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Why short sales might be your best option...

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Real Estate Agent with Keller Williams Eagle Realty

I wanted to add one thought to yesterday's blog about short sales.

Even though it seems like there are a lot of negative factors that need to be considered when getting into a short sale transaction, I do believe that they might be your BEST OPTION when trying to score a great deal on a South Beach condo.

You might think I'm out of my mind to tell you this, after stating that the short sale process is generally long, requires a lot of patience and after all is said and done, there is no guarantee that your offer will actually go through.

Well, while that is all true, there is one big advantage in that truth. Many buyers (as well as their agents), do not want to deal with short sales for these exact reasons. That means that there are plenty of potentially great deals out there, that few people are considering. NO or LITTLE COMPETITION is your big advantage here. Something that can't be said for well priced foreclosures.

If you need a place to start your search your Miami Beach condos, you can use the property search on my website.

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Richard & Janet OBrian
Home Based Realty - Palmdale, CA
Listing Specialist Palmdale, Lancaster CA

Janet and I have the same "short sale" fear from agents and buyers a year ago.  We were in the a REO market then and the banks were as you know foreclosing on all of the subprime borrowers.  We have REO listing agents in our office with over 300 listings.  Well that market is gone for the most part and short sales are here and are going to be the next wave. That is what we are hearing here and with HAFA in the works now is the time to jump into the short sale market.   Is sounds like you might be one of the few in your area to get in on the bottom floor...  

Good luck, also check out NAR new short sale designation SFR...

Feb 17, 2010 09:12 AM