I don't know about you, but I have had a plethora of homeowners recently contact me and want to do a short sale with their property. While short sales can be a life saving option for the right client, most homeowners who are familiar with the term don't fully understand its full ramifications.

A short sale is intended for homeowners who are in financial distress and/or where the property may fall into foreclosure. Why is it that some agents continue to take listings and price them as a short sale, when the motivating factors for the seller are things like, "I want to move out of the area/state", "I want to downsize", "I want a single story", etc? Just say NO! If your client is in financial hardship (and can prove it - which most banks will require) then the short sale may be the way to go.

It's no wonder those of us with legitimate short sales are having trouble getting approval from the lien holders. The banks are so busy trying to sort through all the offers on properties that are not genuine short sales.