" path, usually against their will.
The majority of listings that agents now get called about are in some form of distress. With job losses on the rise and an economy in a slump, that is not going to change for most homeowners anytime soon.
Sellers need to make sure they are dealing with a qualified, EDUCATED agent in today's marketplace. They can quickly find out the hard way that they have hired an underqualified Realtor to try to help them wade through, over and around the mounting "pitfalls" that have been produced in todays real estate world.
Now more than ever Sellers need to take the time to interview their choice of REALTORS. Find out how much they know about Short Sales, Foreclosure avoidance, deed's in lieu, reinstatement and possible loan modifications.
Sellers need to take charge of their current situation by hiring the Professional Realtor. It, unfortunately is, in todays market, like trying to find a preverbial "needle in a haystack". In the past with REALTORS be looked at like a "dime a dozen" the table's have drastically turned.
Until we can get the growing DAILY,Short sale, Preforeclosure inventory out of the marketplace, the country's recovery will not be quick to turn around. We are still, in my opinion, just heading into the eye of the storm.
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