As promised, there has been a DRAMATIC SHIFT in Big Bank short sale approvals!
Harris Real Estate University students (and future students) I have a simple question for you…
….what are YOU DOING NOW to take advantage of the changes happening now for short sales?
In 2012 the demand for agents who know how to actually list and sell short sales is going to be insane. I have NO DOUBT that the banks are going to do everything they can to get as many short sales through to avoid foreclosures. Why the change in policy..or at least why are banks now wanting to push for more short sale closings?
Simple, the lose less money. Before the banks were doing and internal analysis to determine if they would lose less money doing a short sale vs a foreclosure. Up until about 6 months ago the banks were favoring foreclosures because they thought the real estate depreciation was leveling off. Were they every wrong!
If you read this blog daily, you know that most real estate economists are predicting home values to drop as much as another 15%. (Note: KNOW YOUR MARKET…you may live in an area where homes won’t lose value and may be gaining in value). Now that the banks are anticipating additional depreciation they know that they will lose less money if they home is sold now…as in right now.
Bottom line, 2012 is FINALLY the year of the short sale.
Join us for this weeks Exclusive Bank Insider Short Sale training event:
AGENT ALERT: New Secret 2012 Big Banks Short Sale Programs Leaked. Free Training Event THIS WEEK.
Here is an article from Bloomberg: