Massachusetts Real Estate

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Understanding Short Sale Transactions | A Guide to Short Sale Facts & Myths

            Understanding Short Sale Transactions | A Guide to Short Sale Facts & Myths

                                                                                                                                                         Short sales in Massachusetts

A short sale unfortunately has become a common buzz word in the Real Estate industry. For those that have been hearing the term "short sale" and don't quite understand what it means, a short sale is a legal lender approved solution designed to assist a home owners who is financially strapped to get out from under their mortgage debt.

A short sale is negotiated through the mortgage holder of an owners home where by the mortgage holder agrees to take less than what home owner owes on the property.

A quick example of a short sale would be if a home owner owes $400,000 on their current mortgage and their home is only worth $350,000. The lender in this example would agree to take a short fall of $50,000 at closing.

In some cases the mortgage holder may completely wipe out the debt and the home owner does not have to repay the 50,000. Many lenders may require a seller to sign a note and repay the debt over a certain amount of time. Typically the debt will be reduced and the owner may receive favorable repayment terms of the short fall.

There is quite a bit to know about short sales from both a buyer's and seller's perspective. I have been successfully been completing Massachusetts short sales over the last three years. In fact (knock on wood) I have never had a short sale that did not get approved! Successfully completing a short sale is about understanding the process.

Many consumers make extremely poor choices by working with Real Estate agents that don’t have a lick of experience with getting short sales approved.  Picking a good short sale Realtor is critical to your success.

The following is a number of specific topics about short sale transactions that you would want to be aware of if you are planning to either buy or sell one of these types of distressed properties.

 

Massachusetts short sale RealtorsStop making mortgage payments during a short sale? ~ Whether or not a home owner should continue to make mortgage payments is a common question that many sellers want to know when considering a short sale. The most common answer to this question is YES, however it really depends on the lender! Click the link to understand all the considerations.

Picking the right short sale Realtor ~ Picking a Realtor to work with in a short sale is very different than a traditional transaction. You want to work with an agent that has experience successfully closing this type of transaction. Remember as a seller you could potentially be facing a foreclosure. There are many mistakes that are made by agents handling short sales. Don't get caught with your pants down!

Stopping a Foreclosure Via a short sale ~ Nobody ever sets out to buy a home and then see themselves in a financial mess. Unfortunately when the economy turned sour lots of folks found themselves in this situation. One of the ways to avoid a foreclosure is to try to short sale your home.

Questions to ask a short sale listing agent ~ If you are thinking about buying a short sale there are some specific questions you can ask the listing agent to determine the probability that the short sale will be approved or not. These short sale questions will also help determine if the Realtor handling the short sale knows what they are doing!

Acceptable hardships for a short sale ~ On many occasions when doing a short sale the lender is going to require some kind of hardship on the part of the seller. Short sale hardships however, have become less rigid recently and some lenders are becoming more concerned strictkly on whether the short sale would benefit them more than a foreclosure sale.

Short sale tax consequences ~ Understanding the tax consequences in a short sale is one of the most important considerations for a home seller. Whether the short sale home was a primary residence or an investment property can have different tax implications.

Getting short sale debt released ~ Getting the debt released on a short sale is obviously a very big deal. Many Realtors that are working with short sales don't have any knowledge of how to get the debt released. A seller needs to pay particular attention to this detail as you can expect to be hearing from a collection agency without it!

When to do a short sale home inspection ~ This topic is important to understand from both a buyer's and seller's perspective. A home inspection should be done before short sale approval and NOT after. Read the article to understand why it benefits both the buyer and seller to do so.

Strategic default vs short sale ~ There are many home owners who are deciding just to walk away from their homes. Fannie Mae has started to crack down on this practice and is now penalizing borrowers from getting a mortgage for up to seven years! A perfect alternative to a strategic default is a short sale.

Home Affordable Foreclosure Alternative (HAFA) ~ An easy to understand explanation of the short sale foreclosure alternative program known as HAFA.

Short Sale Fraud - There are many forms of short sale fraud. The example discussed here is when an investor and Realtor engage in fraudulent activity that is not disclosed to the lender. Both consumers and Realtors need to do their home work when considering tying up their home sale with a short sale investor.

Realtors don't let Short Sale Investors negotiate with the lender ~ If you are a short sale Realtor or are thinking of starting to work with short sales and are approached by an investor who want to negotiate directly with the lender, I would really think twice about it! Unless of course you don't mind increasing the odds of getting sued if something goes wrong.

Getting a mortgage after a short sale ~ one of the things I am asked most often in regards to short sales is how long it will take before you can get a mortgage again. The article covers in depth the time it will take before getting another mortgage in both a short sale and foreclosure as well as some of the credit score implications.

These articles were published on my Massachusetts Real Estate blog where I talk about numerous topics that are important to consumers who may be thinking about buying or selling Real Estate.

I am successfully completing short sales through out the Metrowest Massachusetts area. So far, knock on wood, I have a 100% success rate for short sale approval! If you need to complete a Massachusetts short sale please feel free to get in touch.

If you are outside of the Metrowest Massachusetts area and need to do a short sale please give me a call or email and I would be happy to refer you to a Realtor in your location that handles short sales and knows what they are doing! I have referred short sales to other Realtors all around the country.

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About the Author: The above Real Estate information on understanding short sale transactions was provided by BillRE/MAX Executive Realty Metrowest Massachusetts Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Metrowest Massachusetts Real Estate and homes see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Framingham and Douglas MA.

Click here to view Bill Gassett's Real Estate profile.

 

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150 commentsBill Gassett • July 28 2010 07:29AM

Comments

Agents who refuse to work with buyers or sellers of short sales have reduced the inventory by about 1/3.  Not a good practice.

