The question was:
There are a lot of short sales on the market in some Houston communities these days, but do you think the average buyer is patient enough to wait through the short sale process to buy one?
It depends on the posture of the buyer:
The fear of the unknown is for some more overwhelming than the patience needed to wait for a good deal. Buying a property where a buyer might have to accept defects in the property, have no closing costs paid by the seller, no home warranties and no miscellaneous fees normally negotiated between buyers and sellers, are all items a buyer might not be willing to accept rather than the patience needed to close a short sale.
My experience has been that patience is relative. Most buyers who have the patience, funds and who want a home for a good value are not willing to take on the added issues associated with a short sale. Normally buyers don’t have the patience to wait months and months to close on their new home unless they are financially handicapped and need to buy a home for less than market value. The perfect short sale buyer is one who has no time constraints and is willing to be flexible in negotiaitons!