WOW! Short Sales, Foreclosures, deed's in Leiu of, auctions, land contracts.
The market is definitely different today then it was just a few short years ago. There was a time when I would bet that most people didn't know what a "Short Sale" was. I use to make a joke that "You might be a Red Neck Realtor if...You thought a Short Sale is when a midget buys a home." I know not to fair to midgets. Sorry about that. I have a lot of "You might be a Red Neck Realtor if" jokes.
However today some of those jokes aren't quite as funny as they use to be.
In my market nearly 30% of all real estate saled are foreclosure sales. 30% and maybe more are Cash purchases. I personally have three or four "Short Sale" listings right now. .
Please don't get me started on the low appraisal's we are getting lately either.
Oh yeah, lets not forget about the massive number of Foreclosure's. Or what about the Dee's in Leiu of Foreclosure.
There was also a time when people would do whatever they could to keep the home they were living in. Home ownership was something one worked towards, the American Dream. Today I see people just walking away from a mortgage they can no longer afford. Or from homes that aren't worth what they paid for them just a few short years ago.
Seems like every effort we have made as a government jst aren't working to straighten this whole thing out.
So here is my question for you. What do you think should be done, or even can be done to get our country back on the track of home ownership?