Why Short Sales are Taking Over
I have been hammering this point home for years and it’s so refreshing to finally see the impact it’s making. Short sales are conquering the industry right now and my friends, rivals, proteges, and everyone in between are making a killing. It’s laughable how much of a bad rap short sales got up until recently.
But thanks to the housing crisis, short sales are riding high front and center saving the economy. The government has come around and banks are getting on board. Processing time is down over 20% since last year and the other changes to the industry have helped things considerably.
As proof: Nearly one quarter (1 million short sales out of 4.6 million homes sold) of homes sold were short sales. It’s insane how people used to think guilty thoughts about short sales. Now, you’ve gotta feel pretty good when the bank falls all over itself to accept your short sale offer.
Some of the issues people are still facing: second liens, buyers not having their paperwork in order, and lengthy certification programs.
But none of those issues seem to be slowing things down. I’m strongly encouraging everyone I know to drop the silly toys and come play ball in a real game.
Are you in? Are you having trouble with short sales? Any doubts? Just leave a comment so we can clear the air.
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