I wished to God it was different. Do you know how hard it is to find a comparable for a home that was not sold as a distressed property? My search recently found 1 out of 21.
I will be so glad to have this market pass.....as will many other realtors I have spoken with.
When I work with a buyer it is not my role to rule out or push short sales, instead I educate my clients regarding the pros and cons of each approach.
I understand your point regarding short sales, unfortunately the market is saturated with them. Until the market stabilizes and lenders and homeowners work on resolving this matter~somehow~the short sale inventory will continue. Many mls board office require agents to fully disclose if it is a short sale, foreclosure, or REO, bank owned property. I know when I either list or sell a forclosure, or some refer as distressed properties, there are necessary documents that are needed to be filled out. Hopefully for all involved the market conditions will stabilize.
People will look for bargains regardless of what we tell them. Bank Owned are actually better bargains than short sales... that's why we push for them.
I do know how hard it is. I have lost alot of equity value in my beautiful home because of a distress sale in my neighborhood. I was not part of the unfortuniate who bought high or in the group who borrowed against most of their equity for CASH and are now bailing. I am effected because the odds of my regular listed home selling are low and even though I want to sell my house to move away, I will rent it out and my home will continue to loose its value.
Donna thank you for this information.
We agents explain the option when buyers are under water and have to sell. I asked the second question because your question was not clear. Perhaps if you had explained what you were saying, that you think realtors are ADVERTISING short sales first, I would have known. I don't see any reference to realtor websites or advertising, your question asks about our EMPHASIS on short sales which seemed to me to mean we are promoting them to sellers. As I said, I don't see it in our advertising. Perhaps you see it more in Florida because you have so many more?
I am saying almost every time I go to a Real Estate Company web site the first thing I see is a either a reference to short sell experts or foreclosure listings are FIRST. You then have to scroll down to look for regular listings.
All property being equal then why not? I am asking. "Why not make short sell/foreclosure/bankowner listing secondary.
I have some experience in web site development and when we have meetings to determine first imagery, everyone gives there input as to how they want to present what is most important to their company. The first image and/or wording that loads is the first impression and is again, the message of importance to anyone who views a web site. Is called, Advertising Sales Message.
Adam, I am not saying Realtors determine and/or influence sellers to go short sell, that is actually ridiculous and a little dramatic. I am simply asking why not put more advertising emphasis on Good Old Fashion Regular Listings. What is wrong with that? I did not say short sales are easy, my question has nothing to do with that.
Again, the only professional answer is from Mr. Wilson. and I do understand. The condition of the market is a reality. I am only saying that Realtors and their firms have the power to switch advertising emphasis.