The trick for buyers and sellers is finding agents with short sale experience/knowledge.

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) almost 4 years ago

Thanks for the blog Bill.

It is always interesting to see how different states handle short sales.

~Deb Cullen, Century 21 Sunbelt, Cape Coral, FL, 239.233.2322

Posted by Debbie Cullen, Your Cape Coral, FL Specialist (REMAX Realty Team-Cape Coral, FL) almost 4 years ago

Bill - a very comprehensive guide for sellers who are contemplating shore sale and a great outside blog.  Outstanding!

Posted by Petra Norris, Realtor, Lakeland FL Homes for Sale (CDV TransAtlantic, Inc.) almost 4 years ago

Bill,

Excellent summary of the high points and excellent links to your other websites.

Posted by Dave Halpern, Louisville Short Sale Expert (Keller Williams Realty Louisville East (502) 664-7827) almost 4 years ago

Bill, This is great information on short sales.  So many people don't know what they are. I've had several calls where the person mistakenly thinks a short sale means the time to close is short.  Educating people about them is the first step.

Posted by Jen Bowman, Realtor - Anna Maria Island & Bradenton FL (Keller Williams Realty) almost 4 years ago

Bill, fantastic information , I'm often asked about making payments while negotiating a short sale...sellers are concerned about their credit, but don't understand it is about to take a big hit and they will get no where with their lender as long as they are current with their note. The bank loves it when you are paying, and don't see a need to help when your current. With your permission I would like to re-blog this later in the week.

Posted by Steve Loynd, 800-926-5653, White Mountains NH ( Alpine Lakes Real Estate Inc., ) almost 4 years ago

Bill,

If Buyers are willing to go through the sometimes lengthy short sale process, they can often get a great deal. That is sort of the price you pay for instant equity. Agents who don't do short sales are missing a large part of the market.

Great to see you at Raincamp Boston! I am definately pumped up! (working on that 70%)

Take care,

Marianne

Posted by Marianne Cherico, Home Stager -Massachusetts and Rhode Island (Interiors by Marianne Cherico) almost 4 years ago

The people(sellers and buyers and agents) that talk shortsales to me are in a weird situation. They have heard a little about it and what they've heard is wrong! Thank you for enlightening the readers of your blog.

Posted by Gail Smith almost 4 years ago

Well done Bill. THis is a wealth of knowledge for the agents and consumers. Do you have any inside knowledge on getting to a decision maker through Equator, rather than playing offer volley for months?   @MarkMcHugh2

Posted by Mark McHugh, Realtor Rhode Island 401-641-3842 (Clearmark Real Estate llc) almost 4 years ago

A well-written guide on Short Sales and its myth. Good job, Bill. I wouldn't expect anything less from you anyways.

Posted by Loreena Yeo, Realtor® | Frisco TX Community Ambassador (3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.) almost 4 years ago

Excellent information Bill, I am going to reblog as well, I will check where Steve posts it and post to different groups. So now that you are an AR celebrity, are you signing autographs for young aspiring real estate agents.....LOL

Posted by Gerry Michaels, GettysburgGerry Social Meida (Glasswork Media Arts) almost 4 years ago

Bill, very nice short sale synopsis.  Definitely worth a re-blog.

Posted by Gabe Sanders, Stuart Florida Real Estate (the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales) almost 4 years ago

Bill ~  An excellent post and I love the way you link to your outside blog!  I wish that NAR would crack down on agents who hold themselves out as short sale experts when they have little or no experience... worse yet, a couple I have dealt with came up with questionable, if not fraudulent plans to try to sell the property...I wish there were ONLY pros like yourself!

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) almost 4 years ago

Bill  You certainly know this subject inside and out.  Of course, you always devote the time to unserstand your subject thoroughly

Posted by Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS" (RE/MAX Real Estate Connections) almost 4 years ago

Bill..Great insight on short sales!

Posted by Phil Cogan (Coldwell Banker Residential Real Estate) almost 4 years ago

Bill the commandments of getting it done right. Sellers should also be careful of working with a short sale negotiator as they may not always have the best interests of the seller as their primary objective, The backward links are so effective, just like they teach at camp 

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754) almost 4 years ago

Bill~

Another reason why I subscribe to your blog and read what you have to say! THX!

And now I am wondering how many real estate professionals have personal experience with this process...

Posted by THE TRAILBLAZER TEAM - ASHEVILLE Land and Signature Mountain Homes, Knowledge. Insight. We Walk the Extra Acreage ! (Signature Mountain Homes and LAND- Asheville 1031 Realty, Inc.) almost 4 years ago

Like them or not, short sales are a big part of the real estate market and they will continue to be so as long as unemployment is high and the negative equity is growing. 

Posted by Rhonda Burgess, Murfreesboro Homes & Nashville HUD Home Specialist (Southern Living Realty Partners) almost 4 years ago

This is an excellent example of a perfect HUB for SEO. Well done, Bill, bravo. Maybe you will inspire other agents to do a hub for their blogs, too.

Posted by Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents, Put 40 years of experience to work for you (Lyon Real Estate) almost 4 years ago

Thanks everyone for all your comments. I hope you will visit my Wordpress blog through some of the short sale articles in the links provided.

Mark - Thank you very much. I do not negotiate the short sales that I work with. I have an attorney who does all the negotiating with the lender.  The rest of my business would suffer if I invested the time in doing the short sale negotiating.

I would recommend you email either Wendy Rulnick or Katerina Gasset regarding your question about Equator. I would be very suprised if they could not help you with that. They both do their own negotiating and use the Equator system. Wendy started the short sale super stars group. You can find both of them here at AR.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 4 years ago

Great post! Very informative! Thanks!

