There are many, many posts on Active Rain and other websites that herald the improving real estate markets in most areas. This should cause a change in our marketing. Not only have markets improved, but short sale approval prices have been steadily rising. Many speak of manipulation of prices by GSEs and it is almost undeniable that this is happening. In any event, there is no question that short sales are increasingly difficult to get best pricing.
Accordingly, I have adjusted my marketing. In the past, most investors shy away from luxury homes in need of some rehabilitation, repair or improvement. The reason for this is that they could not get funding for the acquisition and improvements. I began marketing to my investors that there are opportunities to acquire luxury real estate that is in need or benefit of some improvements or repairs. My investors saw the opportunity and agreed to fund acquisitions and improvements.
I also embarked on a "Non-Profit" short sale strategy. The strategy isolates the objections to traditional short sales - hold times, limited profit, etc.
The marketing strategies needed to change because traditional short sales have changed. Many agents and business people trying to capitalize on distressed real estate, spend massive amounts of time and energy on a startegy, and then cannot get the transactions finalized or they no longer have an exit strategy.
In my opinion, it is better to ride a wave than to try and create a new one!!!
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