25 days

| Sunday, July 3rd, 2011 | 1 Comment »

Forgive me; it’s been 25 days since my last blog post. Where did the time go? Well if I had to blame it on something I’m going to go with baseball games. And that’s not a complaint! I’ve enjoyed every {long} inning of my 9 year old’s baseball games and countless practices! So now here I sit racking my brain trying to think of a blog post and have been thinking so intently that I just noticed I was starting the second episode of The Joy of Fishing.

I decided to blog about something I’ve been giving a lot of thought to and something that is not based on any statistics or research, just my own hard work in the trenches. And if you’re burnt out on the topic of short sales I will apologize now. It’s just something I face a lot in my biz.

So here’s my groundbreaking statement: they are getting better. Banks are not quite well-oiled machines when it comes to short sales but I do think there is definitely more of a process in place. Submitting a short sale offer in the past was like throwing it off the top of the Space Needle; it might eventually come down or it might just get caught in the wind. Now when you talk to certain banks they actually give you a time line on when you might hear back. Imagine that! This isn’t always the case but its a huge step forward for mankind! And the “waiting for a response from the bank during a short sale” is almost always the most frustrating part. If buyers know they will be getting a response within a certain time frame, they are much more likely to hang in there. In the past, buyer’s would usually bail after about 2 months of not hearing anything.
Short sales are still challenging but I don’t feel like they are such a lost cause anymore. Yes, there is still a chance you will deal with a non-responsive bank or that the listing price is WAY off from the price the bank will actually accept but with each short sale banks are starting to figure it out. Also a good agent (I happen to know one!) will know what questions to ask to get a feel for whether or not a short sale is worth waiting for. So if you are a buyer that wants to make an offer on one or a seller that needs to be involved in one, give me a call. I’ll help you through it and hopefully keep your short sale from getting caught in the wind. And by the way, I’ve now moved on from The Joy of Fishing to The Best of Championship Bull Riding.

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One Comment

  1. Sheila says:

    Welcome back Cara in the House — Missed you! Love the look of the new blog!

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