"I'll Never List a Short Sale" an Urban Myth in Real Estate

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Real Estate Agent with Monument, Black Forest, Falcon, Fountain homes

 

 

 Colorado Springs is many things: home to the Air Force Academy, the city at the base of Pikes Peak, a mecca of American history centered around the Gold Rush, and according to US News, “one of the best places to retire.”

 

best places to retire in Colorado 

 

What it’s not is immune to the economic woes engulfing the entire country especially those caught in the upside down trap created as a result of the Real Estate bubble.  Increasing numbers of home sellers are falling victim to what I call the “cash shortage” dilemma while in the midst of marketing their property for sale amongst the wave of Foreclosures and short sales.  As sales prices have to be decreased to keep pace with the market the sellers fall victim to coming up short on cash needed at closing to complete the transaction, especially if the home was purchased at the peak of the bubble in 2006. 

 

Realtors in Colorado Springs must be versatile enough to assist sellers in transitioning from what is called a regular sale to a short sale based upon competitive pricing and a seller’s ability to “come to the table” with enough cash to complete the transaction.  When the sales price drops below that mark their Realtor needs to have the knowledge and resources to change gears to a short sale immediately and now assist the seller with a whole new arena. 

 

Hiring a Realtor adapt at listing short sales and willingness to embrace that arena creates a hiccup in the sale process instead of a crisis. Knowing the comfort level and current market expertise is a critical step to the initial interview process when considering who to partner with in the sale of a home.  What may seem inconceivable at the onset of marketing can spiral to harsh reality within a few short weeks.  The last thing a seller needs when in the midst of processing the situation is to hear from their Realtor that they don’t know how or want to “market a short sale.” 

 

To reach a Colorado Springs Realtor that is an expereinced short sale agent contact Lorraine Sayer ABR,CDPE,GRI

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Colorado El Paso County Colorado Springs
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Colorado Real Estate
Tags:
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real estate bubble
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Rainer
238,346
Anne M. Costello
Weidel Realtors - Yardley, PA

Lorraine: Short sales can happen at any time in this market. Realtors need to be prepared to market and manage the short sale or else suggest or refer someone else.  The clients' needs must come first!

 

Aug 16, 2011 11:37 PM #1
Rainer
37,846
Jose Rivas
Nottingham, MD

We can't be scare of short sales, we are professionals and we need to be ready to handle all types of real estate transactions, our clients count on us for that.

Aug 16, 2011 11:54 PM #2
Rainer
478,183
Not a real person
San Diego, CA

Hope you have a most wonderful weekend!

Aug 20, 2011 04:50 AM #3
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Rainer
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Lorraine Sayer

Realtor ABR,CDPE,GRI - Colorado Springs,CO RE/MAX
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