There’s no getting around it – the number of good deals headed our way is drying up. The “shadow inventory” is shrinking no matter how you look at it. What this means for the future is debatable, but it’s a solid fact at this point.
Currently there are 1.9 million homes in danger of foreclosure. These are worth around $293 billion and should be used up in the next 4 months. This number is the lowest since August 2008 and is a solid sign of the housing recovery.
But as we’ve wondered all along, what will that mean for the short sale business? Are we going to have less hope of making a killer deal? Is the housing market going to dry up?
The answer is a resounding NO! In good markets and bad the short sale industry has proven its resilience. It’s helped bring the housing market back from disaster and has maintained a perfect balance even during bull markets. How do you make sure the right people find the right homes? How do you make sure a string of layoffs in big industry don’t throw the entire system out of whack?
Short sales. It’s as simple as that.
I can’t stress this enough. If you pick up the tools I offer and make an effort in the industry, you’ve got a great chance at having more business than you can handle. (When that happens I usually head on vacation and automate the work, but to each his own.)
Give me a call if you think you have what it takes. I’m waiting.