As most of you have noticed there has recently been a lot of buzz about short sales. Recently went to a few conferences and was surprised to hear all the big REO brokers talking about getting some short sale action. One of those conferences was held for a group of Master Brokers who probably thought they would never have to do a short sale. I remember about 3-4 years ago when a previous broker started marketing for short sales and everyone looked at him like he had been out in the Las Vegas sun way too long. Everyone was going crazy trying to get into the REO game and here he was making us work hard for no money. Those first short sales attempts....yes they were attempts because that's what most of them were....were tough! The banks didn't want to give us the time of day, there was so much follow up to do and not to forget the mountains of paperwork that needed to be done. Little did we know that he was getting us ready for the next HOT market! After a few short sale attempts I decided maybe the broker was crazy after all and went with the masses in the pursuit of REO. Fast forward to today's low REO inventory, REO brokers floating their teams and most agents jumping on the short sale band wagon. My crazy broker turned out to be a visionary who knew the cheese was about to be moved and he got a jump start on it! I bet he is smiling wide like a fat Chesire cat. Kudos to you Derek!!!
Ps
I did manage to close a short sale early in my real estate carer for a widowed mother whose husband had just passed away and was having a hard time paying her mortgage.
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Good Luck.
CHRIS SORONSEN has permited me to use some of his writings from Trulia see this link: http://www.trulia.com/blog/chris_sorensen/2009/12/new_short_sale_gu....