We will always see short sales in a market...sometimes almost none...and is was the case a while ago...bunches...it is the ebb and flow of the economy. Short Sale Sellers are not to be scolded...just like no one gets married thinking of divorce...no one buys a house to have it listed as a short sale.
Life happens. Divorce...job loss...death of a spouse...reasons are many and sometimes multiple reasons leaving a wake of financial devastation for the Sellers.
When you as a Buyer...or a Buyer's agent decide to write an offer on a short sale...before you even "fall in love with the property" find out how many short sales the listing agent has successfully closed. In our MLS, that is now recorded ...when we started doing them..that was not a category that listed separately and therefore not recorded as part of an agent's listing history. If you can find out thru MLS, then you have an objective view of how many short sales the agent listed and closed. If your MLS does not categorize listings in that manner...ask the listing agent for a list of addresses and dates of closed short sales he/she has listed.
If the list is short...or doesn't exist...it's not the best house to choose for writing an offer as the next hopeful happily ever after. There are too many things beyond everyone's control that can prevent a closing. Choose the agent who has considerable expertise...ask them what they believe is reasonable for closing...and know that doesn't always happen even with a seasoned listing agent. Buyers must be patient or it is a waste of everyone's time...the Buyer thinks they have bought a house...the Seller thinks they sold one...and none of that may happen with an inexperienced listing agent to complicate the transaction.
Buyers and Agents BEWARE...research before you write !
If you or anyone you know is unable to pay their mortgage...no matter where they are in the country...Call the Hansons...if you are not in southeastern Wisconsin, we will refer to an experienced agent in our network. Experience is everything...we are honored to be assistance.