Short sale. It seems to be the "buzz word" of 2008. On Active Rain, a seemingly large percentage of posts are dedicated to short sales, whether it be listing them, discussing them, or advertising someone's "expertise" in them. Until recently, short sales have been a little-known secret in the Real Estate community: few agents had heard about them, and even fewer had actually been involved in one. Now, all of a sudden, it seems like short sale "experts" are coming out of the woodwork, claiming years of experience and expertise. And, for a nominal fee, they'll teach you their "Million Dollar Secret" for short sale success. I'm sure you'll excuse me if I'm a little skeptical about these so-called "experts".
I realize that to some of you, I may look like yet another one of these short sale gurus, but let me assure you that I am one of the most qualified and experienced short sale experts. I closed my first short sale in 1980, before some of these self-titled "experts" were even born (I'm sorry if I come across as a little bitter, but it's these so-called "experts" that are ruining the good reputation of true short sale experts). Since then, I have dealt almost exclusively in short sales and other troubled real estate; real estate most agents would deem "too difficult" or "not worth the effort". When the real estate market is in a downturn, such as from 1980 to 1983, 1990 to 1999, or from 2005 to present, I deal exclusively in short sales.
Some of you may ask, "How have you been doing short sales for so long?" I have developed relationships over many years with all of my primary lead sources, so I have always had a direct pipeline to homeowners in financial distress, even during economic booms. Over the years, I and my team have also developed working relationships with every major lender loss mitigation department, so we know what they're looking for and how to get them to agree to the sale. As an investor myself, I feel that every document I could want is included in the "Option B" package that we at ForecloseHelp can provide agents willing to refer their short sale leads to us. Unlike some of these "experts," we charge no upfront fees, and we offer advice and information on short sales free of charge.
So, where did all these short sale "experts" come from? Are they simply a new breed of snake-oil salesmen, promising great returns but producing very little of value? When exactly did so many of them amass all these years of expertise when short sales have been a very small niche market for so long?
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