The New Face Of Real Estate In The Next Decade

[Sally Morris]

It's sad but true the next decade of real estate will be entirely different than what it has been and will be for many years to come. This mess we've found ourselves in did not happen overnight and it won't go away overnight. Just yesterday I heard that a major employer in this area is laying off 1000 employees, where will these people go to work making anywhere close to what they were making with the benefits they have I don't know.

Will they be able to pay their mortgages? Probably not unless they find a job that is equal to what they are losing and to my knowledge most of the employers are only hiring part time " temporary" workers, no benefits, no overtime and no job security. As bad as it is for real estate we stand to make money from this crisis selling short sale and foreclosure properties. The VIPS are buyers with the excellent credit history, stable jobs, money down, no home to sell and the patience of Job. Who are the agents who will weather this storm? The ones who are willing to do business a new way & re-educate themselves. Many agents who would have never dreamed of taking a Foreclosure listing will change their ways or be left behind. Agents who are not detail oriented will be attentive to the slightest detail or will be quickly out of business when faced with selling Short Sale

. Attorneys will be our buyers and sellers best friends. Buyers of Short Sales will have to be prepared to spend money up front, putting up earnest money deposits, having a home inspection done prior to lender approval,

prepared to buy "as is" in most cases, hiring an attorney, and other professionals with no guarantee of a closing. The lenders have to fine tune the Short Sale process so that the process runs smoothly in order to get these homes off the market and into new homeowners hands sooner rather than later. Short Sales make buying a Foreclosure a walk in the park but we're survivors we'll get this thing straightened out and life will go on.

Sally Morris Greenwood Realty
Greenwood SC
www.realestategreenwoodsc.com

Foreclosure/Short Sale Specialist
Specializing in Lake Greenwood Vacation & Second Homes