I'm starting to see a few articles in the news lately that short sales are starting to bottom out. Many of our optimistic Inner Circle and Elite REALTORS® have suggested the same thing. My response? "Are you serious? In Michigan?"
I just searched both West Michigan MLS systems and found 1,166 active short sale listings. What's that as a percentage of active listings? It's a little over 11%. To me, the best indication of the trend for short sales is the default rate. According to this recent article (where I got the following graph)
Michigan continues to be hit the hardest. RealtyTrac® is reporting Michigan at #8 in the country.
What does this mean for you as a REALTOR®. If you're going to continue to survive in the next 24 months in this business, it's time you learned how to effectively work short sales or delegate it to someone that has already figured it out. The sooner you do, the better. Why? Because the sellers that you work with and sell their short sale houses will be your best word of month advertisement. The testimonials we see at closings are amazing and will lead to significantly more business for you for years to come.
Are you interested in becoming a short sale magnet? Give me a call - I'm happy to help.
Dedicated To Your Success,
Short Sale Negotiations: you earn FULL COMMISSION and no fee to buyer/seller - www.GreatLakesShortSales.com