Great 2010!

By
Real Estate Agent with ADL Sunshine Realty

Wishing everyone a great 2010!  If you specialize in short sales or foreclosures it looks like another good year unfortunately.  According to several sources, banks have been holding back on foreclosures because they are trying to force the price of housing to go up.  They can only do this for so long and will have to turn them loose.  Also, ARM's will be readjusting here soon which will push more people over the edge to be looking for short sales. 

I specialize in short sales in the Albuquerque, NM area and there is still plenty of business out there.  Banks are no easier to work with except they have stopped cutting realtor's commissions.  I have found it takes 6 to 8 months to get them closed.  If backlog is the problem, then I don't see it changing anytime soon. 

My one wish for the new year is that fellow realtors educate themselves about short sales.  Sometimes I am not sure who is the worse to deal with, buyer's agents or the banks.  They feel like they are doing something for their buyers by calling every week to see what is new.  I am thinking about setting a virtual receptionist and give them the update and all realtors call that number to get info.  I'm tired of answering questions like "Can I call the bank, maybe they will move faster because I have such a good deal for them" - get EDUCATED.  Sorry for the scream, it is just frustrating.

 

Comments (2)

Ed Newman
Alamo Infrared, LLC - Midvale, UT

We hope you had a wonderful Christmas and we're wishing you a full and prosperous 2010

Jan 04, 2010 01:10 AM
Diana Lewis
ADL Sunshine Realty - Albuquerque, NM

Thank you Ed for the kind words and the best to you as well.

Jan 08, 2010 12:51 AM