Short sales- the term has come into common usage today. When I went with my team leader to the REALTOR on Beacon Hill Day, the subject was referred to several times throughout the day, although one representative claimed that he had never had one call from a constituent about the subject, even as he had heard frequently about the proposed transfer tax.

 You hear all sorts of things associated with short sales. I had read online in another agents' forum that some agents have seen 90% of short sales fall apart and revert to foreclosure. I haven't tracked numbers, but it does seem like a large number of these properties have the listings cancelled, and turn up listed as bank-owned- listed for less- later on.

 Short sales ARE a difficult sell. Some agents are leery about showing them to buyers, because of the typically long time period between offer and bank acceptance. Deferred maintenance on these properties can be an issue in a buyer's market, when every property needs to be the best quality in its price range to attract buyers.

 Our team has had success with these properties, although there is no way that I am aware of to eliminate the lengthy process of bank approval. We work with an attorney who takes care of the legal aspects and makes sure sellers are getting solid legal advice; I have seen other agents who handle the process entirely on their own.

What has worked best for you?