Are short Sales Underused in Laclede County MO?

I personally believe that many struggling homeowners in the Laclede County, MO area are not tapping into the option of a short sale or even loan modification.  In the Lebanon, MO mls there are currently over 430 residential listings and of those only 7 are short sales.  Statistics tell us that one in six are behind in their home loan payment.  If we were to say that one in twenty locally, that are currently listed, are in this situation, that would be over 20 homeowners who are getting foreclosure notices. That means that thirteen homes families will go into foreclosure without even appying for the help that is out there. 

Is this a real estate profession problem?  YES!  Is it a public relations problem?  YES!   Is this a community problem?  YES!  Is this my problem?  YES!  How do I fix this problem?   I am starting now to get the information out there to the home owners who need it by posting blogs, fliers, sending out emails to my sphere and reminding my current and past clients that this is what I offer. 

Short Sales and loan modification can help the people of Laclede County, MO!  I have closed two short sales in the last six months and both have been with the deficiency clause removed.  I am excited about what being a CDPE (Certified Distressed Property Expert) offers me in continual training and information about this changing avenue for struggling home owners. 

I am in this industry to be a servant to the people.  Yes, I get paid, but, always my best reward is helping those who need it.  Sometimes that is finding the perfect first home, other times it is down sizing for the aging couple or widow and sometimes it is fiding the dream home. And in these tough economic times, sometimes it is listening to a person who has, for one reason or another, found themselves in a situation that they never expected to be in- the possibility of losing their home.  In this case it is my job to listen, evaluate the situation and give options.  One of which might be a short sale but it could even mean loan modification or a simple sale if enough equity exists.  It is our job to help explore these options.

check out these short sale listings;

www.1301woodhilllebanonmo.info    

www.19125hazellebanonmo.info

www.19440crabapplelebanonmo.info

Yes! Today is the day I will begin blogging.  And so with a craving for McDonald's sugar free, fat free vanilla latte, I head out to take my daughter to work and drive through to get my latte.  Then when carrying in my latte and bacon, egg, cheese biscuit, my latte in slow motion goes flying through the air then splat on the floor.  What a mess!  Well, what are ya going to do?  Clean it up and have hot spiced apple tea instead. What's going on in the Lebanon, MO residential market?  We're cleaning it up.   There are currently 432 listings with an average of 18 selling a month over the last five months.  That is painful as a Realtor and as a seller.  But as a buyer, the selection is great and the prices and interest rates are hard to beat as well.

As an agent with my CDPE certificate (certified distressed property expert) I have been able to help sellers who were facing foreclosure avoid that and use a short sale as way of moving on with less of a hit to their credit and, in these cases, no fear of a future deficiency judgment.  That is a great feeling and one I would like to repeat.  Locally, there seems to be a fear of these short sales and while certainly understand the fear of a lengthy closing or worse something falling apart.  I feel the changes that the government has made in governing the process length is helping.  Contact me for a list of short sales listed by me and other agents in our area - it can be a great deal for the buyer and seller.

Land prices are falling too.  I used to believe that the land was sacred and that the price of land would stay somewhat steady.  Not any more.  We are seeing listings of land with the price per acre being under $1,000 an acre.  We used to see a standard of $2,000 and acre around here more or less depending on the amount of ammenities available or use value of the land. 

Buyers in this market tend to think that the best deal is just around the corner. Ok, it is possible that after you write on the dotted line, a similar home will come on the market priced $10,000 less.  But, if you know what you want when you start shopping, know your price range, and shop for those features (with your informed Realtor) be confident when you make an offer that you are getting what you want and don't look back (on line or around the block). 

The key to making it in this economy is to just keep going!  Make adjustments. Blog if you have to!