Foreclosures and short sales and buyers....oh my!

By
Real Estate Agent with Treasure Coast Realty GMAC Real Estate

I am still struggling to find clients that want to actually "buy" a home. 

I get questions about interest rates, credit scores and loans; but the last time I checked, I was a real estate agent, not a mortgage broker....wait, let me change my hat.  The only answers that I have for these folks is that they should call their bank, or a mortgage lender, see what they can pre-qualify for, then come talk to me.  With the number of foreclosures and short sale properties on the market, it would be easier to "swing a deal" when you know how much the buyer can afford.   But, alas....the cash flow of investors is hovering over us here in South Florida like a black cloud.  They come in and scoop up these properties faster than we can say "sold".

I hope that in the next 6 to 12 months that the foreclosures will run out and that those fortunate enough to not have lost their home to the foreclosure monster will resurface, need an agent, and real estate will be "real" again!

 

Comments (2)

Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Michelle--I hope that happens for you, the other real estate agents and the homeowners in Florida and other states who have been so negatively affected by the downturn in the economy.  It is nice to see you back here at AR.

Jul 30, 2009 12:52 PM
James "Jim" Vitale
Mighty Realty - Apopka, FL

I think you have to be both a real estate agent and a mortgage broker.  When working with a buyer I find it necessary to find out the buyer's mortgage needs and place them with the appropriate lender.  In doing so you build confidence and a better relationship with the client.

Aug 03, 2009 08:59 AM