Joe, once you decide the area in which you wish to purchase, find a Realtor that is knowledgable about that area. Don't limit yourself to Short Sales, though. There are lots of good deals out there right now, and sometimes you can do better on a regular purchase from a motivated seller than you can on a short sale.

Your Realtor can give you guidance on properties that may be available at favorable prices.

Good luck, Jim Miner

I would definately suggest you work with a Short Sale Specialist in your area.

There is no short sale master list if that is what you seek, the closest you can get to that is by searching for properties in the MLS. Most of the cheapest ones are short sales, not always but for the most part because the seller can care less how much it sells for as long as the bank approves the price and accepts the offer.

The best advice I can give is to call an agent you trust and begin searching with them side by side with an in office consultation.

If you'd like to search for possible short sales you can buy access to lis pendens lists which show people who are behind on their mortgage payments where the bank has began the foreclosure process by filing a lis pendens but these lists can be expensive.

Good Luck

Hi Joe,
Most short sales are listed in the local multiple listing service. However, I receive phone calls each and every day from homeowners who are thinking about selling their home short. Having a relationship with a Realtor who has short sale clients contacting him each day seems like the best resource. I have negotiated short sales in states outside of New Jersey as well. Let me know if I can be of assistance.

Regards,
Sal Poliandro
Short Sale Specialist
201-259-2187

Hi Joe,
As far as I am aware, there is no published list of short sales in Monmouth County (similar to the sheriff's list for foreclosures) but there are many properties which are advertised as short sales in the MLS. If you are interested in receiving these available listings please contact me and I'd be happy to keep you up to date on what comes on the market.
Thomas McCormack
Sales Associate
Resources Real Estate
112 E River Rd, Rumson NJ 07760
tom@thomasmccormack.com

I can help you with that if your looking in North Jersey, I would have to pull the records from the MLS and send them over to you.

Hi Joe. As stated by Karen - almost all short sales are listed with realtors. The banks actually prefer dealing with the agents as opposed to the sellers on short sales. If you are looking in Long Branch and/or South Jersey I suggest you work with a buyer's agent who can help you find short sales. If you are looking in North Jersey, please contact me and I can help you. Is there a particular reason you are looking for a short sale? Short sales are not always the best route to go. It is sometimes a long process especially if the bank has not yet approved a price range in which they will work out a deal and the houses may not always be in the best condition. You should keep all your options open. Good luck. If you have any questions, feel free to contact me.

Gina Chirico, Sales Associate
Prudential New Jersey Properties
Caldwell
973-228-1000 ext 132 (office)
973-715-1158 (cell)
GinaChirico@PruNewJersey.com

Most short sales are properties that are listing in the multiple list and are for sale through realtors. What is happening is that the mortgage that is owed is (or potentially is) greater than what the sellers expect to net in the current market. The bank needs to feel that the property was marketed properly and is being sold for market price - and the best way for that to happen is for it to be listed in the MLS. Most realtors should be able to do a search in their local MLS and give you properties that are being sold as a short sale. If you need any help finding someone good in your area, please email me and I'd be happy to give you some personal recommendations. Karen.Lampiasi@cbmoves.com