Short Sales/ sign of the times

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Real Estate Agent with Berkshire Hathaway Home Services
This mkt has its challenges, more so, because of the qty of short sales out there. From a Seller point of view, it is a way to unburden them of the monthly mortgage that most time is a slow strangulation of finances, emotions and quality of life. Whether it be: income loss or decrease, divorce, job relocation or downsizing, it can put the homeowner into this unfortunate, common event in these times. Short sales have less detriment on the credit of a person than foreclosure and should be considered seriously before letting it get to that point. Buyers, on the flip side, SS may offer a great opportunity to obtain a home at a lower than mkt price, if they have the patience to wait it out. 3-6 months is a typical time frame for an answer on an offer from the bank involved that holds the mortgage. Either situation, has its + and – but it is certainly here to stay for a while given the current mkt and state of the economy. I guess we need to look at the old scenario, do you see the glass half empty or half full?? Happy August to all! www.kgreenrealestate.com www.rosehavenstables.com
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Tags:
short sales
foreclosures
real estate
buyer
seller
market

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Rainer
269,744
Dan Hopper
Denver Realtor Advocate/Short Sale/Loan Modificati
RE/MAX Alliance, www.danhopper.com

Short and concise, Kevin.  Short sales do have their pluses and minuses.  We as real estate professionals are trying our best to capture those sellers that are facing a decision on avoiding a foreclosure or not.  It is a challenge to  capture them before they walk away, and take the foreclosure option.

July 30, 2011 08:52 AM
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Dan- absolutely, am running into these situations more and more. It is a great feeling to be able to assist Clients in these unfortunate circumstances!

July 30, 2011 09:23 AM
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Rainmaker
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Kevin Green

Residential & Equine Properties
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Additional Information

Author Bio: Kevin Green is a Full Time Realtor approaching his beginning of his 13th yr in the business and is a Co owner of a Horse Boarding & Riding Facility in Meriden,CT- Rosehaven Stables, LLC.

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