Posted by Michael Thompson, MBA (CENTURY 21 Anderson Properties, Inc.) almost 4 years ago

Short..the time involved does not usually match the process egg timer amount of effort, days, months to get from the starting to the finishing line. Expectations reined in help the process, save the time to explain the process along the way which is a waste, not productive.

Posted by Andrew Mooers, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) almost 4 years ago

Elizabeth - You are 100% correct. I have tried over and over to explain this to other agents regarding SEO but most of them do not understand it.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 4 years ago

Very nice overview of the issues with short sales, Bill.

Posted by Bill Burchard, Broker, Realtor - Murrieta Homes For Sale, Califor (3B Realty: 951-347-3818, CA) almost 4 years ago

Thanks for the information and resources concerning Short Sales.

Posted by Paul Francis, Las Vegas Real Estate - Summerlin Homes - 702.592. (Prudential Americana Group - REALTORS) almost 4 years ago

Bill - Fannie Mae won't review a Short Sale file unless the Borrower is delinquent (at least 30 days past due).

Posted by Tony Marriott, Associate Broker, REALTOR (Haven Express @ Keller Williams Arizona Realty) almost 4 years ago

Bill, good info. Glad to see someone busting myths about short sales.

Posted by Brian Bean, Homeowner Advocate, Dream Big Real Estate, S.Calif (Dream Big Real Estate) almost 4 years ago

Almost all of our business is short sales. It helps knowing each banks quirks.

Posted by Brian McBride, McBride Kelly & Associates (McBride Kelly & Associates Realty) almost 4 years ago

Bill, very comprehensive guide for all and congrats on your success rate with them!

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate) almost 4 years ago

Great article!  I think every realtor should be educated on how to successfully complete a short sale!

Posted by Cindy Roeschen (Waypoint Homes) almost 4 years ago

Hi Bill, I have not had a short sale either way yet.  In the event that one crosses my path, I will do everything I can to help my client.  First of all, I have bookmarked your blog and I also am trying to find classes now that will help get educated right away.  Thank you for sharing this, I cerainly can use it.  Have a geat day.

Ann

 

Posted by Ann Gravel (Pat Bennett Realty) almost 4 years ago

Bill - A wonderful article and greatly appreciated. Education on this matter is extremely important. Will be reblogging for my area as well... Thanks and hope you had fun at A/R Rain Camp... I'm sure you had a great time... I know we did in NYC...

Posted by Robert Hammerstein, Bergen County NJ Real Estate (Keller Williams Valley Realty) almost 4 years ago

Bill - Well done.  You have managed to cover most major points in an easy to read format.  Re-blogging to those in my area.

Posted by Michael Collins, CDPE, SFR , Wisconsin Short Sale Specialist Realto (*ROCK REALTY|Broker|Realtor|Real Estate|WI Short Sale Agent*) almost 4 years ago

Bill you mentioned during the panel discussion at RainCamp that you had been spending a lot of time producing info on Short Sales and this blog is a good representation of that.  It was a well deserved feature.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut) almost 4 years ago

Bill, this is a fantastic summary! 

I still run into a few buyers/sellers still think that a short sale is a home that you need to 'sell in a SHORT amount of time before it goes into foreclosure'.   :-)

Posted by Kerry Lucasse, Your Nest Atlanta Real Estate Consultant (eXp Realty - Nest Atlanta Team) almost 4 years ago

Wow Bill this is an encyclopedia of short sales. Excellent stuff. 

Posted by J. Philip Faranda, Broker-Owner (J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY) almost 4 years ago

Bill, such helpful information. We're bookmarking it for sure.

Posted by Aaron Seekford, Arlington VA Homes 703-836-6116 (Arlington Realty, Inc.) almost 4 years ago

Awesome post Bill, congrats on the feature.  Hope you also got featured at RainCamp.  :-)) 

Posted by Brad Andersohn, ActiveBrad 707.646.1876 (Zillow - Nat'l Outreach Mgr & Dir. of Zillow Academy) almost 4 years ago

Excellent article.  It's one of those topics I've heard so much about but know so little in the past year.  Hope you have continuing success!

Posted by Manuel Monserrate almost 4 years ago

Hi Bill, great post. It helps when the listing agent is educated on the process. When the experience is not there be prepared to work both ends of the deal, being you have to walk the agent through the process if you want your transaction to close. I service short sales in and around my area. Thanks for the points. 

Posted by Kymberly Caldwell-Muniz, TCR Group Keller Williams Realty Fontana ((909) 973-0410 ) almost 4 years ago

Great post Bill!  Most of this seems like common sense, but considering how little of that there often is out there...good to have this kind of information posted.

Posted by Margo Otey (REMAX EXECUTIVE REALTY) almost 4 years ago

Interesting take on the inspection from the buyer's end. I hadn't thought about that before.

Posted by John Novak, Henderson, Las Vegas and Summerlin Real Estate (Keller Williams Realty The Marketplace) almost 4 years ago

Bill- This was a very well written post about short sales Bill. I am very pleased to find a short sale feature that is actually correct. Sellers who are considering strategic defaults should try to do a short sale first. We are getting strategic short sales approved now. The hardship test is still testy with Fannie and Freddie note owners but the rest of the investors are really looking at their bottom line. Makes financial sense, let's do it! Katerina

Posted by Nestor & Katerina Gasset, Realtors, Wellington Florida Homes For Sale (International Properties and Investments LLC) almost 4 years ago

This is the kind of stuff I had hoped to learn about from Active Rain.  Thank you for posting this and guiding me to your site.  This is very much appreciated!

