People often don’t pay attention to warnings. That’s because sometimes we look at them in jest, like Lost in Space: Danger, Will Robinson. I can advise sellers that the price of their short sale is too low, but they ultimately set the price, not me. I can also tell buyer’s agents that they need to pull the comparable sales, but that advice often falls on deaf ears.
As a result, sometimes I can end up with a short sale listing priced way too low to attract any type of decent offer. Agents who don’t work in short sales don’t understand that
Working with short salesCalifornia Short Sale sellers pay attention in the upcoming days as California SB 931 is closer to becoming a reality! When Governor Schwarzenegger signs California SB 931, Californians will rejoice! This should make California Short Sale sellers breathe a little easier. California SB 931 will ban deficiency judgements for California short sale sellers with a first mortgage. It has now passed both the Assembly and the Senate and is simply awaiting Governor Schwarzenegger’s signature.
According to AroundTheCapitol.com
Contingent on Waiting
Aug 25
I regularly publish indicators and trends at my website (www.JayEmerson.com) and try to offer a no-nonsense interpretation of the local real estate market.
As a scarred short sale warrior across our 3 counties, I can tell you that the national numbers being touted (only 3.8 million sold, annualized) is not considering those homes between worlds; not quite Pending and not available for buyer competition. These homes are handcuffed in a world called “Active Short Contingent”. Naturally, a SOLD figure would not consider these as they are not even Pending. But that’s where the hose is kinked. Short selling lenders are providing
Contingent on Waiting
Aug 25
I regularly publish indicators and trends at my website (www.JayEmerson.com) and try to offer a no-nonsense interpretation of the local real estate market.
As a scarred short sale warrior across our 3 counties, I can tell you that the national numbers being touted (only 3.8 million sold, annualized) is not considering those homes between worlds; not quite Pending and not available for buyer competition. These homes are handcuffed in a world called “Active Short Contingent”. Naturally, a SOLD figure would not consider these as they are not even Pending. But that’s where the hose is kinked. Short selling lenders are providing