There are agents who spend a good deal of their time looking for ways to avoid short sales in the Prince William County (VA) area. Unfortunately in a market which has taken a significant hit on values you can choose to run from short sales or you can work with them and try for a positive outcome.
Today my short sale listing in Belmont Bay finally went to closing. it has been a long process and while we waited for the lender to work with us we went through two buyers. I had to pull the listing back from foreclosure twice which was exasperating, especially after we had short sale approval and a closing date.
Was it fun? No but it was educational and no matter how much you think you know about listing a property for sale, working with short sales are very different. In our current Prince William County market I'm not going to run away from short sales as they are everywhere. Will I ever consider myself a short sale expert? Each time I accept the challenge of a short sale the process is different, so the answer would be no.
Will I accept another opportunity to work with a family who needs assistance in getting their home sold with negative equity? The reward in knowing another family has been able to move forward and build a new future is worth the work it takes to get it done.
You're right - they are no fun at all. But they are a large part of the market of the moment.
Cindy, congratulations on making it through the arduous short sale process. No fun, but it's done. That's a good way to sum it up!
Syretta-they are here to stay for awhile. Learning to deal with them and the complications they present in a transaction is just part of how to survive in our current market.
Brian-as long as it ended up in the sold column that is all that matters in the end.
Cindy, short sales are a lot of work, especially for the listing agent. But this year, we've sold 3-4 a month. Patience brings successful closing! Congratulations!
Hi Cindy...You are right though. Every buyer and every seller needs our help no matter whether it is a short sale or not. They may not be easy but we have to ask ourselves, did we just sign up for the easy stuff.
Kate
Nope ...no fun and I wish two would be done :)
Like Kay said...patience is key for sure.
Kay-congratulations to you! Tracking is the biggest part of the keeping a short sale moving forward. This one could have easily gone to foreclosure if I hadn't been paying attention.
Kate-In our current market if we turn our backs on short sales then we could be short changing ourselves. Short sales are just another opportunity to learn.
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