Is the market overcrowded with short-sale real estate agents?
I am being approached all the time by Nouveau Riche representatives wanting me to partner for the short-sale market they say is just exploding. I can see the value, but I don’t understand the risks. Specifically, how difficult is it to find the distressed homeowner, bank, and investor willing to go through with the deal? I appreciate a response from someone “in the know” who’s willing to straight-talk this one.
Statistically, foreclosures and short sales have engulfed the housing market as homeowners earnestly look for ways to assuage their own financial hardships. As jobs are lost and hours are curbed, many people at a loss and wonder if the right plan of action is to sell or surrender their home. The first thing to study is the distinctions between a foreclosure and a short sale, considering advantages and disadvantages for each.
The Operations of a Foreclosure
Surveys show that one in every 17 homes in America is currently facing foreclosure. Homeowners are facing a difficult time due to job loss, declining property values and the inability to sell their property. For homeowners facing foreclosure, the silver lining can be to convince their lenders to accept a short sale.