Shortsales, Foreclosures, Deed-in-Lieu, Loan Modifications, HAMP, HARP, and a host of others industry terms have only recently become common vocabulary. Many of these terms have been around a long time, however they have become much more common because of current market conditions. The Real Estate Market of the last couple of years has been particularly volatile. Because of this, it is increasingly more difficult for home sellers and buyers to know all of their options and to choose the right one for their particular situation.
Because of the number of variables and volatile market conditions (which can vary drastically from state to state, city to city, and even neighborhood to neighborhood) it is imperative that consumers seek the advice of Real Estate Professionals who have current, recent, and relevant experience!
Ask your real estate professional how many transactions they have been involved in in the past 12, 6, 3 months! Most likely, conditions in your market have changed alot during that period and if your agent has not been active, you may want to seek another opinion from a more qualified professional. Also, consider the importance of dealing with an agent experienced in the type of property you are interested in. Just because an agent has sold some condos doesn't necessarily mean that they know what the single family market is doing.
It is more important now than ever to seek the advice of experienced and qualified professionals when making such an important decision as required in a real estate transaction.
Experience REALLY Counts in This Market!