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Short Sales...The Ostrich Syndrome

By
Services for Real Estate Pros with Taylor 1 INC

How many Short Sales gurus out there have clients who come to you at the very last minute!?

Homeowners who are in deep trouble with their mortgages, more often than not simply put their heads in the sand until the fireworks are over! Those fireworks being "Foreclosure"!

Doesn't that drive you mad!

What they need to do is act early and ask questions.

Taylor One has had a rash of short sale clients in June, the most in any other month. 60% of them were weeks away from foreclosure! I have no idea why they would wait so long for help.

What I do know is that waiting only lessons the probability that the lender is going to be inclined to lift a finger to help. Last minute files, are difficult for lenders to process, evaluate properly and negotiate for fair terms. Finally, it's makes it almost next to impossible for us to find BUYERS!

When you (the homeowner) know you are going down a road that sees you faltering on your mortgage commitment, seek assistance THEN! Here's another way to think about it....ACT NOW!!!!

How many short sales have you been unsuccessful with? What's the number One reason why you were? Well as we've quantified last years results within our company it has been...."Too little, too late"!

I understand the plight of Americans who are going through these troubled times. Our company was founded to become a sourse of advise and assistance for individuals who find their selves in foreclosure. I understand because 10 years ago I faced foreclosure and I got through it. Not because I'm brilliant (although I could very well be) but because I acted day one. And because I acted immediately, several options were available to me....not just one.

Let's commit to marketing what we do more and more so that many Americans won't have to turn into an Ostrich...

 

See ya around the RAIN :-)

Comments (11)

Sean Allen
International Financing Solutions - Fort Myers, FL
International Financing Solutions

WOW.... That there Ostrich in the top right corner sure does have a mouth full of teeth!!

Sean Allen

Jun 26, 2008 07:29 AM
Clark Garrison
Taylor 1 INC - Atlanta, GA
"Loan Modifications"

yep, he's very angry! :-)

Jun 26, 2008 08:09 AM
Gail MacMillan
Titusville, FL

Hi Klarque - Excellent post but those numbers are staggering.  I enjoyed going through your profile and getting the sense of caring which you project.  I've stayed away from the short-sale "fiasco", but that can't go on forever.  I haven't met the right mediator yet - the one person I would like to work with is so busy he's not taking on any more real estate agents.  Doesn't that say it all! 

Jun 26, 2008 08:51 AM
Clark Garrison
Taylor 1 INC - Atlanta, GA
"Loan Modifications"

Thanks Gail for your insight! Yes, Short Sales can go on forever and most agents don't have the patience....I can feel their pain.

 

Jun 26, 2008 11:04 AM
Marcia Kramarz
Re/Max Executive Realty - Medway, MA
CDPE,LMC,CBR

Now there's a vision for us all to remember as we're dealing with Short Sales -  THe Ostrich says it all - thanks for the visual!

Jun 28, 2008 09:44 AM
Clark Garrison
Taylor 1 INC - Atlanta, GA
"Loan Modifications"

Yes Marcia, I have an enlarged version in my office! LOL

Jun 28, 2008 03:14 PM
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Klarque - I also see lenders trying to "sell" deed-in-lieues when I've spent a few months marketing the short!

Jul 10, 2008 10:59 AM
Clark Garrison
Taylor 1 INC - Atlanta, GA
"Loan Modifications"

Wendy,

that burns my "you know what". It defeats all the work you've done up to that point! You wish they would just make that agreement from the very beginning.

Jul 11, 2008 12:07 PM
Nick Dailey
RE/MAX Affiliates - Union, KY
RE/MAX: Northern Kentucky Real Estate - NKY MLS - Short Sale

You're right.  So many people in these situations don't know where to go for help, then by the time they do, it's often too late.  The fun part is tweaking marketing campaigns to stay out in front and give yourself the best chance to help these people.

Jul 16, 2008 05:41 AM
Clark Garrison
Taylor 1 INC - Atlanta, GA
"Loan Modifications"

Hey Nick any suggestions would be greatly appreciated. I need to get the good news out more effectively...gr

Jul 17, 2008 03:17 AM
Artisan Custom Estates
Artisan Custom Estates - Alpharetta, GA

Klarque - Good post and a very accurate read on many of the current problems in residential real estate with foreclosures.  There seems to be a general lack of "reality based thinking" by many folks out there that are backed against the wall.  With a little foresight, planning, and proactive action, so many of the problems could be avoided.

Jul 26, 2008 05:13 AM