Posted by Robert Jarvis, MBA (Keller Williams, Chicago, IL) almost 4 years ago

Thats a tremendous post, I'm very impressed with not just the content but the structure with all of the links to other short sale blogs.  I would think this would rank very high on short sales in your area.

Posted by Morgan Evans, LICENSED REAL ESTATE SALESPERSON (Douglas Elliman Real Estate) almost 4 years ago

Bill, fantastic post. Very informative. I like the way you made it simple with just a paragraph explanation. Thanks.

Posted by Harj Gill, As featured on NBC's "Saving You Money" (Speed Equity® Real Estate) almost 4 years ago

As always, excellent explanation, clear, concise and totally professional!

Posted by Maya Thomas LLC, Broker, Key West FL Historic Old Town Estates, Bungalows (Key West, Key Haven, Geiger, Sugarloaf, Cudjoe, Summerland) almost 4 years ago

Thanks again everyone for all your compliments on my short sale articles. I hope some of you will visit my wordpress blog and leave me some comments on the individual posts over there.

Morgan - One of my areas of expertise is SEO. Not only do these short sale articles rank well for Massachusetts you will see them in general Real Estate searches as well. I am averaging about 375 visits a day to my Massachusetts Real Estate blog.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 4 years ago

Great blog, Bill! Short sales are such a huge part of our business in the metropolitan areas of Washington State, where I work too, as they are in so many other parts of the country as well. I'm looking forward to the days when the short sale is occasional instead of the bread and butter of my business. Soooooooo much work!

Posted by Gabrielle Nemes (RE/MAX Select R.E.) almost 4 years ago

Bill, nice series of articles. 

Posted by Tim Maitski, The Agent Who Uses "Watermelon Tough" Sign Posts (Atlanta Communities Real Estate Brokerage) almost 4 years ago

Hi Bill,  Your outside blog is very nice and informative!  Keep up the good work.  Glad to see you are having continued success with listing short sales and getting them approved.

Posted by Tamara Inzunza, Homes for Sale In Alexandria VA & South County (RE/MAX Executives / www.MovingToNova.com / 703-623-8759) almost 4 years ago

Congratulations Bill. Much success to you. Well written blog. Masterpiece. Worthy of a Gold Star. Great post.

Posted by Lanre Folayan, Buy a home in Washington DC. Sell your DC Home Now (Keller Williams Capital Properties-Buy a home in Washington DC. Sell a home in Washington DC) almost 4 years ago

Thanks for sharing this information and putting many links all in one...

Posted by Dawn Miller (Exit Realty Central) almost 4 years ago

Bill ... I like your post here about short sale myths and facts.  It's true that home owners should seek our expert REALTORS with experience to help them with the short sale process.  "Picking a good short sale Realtor is critical to your success."  Yes.

Posted by Harrison K. Long, business, REALTOR , GRI, Broker (Coldwell Banker Previews, Irvine, South OC) almost 4 years ago

Very impressed Bill. Excellent example of what the general public needs to know regarding short sales. We too are flooded with shorts.  Bravo!

Posted by Anna Banana Kruchten, Phoenix Real Estate Agent, CRB, CRS 602-380-4886 (Phoenix Property Shoppe) almost 4 years ago

Bill - Fantastic blog full of very timely information. I am going to forward this on to a few of my Short Sale Sellers and Buyers!

Also, thanks for the example of a HUB for SEO. I will try to start using this format and see how it works for me!

Posted by Randy Randolph, Uber Broker , Redmond, Kirkland, Renton, Short Sales (RSVP Real Estate) almost 4 years ago

Bill, great post as always. I don't know what's better, the content or the way you have incorporated links to your new wordpress blog, which I will comment on as well. I would like to re-blog and wondered the best way to make this a win-win for both of us. Is it acceptable protocol for the re-blogger to change heading to make it more local to their market ( with appropriate mention of the real author of course an intro ) and add tags or simply re-blog with an intro? Your thoughts would be welcome.

Posted by Dan and Amy Schuman, Luxury Home Specialists (Howard Hanna Real Estate Services) almost 4 years ago

Dan & Everyone else thanks for all the compliments on my short sale article.

Dan you are able to do whatever you like as long as the link back to me remains. I think it is a good idea to change the description to match your local market.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 4 years ago

Great detailed and well-written article Bill! 

Posted by Andi Grant, First Time Home Buyers Los Angeles, Long Beach (310-508-4354 | FirstTimeHomeBuyerRealEstate.com) almost 4 years ago

Bill - very good post with lots of information explaining short sales. And it is important to pick a realtor who has experience with short sales.

Posted by Sharon Paxson, Newport Beach Real Estate - HOM Sotheby's Int'l Re (HÔM Sotheby's International Realty, BRE License 01501912) almost 4 years ago

HAFA offically starts on Monday for Fannie and Freddie backed loans. I will be interested to see how this changes the landscape especially as it relates to deficiency judgments. FYI, I do not believe it is ethical for a REALTOR® to tell someone to stop making payments if they are current. However, I did just inform a couple who have been making partial payments for 6 months while trying to work a loan mod, that probably not one dime was credited to principle or interest. It was probably escrowed. I see them tonight becasue while all of this was going on they got a notice of Les Pendens Monday.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) almost 4 years ago

I was just thinking it's about time for Bill Gassett the short sale expert in MetroWest Massachusetts Real Estate to come out with one of his well written, informative posts for us here in AR...  and lo and behold, I'm just getting in from showing homes and viola ~ there is is!  Well done my friend - well done!

Posted by Lee & Pamela St. Peter, Making Connections to Success in Real Estate (Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522) almost 4 years ago

Hello Bill,  good job with the post today. I enjoyed the read.   I've bookmarked it for sure.

Hope all is well with you.

