Valerie's Belfair WA Real Estate Blog: Is there a change in the air?~Short Sales & the Banks~Or Am I just behind the times?

Is there a change in the air?~Short Sales & the Banks~Or Am I just behind the times?

 

an "ah ha" moment

 

 

 My magical crystal ball fogs up and my head spins everytime I even try to figure out or anticipate what a bank is thinking or what their reasoning is for something.

What are they thinking?

 I can honestly say that I feel a "change in the air" and a new trend coming.....

Yes - I have had numerous clients already this year call and request my services because their lenders told them to list their home with a real estate agent and sell their home - short

They did not want to hear back from the borrower or their agent until there was an offer on the table. 

Another client had a buyer for his home, had already submitted his short sale package because his tenant was purchasing the property (all without agent/negotiator involvement), and the bank directed the borrower to list the home with an agent in order to complete the short sale process.  

The banks are suggesting to their borrowers to "short sale" their home  instead of Deed in Lieu or foreclosure. Thinking about it, from the conversations I have had, they are not even suggesting it, they are flat out telling them to find an agent to market the home and short sale it. 

Now mind you - I am not complaining! Because I truly do love a challenge!

 I am just curious to what others are seeing and hearing out there and is this a new trend for the banks?

 

The client does not qualify for a modification or a modification would do the client no good with it still leaving them in a pickle.... the bank does not want to do a foreclosure,nor accept a Deed in Lieu.

Are they realizing that many of the homeowners that want to modify their loans are still in a pickle - so they move them to short sale the home? 

Okay.. Are the banks moving to the short sale  because it is too costly for them to foreclosure or accept a Deed in Lieu on all of the homes that are upside down?

 Is it because their inventory is already so heavy with non-working assets (foreclosures) that they do not want any more inventory and realize that it is more cost effective to participate in a short sale?

  Is it more cost effective? 

I only know  that this has been the majority of my phone calls for the last two weeks and my mind has started processing this as a new trend and change in the air......

I feel a change in the air and a new trend happening.....Or am I just slow in figuring it out??

Soooooo  .....What do you think?

 

  

If you would like more information on Belfair, Allyn and LakeLand Village homes for sale or  Hood Canal and Puget Sound Waterfront Homes for Sale, drop me a line, give me a call, or stop on by.  You can also check out the many choices and prices on my website!

~~Valerie~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Whether you are buying or selling a home, don't put your goals off without talking to a local real estate expert with knowledge of homes for sale on Hood Canal, Southern Puget Sound as well as LakeLand Village, Allyn, Belfair and the surrounding area.

 I Build relationships for life. YOUR SUCCESS IS MY SUCCESS!

Windermere Peninsula Properties

My email: vlsallyn@windermere.com

My website: www.valspaulding.with wre.com

My blog : www.BelfairWARealEstate.com

My Direct line: 360.710.5622

 

 

 

Comment balloon 4 commentsValerie Spaulding • January 11 2012 10:02PM

Comments

In todays market a Smart sale is a Short Sale. According to Businessweek new exit strategy "Short Sale". The Banks/Servicers are starting to process more Short Sales. Its Cheaper than a Foreclosure and of course government incentive for Servicer & Homeowner. WIN WIN

Posted by Shelda Hodges Author & Realtor, It's your journey. We will hold your hands (SANDALS REALTY GROUP, INC) almost 7 years ago

Shelda- You are so right... Win win.  Bout time I don't have to fight my way through their phone system to see if we can do/they will consider  a short sale! Concerned though that it might pull prices down again... hmmm - let's hope not. thank you for stopping in!

Posted by Valerie Spaulding, Allyn-Belfair-Hood Canal-Local Expertise! (Windermere Peninsula Properties~Allyn~Belfair~WA) almost 7 years ago

The tide is changing and I believe they are getting a lot easier and the banks are more cooperative

Posted by Charles Stallions Real Estate Services, Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl. (Charles Stallions Real Estate Services Inc) almost 7 years ago

Joyce - I fully agree!  thank you for stopping in!!

Posted by Valerie Spaulding, Allyn-Belfair-Hood Canal-Local Expertise! (Windermere Peninsula Properties~Allyn~Belfair~WA) over 6 years ago

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