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The Year of the Short Sale

By
Education & Training with Foreclosure.com

Recently, I was asked to prepare a presentation for the annual networking event of a major real estate brand.

This group typically does not deal with distressed real estate. So in preparing the presentation, I went to the field of agents to do some research.

What found is that if you are not including distressed real estate listings or assisting buyers with their offers on "shorts or banks" then you are missing a great opportunity.

Last year, many termed the year as the year of the modification with the Making Home Affordable Plan (HAMP). This year is being tagged as the "Year of the Short Sale."

With the new Home Affordable Foreclosure Alternatives (HAFA) program being released on April 5, 2010, the opportunity for agents to participate and be successful with short sales hopefully will increase significantly.

The 40-something page document (if you haven't read it), is enlightening and offers some very positive solutions to the long process of the "short."

We recently put on a Webinar for 100s of agents that reviewed the HAFA guidelines in great detail.

You can check it out here: http://ffs.cc/a/v18uqe

It's important that you capitalize on this trend and all others as you plan out your strategy to increase your sales from last year. Take a page out of "Who Moved My Cheese" and move with the cheese to where the opportunities exist.

Show All Comments Sort:
Linu Abraham
Rockland county Real Estate LLC - Nanuet, NY
ABR, SFR

Linda,

Thanks for the heads up. I will check it up.

Mar 19, 2010 02:49 AM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Linda, It has been said already but deserves to be repeated, if you are not doing short sales or foreclosures you are not doing real estate...to its fullest potential.

Mar 19, 2010 03:01 AM
Robert Rauf
CMG Home Loans - Toms River, NJ

Linda, It is also important to not shy away from these properties, the last thing any of us need is a boarded up home in our farm areas!  Yes they may require a little more effort, but that is better than the alternative!

Mar 19, 2010 03:05 AM