The Big Elephant in the Room many don't want to Acknowledge

Reblogger Jon Quist
Real Estate Agent with REALTY EXECUTIVES TUCSON ELITE DRE# SA113961000

This deserves a reblog simply because of the subject matter.

When you read all the many comments you will see there are MANY MANY diverse opinions as to short sales. There seems to be some opinions as to why the banks don't speed things up. I think I know why. They like foreclosures better on their books as a "toxic asset" and no such "designation" for a short sale exists. A short sale just takes place because the particular agent at the bank felt like doing it. Or so it seems.

Remember we are still dealing with banks, and in almost every case, these are the very same people who helped screw (nice word used here) up our market.

But that's just me.

Original content by Michael & Stacy Spickes

If Short Sales will reportedly be a large part of our market in 2011, what do you think is the general attitude toward working them across America?  There are so many mixed feelings from agents and brokers about working them, yet hundreds of thousands of homeowners continue to face foreclosure.  Many accept that they're a part of the market and will be for some time.  Many others continue to close their eyes and hope these market conditions will pass.  As we quickly approach 2011, what is the general consensus in your area and how do YOU feel about Short Sales?

** Read Post #33

 

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Rainer
77,497
Jason M. Keith
Caliber Home Loans - Parker, CO
Equal Housing Lender

Thank you for this Re-blog, it does need to get out there.  I will check the original post as well.

Dec 30, 2010 04:51 AM #1
Rainer
12,538
Kevin Quarterley
Starboard Financial - Gold Canyon, AZ

Jon,

There is so much going on behind the scenes with modifications, short sales, foreclosures etc. it makes your head spin. Banks are a business, and their first priority is themselves, not the homeowner, as they have proven with the lack of modifications offered, etc. Reality is that the investor that actually hold the loan makes the decisions, not the servicer ie; BofA. As always, the banks are doing what the are allowed to do. It seems that they continue to make their own rules.

Thanks for the post

Dec 30, 2010 05:33 AM #2
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Rainmaker
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Jon Quist

Tucson's BUYERS ONLY Realtor since 1996
Moving to Tucson? Call me.
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