Who would of thought 5 years ago when we first started dealing with short sales and foreclosures that not only would they still be a part of our market but the largest part. For the first time in who knows when (now I know someone if going to respond "I've been a Realtor for 40 years and you should have seen the market in the 70's) we are selling more short sales and bank owned homes than conventional sales. My listing inventory usually sits between 40 and 70 homes and until just recently only 20% of those have been short sales. Today, I have 51 listings with about 40% of those short sales so the trend continues and quite honestly it doesn't matter to me. This is the market and this is what we are going to be dealing with for probably the next 3 to 5 years so as much as I would like to stay conventional, if ( oops, when) I am going to hit my goals, I better get good at Short Sales> So, here are a few questions for those of you that are light years ahead of me in this department:
1. Who negotiates (facilitates, or whatever politically correct word we use today) your short sales?
2. Is the bank paying them to negotiate or whatever you call it?
3. Is working with an investor with an option contract a good idea or no and why?
4. Which banks are the easiest to work with, hardest to work with and "never mind, run the other way"
5. What didn't I ask that I should have.
OK, So I would love some help from all you experts.
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