Hello Everyone,

Spokane Wa Real Estate Expert I will make this brief, I was talking with an investor the other day and was explaining that when the government starts buying up the risky loans this is going to sharply affect the short sale market. As a matter of fact, my guess is they will both hold them and then distribute them through HUD auction to the public which will go owner occupied first.

The government does volume

This means all the investors swooping in and talking to the bank to get a discount, will be shut out as the banks sell large lots off to the government. No more one at a time deals. This means all the investors who thought they would make a lifelong living at short sales and we'll buy your homes signs better enjoy it while it lasts because these are the last days.

 

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4 Comments on The End of Short Sales

OCT
25
2008
856,893 Points 68 Featured Posts Outside Blog

I'm already seeing signs of the banks not working with even owner occupied buyers trying to buy these homes. I have two listed and the banks are just dragging their feet hoping for the government to swoop in and help them. I think the government would be stupid to do this, but hey that is why I'm not a politician. (I'm smarter than that)

Todd Clark, Helping Families Home - www.IFoundYourNewHome.com

6:57am • #1
DEC
28

Spokane Real Estate Expert - Ross Quintana Well for each bad side there is an upside. If the Government prices them well and offers them to owner occupieds it would take a little from te investors and stimulate homeownership in a way that wasn't fake like the freebie loans

12:24pm • #2
DEC
31
171,470 Points Outside Blog

It would be nice if someone would take them off the hands of the banks.  VA and HUD seem to do a good job of selling.

10:20am • #3
JAN
01

It might all wok out for the best. I also think it is time for HUD to drop the owner occupied priority and just get the best price, especially on UI property, for US taxpayers footing the bill. Most of the time retail OO buyers can't get qualified for UI anyway... yet retail buyers put in bids that end up clogging up the disposal process.

8:18pm • #4

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Spokane Real Estate - Ross Quintana

Spokane, WA

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