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Sarah Goulart Nathe's Blog

By Sarah Goulart Nathe | Agent in Bourne, MA

Are Short Sales Here To Say?


http://www.housingwire.com/2011/07/21/only-49-of-homeowners-surveyed-say-home-worth-more-than-mortgage

While this is an extremely small sampling, it does seem that for those who need to sell their home, there will still be a continuation of a larger number of short-sales. 

What is your take on this?  Are you working with a lot of short sales right now?  Do you see becoming Short Sale Certified or a Loss Mitigation Specialist worthwhile?

Comments

By Diane Balsara,  Sat Oct 22 2011, 22:25
I've worked foreclosures for the past three years and closed 70+ properties so far this year. My inventory has gone from 60 to less than 30 listings. I think more banks are realizing that foreclosure is expensive and takes a lot of time and are fine tuning their short sale process. REO's are a lot of work, short sales are a lot of work as well, but, you do not have monthly status reports, monthly BPO's and are expected to clear code liens, get bids and over see repairs and are "graded" every quarter. While I appreciate the work many banks are dropping their commissions ot 2% on the listing end and it's just not getting worth it!! Yes, go for a designation on the short sales. I just completed my CDPE and have another than I am obtaining and hope to close my first listing short sale this month!! I get paid almost twice as much from my broker and am spending half the time. Not to mention it feels GOOD to have helped the homeowner out of a predicament.

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