I just signed up with PartnerFirst, a nationwide Real Estate Network designed to serve homeowners & agents/brokers with Short Sales. I took their intensive online course on Short Sales and acquired their PSC (Pre-Foreclosure Specialist Certification). Whether you are agent or financially-stressed homeowner, I recommend you visit their website. PartnerFirst link: http://members.partnerfirst.org/
I also have been certified by Equator with their Platiinum Short Sale & REO Certification. I also have been certified by NABPOP ) National Association of Broker Price Opinion Professionals), Titanium Solutions, Distressed Sales University and Harris Real Estate University.
Why would I focus so much time and effort on this, you may ask?
Please consider these facts which essentially guarantee a steady flow of Short Sales & REOs for several years to come:
- Half of the 55 million mortgages nationwide are in some form of distress.
- There are roughly 11 Trillion in total loans.
- Three Trillion are in pools of investors.
- Three Trillion are in whole loans (1 owner owns entire loan & 1/2 -1.5 Trillion- are in distress).
- Whole Loans are the easiest ones to get Short Sales approved.
- Ben Bernanke, Chairman of the US Federal Reserve Board, recently stated in CBS's 60 Minutes that he expects unemployment rate to remain high for 4-5 years.
- Economists predict another drop in real estate prices in 2011. Forbes predicts a 20% loss in values while Moody's predicts 8%. Like politics, real estate prices are LOCAL. Different area will be hit differently.
- As underwater homeowners realize the economic advantage of renting vs having an unreonably high mortgage payment, more and more Short Sales will hit the market.