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Successfully Selling Short Sales - 2009

By
Real Estate Agent with RE/MAX Broker, RE/MAX 1999033519

 Holiday Greetings

Here in Active Rain, I’m finding tons of useful information and successfully closed short sale stories. Ladies and Gentlemen, I can't tell you how many times I personally backed away from showing short sales, until I realized that short sales could be the saving grace for sellers and excellent purchases for buyers.

The markets are flooded with foreclosures and the end doesn't seem to be in sight.  Lenders are waking up to the fact that short sales may cost less and save time, while improving the economy.  Short sales require that a realtor have the home on the market, thus "Short Sales Realtors" has become a necessity for selling real estate in 2009.

 

·        Wendy Rulnick recently wrote guidelines for HUD Short Sales Guidelines and Why You Should Call The Short Sale Lender Every 3 Days.  You can’t get enough information from Wendy.  

·        Bill Gassett wrote a very good post about Deed In Lieu of Foreclosure and Short Sales.  Great information that will help every seller facing foreclosure.  

·        George Tallabas just had a short sale approved in five days.  His article on Idaho Short Sale sets new record and a great Christmas gift is the greatest Christmas present ever.  

·        From RE/MAX International, I purchased Nancy Freeman’s training CD about Short Sales and REO”s.  Armed with all this information I closed a short sale in six weeks.

 

Short Sales can be the solution to many sellers in 2009 facing foreclosure.  With proper training and lots of patience, short sales could be a large percentage of your business in 2009.  Join me in helping train buyer's agents and inform the public of these great buys.  

  

 

 

 Selling Springfield Mo Short Sales

Kay Van Kampen is a local Realtor serving Springfield, Ozark, Nixa, Rogersville, Republic and surrounding areas in Missouri.  She is ready and available to help you with all your Springfield Mo real estate needs.  To contact her go to www.kayvankampen.com.

If you would like a free list of homes for sale in this area/neighborhood, would like more information aboutSpringfield, Ozark, Nixa, Rogersville, Republic, Willard and surrounding areas or would like to be the first to know about hot new listings before other buyers do, then give me a call at:  417.839.4534.

Comments (21)

Diane Aurit
LKN Realty, LLC - Mooresville, NC
Lake Norman Real Estate

Kay, thanks for pulling all of these together for us.  I haven't done a short sale yet in this down cycle but did them in the early 1990's.

Dec 22, 2008 02:36 AM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS

Kay - the "lots of patience" is the key in our market. We've written offers on about two dozen short sales this year, and only one went to closing - and it took 7 months from the offer. Most buyers aren't willing to wait that long.

Dec 22, 2008 10:35 AM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

James, every bank I've dealt with says in order to work the short sale, I have to send them documentation, including the listing agreement and employment agreement.

Diane, thank you.  Short sales can be successful.  I heard another agent complaining today about how long it's taking to complete a short sale they are involved in.

Sharon, some of these buyers need to know that it takes time to close short sales and patience.  Our short sales are closing much faster.  I stay on them at least 2-3 times a week.  Hope you have better results next time.

 

Dec 22, 2008 11:57 AM
Terry Miller
Miller Homes Group - Tyler, TX
Miller Homes Group and Tyler Apartment Locator

Great post and I will pass through to our Real Estate side the info. Love the photo on the profile page. Happy Holidays.

Terr Miller

Dec 22, 2008 04:21 PM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Hi Kay thanks for the mention of my post regarding short sales. I am curious why you made this post members only? This is good information for your readers and also would help the people you linked too:)

Dec 22, 2008 11:53 PM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Thanks Terry.  Have a very Merry Christmas too.

Dec 23, 2008 10:56 PM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Bill, I took your advice and changed the post to public.  I had tunnel vision.  Thanks for all your great posts this year.  I look forward to many more.

Dec 23, 2008 10:58 PM
Gene Allen
Fathom Realty - Cary, NC
Realty Consultant for Cary Real Estate

Thanks for the info.  I have read some of those posts but always good reminders.

Dec 25, 2008 04:23 AM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Thanks Gene, doesn't hurt to have refresher courses.  Have a great New Year!

Dec 26, 2008 08:44 AM
Debbie Summers
Charles Rutenberg Realty - New Smyrna Beach, FL

Kay - We've been contemplating getting into the short-sale arena... Great information to educate all!

Dec 27, 2008 02:28 AM
Tina Maraj
RE/MAX One - Fullerton, CA
Celebrating 30 Years of Real Estate Sales

Great encouragement Kay. I have often felt the same way. I guess for the new year I need to change my outlook on short sales.

Dec 27, 2008 03:07 AM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Debbie, getting into short sales may be well worth the time.  I anticipate a large number of foreclosures and short sales in our market this year.  May as well get as much education as we can....it may be better than owner occupied homes.

Dec 27, 2008 12:43 PM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Tina, once you seceed at your first short sale, you'll be happy you helped the seller save his credit.  Good luck in 2009.

Dec 27, 2008 12:44 PM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Kay, you are so right !  Short sales can be an excellent solution for sellers and a great opportunity for buyers.  Recently, we have had several successful short sale deals.  This past week we had 2 that just settled !  A ton of work but sooo worth it : )  Great post !  ~ Chris Somers

Jan 01, 2009 04:19 AM
Cathleen OnullHannigan
Keller Williams Realty - Cary, NC
Cary NC Homes Pro

Thank you for compiling this interesting information. Seems short sales are indeed the way of the present.

Jan 01, 2009 10:29 AM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate
Chris and Stephanie, congratulations on your short sales closings. You're so right about the amount of work that it takes, but we are helping save so many clients credit. I know it is better than foreclosure.
Jan 01, 2009 12:19 PM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Cathleen, short sales could easily be some realtors only means of income this year.  Stressful, hard working and time consuming, but we are hopefully helping clients that may someday buy a house again.

Jan 01, 2009 12:22 PM
Sal Poliandro - Helping People Win
RE/MAX Properties - Ridgewood, NJ
Broker Associate

Hi Kay,

    Here in North New Jersey, short sales and foreclosures are a significant portion of our business. Well said.

Jan 05, 2009 04:32 PM
Freddie Gonzales
WEM PACIFIC Investments, Inc. - Daly City, CA
CRS, GRI, RDCPro

Thanks for putting it together.

Feb 10, 2009 05:50 PM
Paul McDuell
Realty Benefit - Rancho Santa Margarita, CA

I just took my first short sale listing. I'm going to need all the help I can get. I really appreciate your post, thank you.

Paul McDuell

May 13, 2009 02:48 PM