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23 Comments on Two weeks can be a long time, imagine if the banks would let the market grow
What great analogy. Foreclosures may be weeds, but the right buyer can come along and make their dreams of homeownership come true. Just like the little girl wishing on the dandelion.
Well said, Todd and great photos! My sympathy goes out to all you agents who have to rely on the Corporate bottleneck to get something done.
Todd ~ great, creative analogy and I love the photo. Just imagine what the world look like if short sales, truly became shorter!
Todd, love your photos and wouldn't it be great if the banks got on board and helped make the short sales short!
Todd, that's a great analogy, we would all be better if they did. Hope you and your family had a great Easter.
Todd, the foreclosures move quickly once they are on the market, but I look around and see houses sitting for months after the foreclosure. I guess they just can't get to them fast enough. Now as for short sales...
Sharon
And then two weeks later they become a billion other dandylions. lol Unfortunately, not all the fertilizer in the world will make the banks move faster.
Todd ~ perhaps we need to blow a little harder on that dandelion to make that wish come true :)
Then everyone gets what they want. The sellers out from under a mortgage they can't pay, the buyer a new home and the lender out of a bad debt.
I am hoping this comes to pass. It is still a stressful time for buyers and sellers.
Imagine if they would. They seem to be one of the biggest obstacles to things these days.
And there is very little accountability even though the people bailed them out.
Imagine.
I wonder every if the bank's logic-defying delays are a deliberate strategy or just corporate inefficiency.
Todd,
Thanks for reminding us that one man's weed can be another's wish come true!
Todd, great pictures! Dave #16 makes an interesting point: deliberate strategy or corporate inefficiency. I do wonder...
NIce photos. It could be a deliberate strategy--about a year ago I wrote a post about that and most of the commenters said that the banks were too stupid to have deliberate strategies.
We may be in the same business....but we are not on the same page...Banks are the problem not the solution. All they have to do is listen to agents more than they do and stop running us around and their efficiency and results would pick up by 80%...thank you Todd
Short sales are the key to this whole real estate market, and the economy for that matter. If the banks would streamline the short sale process, get approvals within a 30 day time frame, we would see the whole market AND the economy take off. Real estate/home purchases have such far reaching influence on the economy. No other aspect of the economy does. Think about it, when people buy a home they usually do SOME type of renovating. Or they buy new furniture, new fixtures, etc. And that trickles out to the economy which feeds other busineses which requires them to hire more people who then have money to spend/save which stimulates the economy further which then circulates back around to the real estate market. I just don't understand why the banks can't seem to see this. Good post Todd and best of luck to you.
I just got home from a four hour class about short sales and REOs -- How to minimize your risks. It sounds like things aren't going to be changing soon. We have new forms to give our buyers and sellers to help them understand what they are getting into. The mantra was 'advise them the call their attorney' and I agree, but my question is how many people who are selling or buying short sale property can afford an attorney?
Todd, If we would have had the sense to "Let the forrest burn" when we had the chance we would be in a better position today. From 2000-2007 1/2 we lived in a fairy tale land where everyone could own a home and it didnt matter if you could pay for it. That storybook is over, reality, albeit too late is setting in. love your posts, thanks.
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