Why Short Sales are good for your community

By
Real Estate Agent with Keller Williams Realty

Vacant homes are bad for our community!  Everytime I preview or show a vacant property owned by a bank I feel our community has suffered a loss.  Wouldn't it have been better to have that home pass from one family to another.  Wouldn't it have been better for the buyers to have disclosures from the actual owner of that home?  Wouldn't the owner of that foreclosed home have benefited from consulting with a real estate agent trained to ask the right questions and help them get appropriate referrals so they can avoid unnecessary tax and legal consequences?

For quite a number of reasons, even after 18 years as a licensed real estate broker, I felt it necessary to  get additional training.  I am a Certified Short Sale Specialist and a Certified Pre-Foreclosure Specialist.  Yes, it takes longer to get these transactions completed, but everyone benefits: buyers benefit by buying (often, at a discount) from a person rather than a corporate entity; sellers benefit by knowing that their home, though they are losing it, is passing to another family rather than going vacant and dragging down everyone elses property values and agents benefit by showing their clients all available properties so their client's get just the home. 

I know this is an unpopular view and that some people have not had success with short sales.  The banks are increasing the size of their short sale departments and getting much more pro-active. 

 

Next Post: Achieving success on the buyer side of Short Sales!

 

 

Comments (4)

Pedro Gonzalez
ADT-Millennium Alarms Systems - Pico Rivera, CA
Home Security Systems- ADT authorized dealer.

In a perfect world yes Daphne, however we live in a world that is unperfect and unfortunately the banks don't see the same thing you do. In reality I don't think the banks were ready for so much fall out. This market has taken everybody by storm.

Best Regards,

Pedro Gonzalez

www.VipTopTeam.com

Jun 16, 2008 04:27 PM
Michael Sahlman
www.HomesForVIPs.com - Keller Williams Realty - Miami Beach, FL
e-PRO - Miami Beach Florida Luxury Homes

Well in Miami the short sales are bringing down the values in many neighborhoods, however, there is really no other opton is there?

Jun 16, 2008 04:33 PM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

Somebody has to do short sales. Vacant homes are not good for any neighborhood. Good luck!

Jun 16, 2008 04:38 PM
Anthony Dashtizadeh
Garcia Realty Group, Luxury Sales Group - Potomac, MD
(Dash-T-Za-Day)

Its good and bad. decreases supply but there is a correaltion to a decrease in property value as well.

Jun 16, 2008 04:43 PM