Patricia/Seacoast NH

Posted by Patricia Aulson, Realtor - Portsmouth NH Homes-Hampton NH Homes (BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate ) almost 4 years ago

Very good post Bill. Sellers and their agents really need to understand the short sale process if they want to have success and get it closed. Good stuff.

Posted by Bryant Tutas, Broker/REALTOR, Tutas Towne Realty, Inc (Bryant Tutas-Tutas Towne Realty, Inc) almost 4 years ago

Excellent, well written post.  I can see you really took your time and invested your energy into this.  It will pay dividends I can see that!

Posted by Ricky Khamis, NMLS 173141 | CADOC 173141 - 480-339-1565 (Amerifirst Financial, Inc.) almost 4 years ago

A most awesome and well deserved feature Bill!!  Very very well written and I don't have much to add here!

Posted by Renée Burrows, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) almost 4 years ago

Top notch advice from a top notch agent. Bill you never stop working, some excellent content here, and I am going to do my first ever re-blog. :) 

Posted by Lisa Udy, Logan Utah Realtor ( Platinum Real Estate Group) almost 4 years ago

Wonderful post--lots of great info here--and I'm sure to be bookmarking this one to refer back to it later.  I'll probably be printing this one out as a reference piece for my agents as well!  Thanks for taking the time to make it so well written....and great meeting you at RainCamp Monday, too!

Posted by Lisa Orme, Broker/Realtor, ABR, CRS,GRI, PSCS, SFR, Notary Pu (The Master's Key Realty LLC -Windsor, CT - HARTFORD COUNTY) almost 4 years ago

Bill, I reposted this but forgot to tell you how great the article was.  Congratulations of a great post.

Posted by Kay Van Kampen, Realtor®, Springfield Mo Real Estate (RE/MAX Broker, RE/MAX Solutions) almost 4 years ago

Thanks Bill .... a very close relative is going through a short sale and I am going to forward this to them!  pippa

Posted by Pippa Mac, The Woodlands TX Real Estate (Chevaux Group Realtor, The Woodlands and Spring) almost 4 years ago

Think I'll be bookmarking this so I can just send it to anyone with these questions.  Why re-invent the wheel, when you've done such a good job of answering these questions?  LOL.

Posted by Margaret Woda, Maryland Real Estate & Military Relocation (Long & Foster Real Estate, Inc., Crofton, MD 21114) almost 4 years ago

Hi Bill -- While much has been written here on AR and some good stuff at that, when I saw you were the author of this title, I knew I just had to read it as your organization and communication skills are 2nd to none, and this post and series sure does not disappoint.  I have learned a ton from you here on AR and this post is no exception.

Posted by Chris Olsen, Broker Owner Cleveland Ohio Real Estate (Olsen Ziegler Realty) almost 4 years ago

Bill, I'll be SO happy when short sales and foreclosures go away! I know your short sale transactions probably close without a hitch...wish you'd come down here and list these...they're a nightmare! Hugs!

Naples Real Estate

Posted by Shannon Lefevre, Shannon Lefevre, PA Your Naples Smart Girl (John R. Wood Properties) almost 4 years ago

Excellent post, Bill.  I have bookmarked for further reading.

Posted by Jane Peters, Connecting you to the L.A. real estate scene (Power Brokers Int'l) almost 4 years ago

Another amazing post Bill...  I didn't realize your office is only a town away from my office.  We should get lunch sometime so I can steal ideas form you.  I mean borrow... LOL

Posted by Jason Piedrasanta (Seth Campbell Realty Group) almost 4 years ago

Bill,

This is a great post, very informative. I have being doing short sale for a while and think this is a well-written post for agents and consumers to save to our favorites or bookmark. Whether we like it or not we all need to understand short sales. Thanks for allowing to Re-blog :).

Posted by Mayra Espinosa, 650-996-8961 San Mateo, Short Sale Agent/Foreclosures Certified (McGuire Real Estate |Burlingame CA|San Francisco|) almost 4 years ago

Bill -

An informative post, not that I'd expect anything less from you.

Posted by Christine Donovan, Broker/Attorney 800-610-7253 DRE01267479 - Costa M (Donovan Blatt Realty) almost 4 years ago

You are an excellent writer and so experienced in short sales.  You've always been a great source and so helpful to me and my business.  Thank you!

Posted by Maya Thomas LLC, Broker, Key West FL Historic Old Town Estates, Bungalows (Key West, Key Haven, Geiger, Sugarloaf, Cudjoe, Summerland) almost 4 years ago

Fantastic post full of lots of useful information for consumers and real estate professionals a like!

 

Thanks!

Posted by Brian Black, Indy, Fishers, Carmel IN REALTOR (Kucic Associates Realty - Indianapolis, Fishers, Carmel, IN) almost 4 years ago

Great post!  Thank you.

Posted by Peggy Lyn Speicher, Co-Founder & REALTOR® (The Speicher Group) almost 4 years ago

Hey Bill - This is great post with tons of info.  I would like to re-blog this !

Posted by Christine Bohn, Realtor, Gainesville FL (RE/MAX Professionals) almost 4 years ago

Nice organized presentation.  Would love to use some or all for training purposes.

Posted by Pam Crawford almost 4 years ago

Hi Bill, Well written blog as usual.  I work with Short Sales in my area and would agree that if an agent isn't familiar with the process they can do great harm to the Seller.  Would also agree that the time to do the home inspection is prior to lender approval.  The Buyer always baulks at paying for the inspection prior to approval but there really is no other choice.  Can you imagine if a buyer walked based on a home inspection result after you worked countless hours to gain lender approval (never mind the likelihood of foreclosure). YIKES. 

