I was referred to Amy Jones blog post on Active Rain and wanted to share it with you. Amy is a Realtor in Chandler, AZ, with ReMax. She really hits the point here. The problem with the recovery of our real estate market is the short sales. Unfortunately, there are no real systems. You can’t trust the bank to get it done in a reasonable time frame. You can’t trust that the buyer will stay to approval. You can’t trust the listing agent won’t sell the home to someone else and just say your offer was rejected by the bank. You can’t trust the seller might bail at the end. This all adds up to a lot of untrustworthy variables in a real estate world that depends on integrity and trust. So, Amy hit it right on the head with her post! Check it out!
WHAT IF there was a simple fix to the short sale fiasco? What am I missing?
I’ve been thinking… could there be an easy fix to the short sale industry mess?
What if sellers were required to have an approval from their lender PRIOR to listing their home for “short sale”?
What if the lender ordered the BPO establishing the sales price that the lender would accept PRIOR to the seller listing the home?
What if the lender issued a letter indicating the sale was approved and that the lender would accept $xxx for the sale PRIOR to listing the home?
What if a real estate agent could not list a home without the short sale approval letter in hand?
What if a buyer knew exactly what a lender would accept for a sales price?
What if buyers and sellers were no longer wasting their time on a short sale that will never close at the price listed in the MLS?
What if real estate agents could go back to actually marketing homes with reasonable response times to move the inventory?
Could it be this simple? Just wonderin.
http://activerain.com/blogsview/1483083/what-if-there-was-a-simple-fix-to-the-short-sale-fiasco-what-am-i-missing–
I must say, if Amy were to get all her What If’s then prices would stop declining and would probably go up!
Just my opinon…Jeff Cameron
480-652-2004