"Short Sales - MUST READ!"

Everyone hears about "Short Sales" these days... and probably knows a little bit about them. Sort of like me, in that I know a little bit about cars.  Engine?  Check!  Trunk?  Check!  Radio Controls?  Check!  But beyond jumping a battery, changing a fuse, or inflating the tires... I'm not much good.  The other day a lady called me about a listing I have in Flagler Beach, FL.  I said, "It's a short sale.  Do you know anything about how they work?"  Her answer was pretty good.  "Of course I know how they work," she said, "I went to real estate school!"  Now I spent 20 years in the Army and had a little vacation in Viet Nam in 1968-69.  Her response was sort of like, "Of course I know what combat is like.  I went to Basic Training!"


Suffice it to say that in today's real estate market, Short Sales = Combat:

• In the US today, 1 in 7 are not making their mortgage payments and are in default.  Closer to 30% have missed at least one payment or are experiencing difficulty.
• The US unemployment rate is near 10%.  The "real rate" in Palm Coast, FL... Flagler Beach, and Flagler County, FL is "over 20%."
• The number of short sales has tripled since 2008.  Nearly 60% of single family homes closed in the past 1-2 years in Palm Coast, FL, has been a short sale.
• The national S&P "Case-Shiller Index" predicts another 6 - 8,000,000 foreclosures before the end of 2012... and Florida will see more than our fair share of these!

As a CDPE (Certified Distressed Property Expert), we are uniquely equipped and trained to get you through the complex process of a short sale - AND TO HELP YOU AVOID BEING FORECLOSED UPON!!!  Now, it's true, any licensed agent can "take your listing."  Yet you want to be very careful here.  Ask them to explain the process - in detail.

Ask them about:

• The ten or more required forms and authorizations needed to get a short sale off the ground.
• The five-step pricing strategy that will prove effective for the market... and the bank.
• The back door information needed for the file... for when negotiations start with the bank's loss mitigation rep.
• The ways to compile and present a professional "short sale package" to the bank.
• The way to deal with needed repairs.
• The ways to deal with Title issues, IRS & Federal tax liens, and other property related liens not recorded as mortgages.
• The ways to reduce their legal fears and effectively handle the question, "Do we need a lawyer?"
• The ways to effectively market their short sale listing.
• The ways to help them move forward upon completion of their short sale closing.

 There's a lot to it.  make sure you hire the right agent to maximize your chances for a successful short sale.  If you are in need, call me at 386-931-1987.  As a CDPE with 25 years experience... and as a Harvard Certified real estate mediator, I can help you...