Posted by Catherine Condon, Pepperell MA Homes - Middlesex County - Hillsborough County (Short Sales - Integrity Residential Brokerage) almost 4 years ago

Great post.  Here in Georgia real estate agents are forbidden by law to negotiate a short sale and a loan mortgage originator must do the negotiations.  Further we dont offer opinions on many of the subjects since the financial ramifications can be significant.  I send the sellers to resource like this rather than put my foot in it so to say.

 

Posted by Mark Lackey (Atlanta Housing Source at Solid Source Realty, Inc.) almost 4 years ago

Great post very informative!

Posted by Katrina Lee (City Choice Realtors) almost 4 years ago

Bill, no matter how many short sales one does, there is always room for more valuable information. Your post is just that. Thank you!

Posted by Kristina Heili, Comprehensive Real Estate Services (Keller Williams Premier Realty) almost 4 years ago

Great post!!

Posted by Zak Lovenson (Zorell Investments, Inc.) almost 4 years ago

Hello Bill

One thing I wish you had touched on is the length of time it takes to get a short sale approved.  I appreciate this is highly variable from lender to lender, but the key question in a buyers mind.  My limited experience with short sales is that our offers go into a black hole with no information offered as to status until a few days before the bank expects to close.  This is very hard on most buyers.  Any thoughts?

 

Brian Rugg

 

Posted by Brian Rugg, Sun City TX Real Estate - Georgetown, TX Real Est (Rugg Realty LLC Sun City Texas 512-966-3200) almost 4 years ago

Thanks Bill for the wise words of advise to sellers considering short sales.  I plan to re-blog.

Posted by Mary Kay Irving (Thompson Daviau Realty) almost 4 years ago

I have to agree with Len in comment 1 above. My current inventory is 2/3 short sale, 1/3 conventional listings.

Bill, articles like this are a great service, thank you.

Posted by Jim Little, Your Sun City Arizona Realtor (Ken Meade Realty) almost 4 years ago

Now what a great way to get links back to those posts, on http://massrealestatenews.com

Cool, I need to do this.

Posted by Missy Caulk, Realtor - Ann Arbor Real Estate (Missy Caulk TEAM) almost 4 years ago

In this ever changing world of mortgage do's and don'ts, it is very important to keep up to date.  What is true today may be absolutely wrong tomorrow.  I refer to the paragraph on Fannie not taking kindly to the Strategic Walk Away.  http://activerain.com/blogsview/1639282/i-want-it-i-can-afford-it-it-is-however-more-than-i-want-to-pay-for-it-so-i-ll-steal-it-

Thanks for taking the time.

 

Hercel Spears

Posted by Hercel Spears (Advanced Realty Education HomeSmart Realty) almost 4 years ago

Fantastic.  Thank you for taking the time to put this together.

Maya Galletta

Posted by Maya Galletta (ReMax Direct) almost 4 years ago

Bill,

This is a great post. I will repost it next week and talk about it in a CRS 111 Short Sales and Foreclosure.... class that I am teaching next week in the Chicago area.  Keep up the good work, you are making a difference.

Posted by LeRoy Houser (LeRoy Houser Seminars Inc.) almost 4 years ago

Thank you for this article. It did enlighten me to some considerations. I do have one concern though. You state that prospective Short Sale sellers should seek only experienced Short SALE realtors. I am just beginning my first experience of short sales; however, I contacted a title company and their escrow officer who has lots of experience and she is keeping in touch to keep me on tract. I don't think that each person has to know everything but we need to have a mentor in order to over come inexperience. After all you too had a first experience at this at some point right?

Posted by Frank Leach (Towne Adams Realtors) almost 4 years ago

For every 10 files we set up to close with a Short Sale, only 2 ever close because either the seller is too far behind or the buyer gets tired of waiting and finds another property.

Additionally, sellers that have fallen behind on their mortgage have also stopped paying other bills and have judgments against them. Often the shorted lender prohibits junior liens to be paid on the HUD which again, kills the deal.

BEWARE... There are investors that look for short sales with the intention of flipping the same day they purchase for a higher sales price to a new buyer. The shorted lender MUST be put on notice (and agree) of subsequent transaction or you run the risk of being a party to defrauding the shorted lender.

Posted by Jarett Shaffer almost 4 years ago

Bill

Great post and blog. There's so many facets to Short Sales to be considered.

 

Posted by Anna Stout (F.C.Tucker Co.-Carmel/Westfield IN Homes for Sale) almost 4 years ago

Great post...

Posted by Kyle Pettit (Realestate.com) almost 4 years ago

I agree with most of your article, except the 1st line...A short sale unfortunately has become a common buzz word in the Real Estate industry.   I don't think it's unfortunate at all that short sales has become a buzz word.  It's a natural state of the industry in a declining value market.  Shifts are happening daily, and short sales are a very fortunate opportunity for agents, and homeowner's, and banks.   The alternative in many cases is foreclosure, which is unfortunate for all....as everyone loses in foreclosure.  Thanks, Coach

Posted by Mark "COACH" Collard (Keller Williams Realty East Valley & Synergistic Solutions) almost 4 years ago

Bill, great post. I always enjoy reading your Blogs.

Posted by Yasmine Awad, Yasmine S Awad (Premiere Plus Realty Co.) almost 4 years ago

Lot's of good information now will some the agents use this info?

Posted by Francisco Garcia, Jr., Search Scottsdale Scottsdale (FG Real Estate) almost 4 years ago

Short sales are a minefield for both buyers and sellers unless they are working with an expert AND an agreeable lender.  I wonder how many attorneys are going to retire in the future with the money they earn from litigating short sales?!

Posted by Al Kernek (Pacifica Endeavors LLC) almost 4 years ago

Bill I am sure you are a nice guy and a good realtor, but you should really not write any more short sale articles until you do some further research. Your article omits the most imporant fact about the short sale process which is whether the loan is securitized and/or backed by VA, FHA etc. Without including this information you are describing the apple without including the core of the apple in your description. Realtors should absolutely 100% STAY AWAY from securitized loans such as those serviced by Homeq Servicing, Wilshire Credit, etc. Their short sale process is much too long and is much longer than your buyer will hold on. With FHA there are guidelines such as occupancy that they will not tell you until months AFTER you have submitted your deal and have waited for an answer that will automatically disqualify a short sale offer. Plus the holders of securitized mortgage notes use a  percentage system that in many places only allows a settlement that is higher than the fair market value of the property.

 

Futher telling someone to stop making their payments can lead to legal ramifications such as foreclosure, and therefore would be considered LEGAL ADVICE, which you are not legally authorized to give. I am sure that was in your coursework when you studied to become a licensee.

Posted by Kevin R. almost 4 years ago

Bill,

Thanks for the great info.  The shorts are more and more commonplace and it's good to know how to succeed at doing them.  This post helps!

Posted by Eugene Adan, Carlsbad Real Estate (Adan Properties, Carlsbad, CA (760) 720-9710) almost 4 years ago

I attended a 4 hour workshop about short sales and foreclosures which was very informative. Your post however, really is well organized and my notes from the workshop are not as good as this article. Thanks

Posted by Roseanne Campagna, Kent/DesMoines/Blk Diamond/Renton/Maple Valley, WA (John L. Scott RE Maple Valley, WA ) almost 4 years ago

Thanks for the summary & it would be great to learn which lenders will really do these vs playing games.

Posted by Tina Gleisner, Home Tips for Women (Home Tips for Women) almost 4 years ago

Thanks for the information. I am workig on a couple short sales right now.

Posted by Judy Harrington almost 4 years ago

Excellent. Extremely well written and well-presented.

More and more, we're seeing short sales getting approved. The more we blog about this as an alternative to strategic default or foreclosures the better for all concerned.

Keep up the good work

Posted by Pacita Dimacali, Alameda/Contra Costa Counties CA (Alain Pinel) almost 4 years ago

Excellent re-post fodder for agents...with the intent of educated their potential clients.

 

When you create your V2.0 of this post...maybe add more HAFA Stuff. HAFA is going to transform the SS process...(with the lenders kicking and screaming the whole way.)

Next 'trend' in real estate...Strategic Short Sales. 

Here is all the HAFA Info. 

Hope this helps...and again, great job!

Tim

Posted by Tim and Julie Harris almost 4 years ago

Hi Bill,  This is an excellent review of the issues surrounding short sales and goes a long way toward educating consumers.  I'm also thinking we agents can benefit from your expertise !

Posted by Bill Gillhespy, Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos (16 Sunview Blvd) almost 4 years ago

Bill, what great information and nice, easy to read format.  I've bookmarked and am now going back to click on the links.   

Posted by Gina Chirico, Real Estate Agent - Essex County, New Jersey (Lattimer Realty) almost 4 years ago

Great post Bill. We handle a large volume of short sales here in Sothern California and always appreciate any well written articles that help to inform everyone.

Thanks!

Glen

San Diego Short Sale | Orange County Short Sale

Posted by Glen Henderson, San Diego - Broker / Realtor (Silvercrest Realty Group) almost 4 years ago

Very well written post.  I like your approach.  I am sure you will get a lot of hits of this.

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) almost 4 years ago

As many short sales as there are and as profitable as they may be, they are EXTREMELY TIME-CONSUMING.  Before taking on a short sale listing, the agent should make sure he/she has the time to do the job.  Otherwise, you're doing the seller an injustice.  I used to take on all listings but realized in time that some involve so much time that it's not cost effective.  I like helping people - but not devoting adequate time to the listing is not helping.

Posted by Barbara Horton, The Horton Chrisman Team almost 4 years ago

Good info.  Thank you.  As a distressed real estate (short sales and foreclosures) specialist myself, I read just about everything I find that covers short sales and foreclosures.  You may want to check out my blog post Our Phony Real Estate Market to get a glimpse of what has happened and what will happen to the housing market in the next few years.

Posted by Jim McCormack, Nashville Short Sale REALTOR - Stop Foreclosure (Reliant Realty - Nashville Short Sale & Foreclosure Help) almost 4 years ago

Excellent and informative post Bill.  Love the last sentence where you offer to help people find a realtor outside your area, good thinking!

"If you are outside of the Metrowest Massachusetts area and need to do a short sale please give me a call or email and I would be happy to refer you to a Realtor in your location that handles short sales and knows what they are doing! I have referred short sales to other Realtors all around the country."

Posted by Keith Lutz (Keller Williams Metropolitan) almost 4 years ago

1. Nice blog post Bill.  Very comprehensive and accurate with respect to short sales.

2. Also, I followed one of the links to your Wordpress blog.  That's nice too!  The Thesis theme is very nice looking!

3. Hopefully you'll notice the spam comment (#119) above and delete it!  

Have a nice day!  ;-)

Posted by Kent Dills, Real Estate 817-495-8028, Bellingham, Washington (Broker, Dills Real Estate) almost 4 years ago

Brian - The Realtor or whoever is handling the short sale should be keeping you informed. Some of the steps you want to be informed about are when the bank recieves the short sale package, when the negotiator is assigned and when the BPO has been done.

 

Jarret - Every short sale contract that gets signed when I am involved says the buyer has to wait 90 days for short sale approval. End of discussion! If they can't commit to waiting that long then they will not be buying the home. This severely cuts down on short sales not closing!

 

Frank - Let me re-phrase my opinion. Someone in the transaction should be familiar with the short sale process if the Realtor is not such as an attorney.

 

Kevin R - While I did not post an article link about FHA and VA short sales I don't think that means I should not be posting articles about short sales. I am quite sure I know what I am doing. How many agents do you know that have never had a short sale not get approved?

This statement does not make sense "Realtors should absolutely 100% STAY AWAY from securitized loans such as those serviced by Homeq Servicing, Wilshire Credit, etc. Their short sale process is much too long and is much longer than your buyer will hold on." Are you saying just screw these folks?

I also never tell a client to stop making morgage payments. I let the attorney handling the short sale do that.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 4 years ago

Nice Compendium!  I couldn't have done it better myself........!

Posted by Richard Zaretsky, Florida Real Estate Attorney (THE ZARETSKY LAW GROUP P.A. - Board Certified Real Estate Atty and AUTOMATED LAND TITLE COMPANY) almost 4 years ago

Thanks for providing this.  What a great reference this is. Going to re-blog.

Posted by Rob Arnold, Metro Orlando Full Service - Investor Friendly & F (Sand Dollar Realty Group, Inc.) almost 4 years ago

Bill an awesome article, great resource for anyone considering buying a home which is a short sale.  You convey your skill and knowledge in the process making a buyer comfortable in your services.

Posted by Jon Sigler, Connecticut FHA VA USDA Mortgage (Embrace Home Loans, NMLS#119288) almost 4 years ago

Bill,

 

What a great resource of a wealth of articles to help people understand short sale transactions.

Posted by Lori Cofer, REALTOR, Moscow Idaho Real Estate (Beasley Realty) almost 4 years ago

I like the questions to ask a listing agent regarding the short sale.  I like to do this to get a sense of the person I am working the short sale. I also like to ask how often I an expect an update from them.  It lets me know how often they "handle" the file. 

Posted by Cindy Abel, Broker/Owner - Las Vegas Homes and Real Estate (Southern Nevada Realty, LLC) almost 4 years ago

Bill

as usual what a great post. I completely agree. in our market if you refuse to show short sales or distressed properties you give up over a third of the homes as well.

Have a great weekend.

 

Posted by Lisa Ludlow Archer (Team Ludlow-Keller Williams, Charlotte, NC Ballantyne Area ) almost 4 years ago

Of all of the short sales we have done, only one was not approved.  The worst one took 3 years to close.  We sold it 9 times!!  The bank was ridiculous.  It took them 90 days to accept a cash offer for asking price.  Of course that Buyer walked away too.  We also changed negotiators during the process because it was obvious they were not getting results.  The one we have now is tenacious.  Most of our short sale processes are less than 6 months.  Joy

Posted by Joy Carter & Jeff Booker Brother and Sister Team, Trust Your Family's Move To Our Expertise! (Keller Williams Partners Realty-GreatFloridaHomes Team) almost 4 years ago

Great informative blog. Thank you!

Posted by Conne almost 4 years ago

Wow, great article.  Very indepth.  Shows that you have a lot of knowledge and expertise.

Great job!

Posted by Jane Becker, CRS,ASP,ABR,CBR,CDPE,LMC,E-PRO,GRI (Keller Williams Home Team AdvantEdge ) almost 4 years ago

Bill,

I have heard of home inspectors implying that they have special expertise, skills or training in inspecting short sales and foreclosures.

How would the requirements vary from a standard ASHI or NAHI home inspection?

Posted by Marshall Brown, BSEE, CHI (Mid America Inspection Services, LLC) almost 4 years ago

Marshall that is a new one on me. I am not sure how a short sale would be any different than a non-short sale with respect to a home inspection. That seems pretty silly that someone would be making such as statement. As you know a short sale could literally be any kind of property.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 4 years ago

Great post Bill.  Excellent information overall.

Posted by Lyn Sims, Schaumburg Homes (RE/MAX Suburban - Schaumburg IL Real Estate - Northwest Suburbs of Chicago) almost 4 years ago

Of all the information I found on short sales, I could not find any information regarding Massachusetts tax laws concerning short sales.  Although the Mortgage Foregiveness Act will work on my federal taxes, do you have any information regarding MA state taxes.  I've spoken with a couple of accountants that didn't have a lot of helpful information.  I did receive a HUD and 1099 form, but I want to be prepared for next year.  Thanks.

Dee

Posted by Dee almost 4 years ago

everbody's a short sale expert in southwest florida, or so they would have you believe. we have the potential to have the short sale phenomena continue till, well frankly i don't honestly know, but i don't see the end insight.

buyers/sellers should feel free to ask their Realtors and loan officers how many of these transactions they have actually closed. that will probably thin the field a bit.

Posted by Jay Beckingham (Premier Nationwide Lending) almost 4 years ago

Great information Bill!  I like how you've made it easy for consumers to find the answers to so many questions in one place!  

 

Posted by Pam Pugmire, Meridian Idaho Real Estate (Silvercreek Realty Group) almost 4 years ago

Dee - The Debt Relief Act only applies to Federal income taxes but most are able to show insolvency for their returns and therefore avoid the related State income taxes

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 4 years ago

Bill - I have seen your name around and around the internet. I love this article and I was going to reblog but since so many have, I hesitate. What everyone else says I emulate but I will say that you do a tremendous job with your SEO.

I was searching for certain topics to write some other blogs and BAMM there you were. Great job, I found another subscription.

Posted by Ken Barker Realtor® GRI, E-Pro Certified (Dilbect Real Estate) almost 4 years ago

Thanks Ken I really appreciate the comments on my short sale articles I have put together. SEO is one of my strong suites. Of course this really helps marketing all of my clients homes!

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 4 years ago

Bill, I have reblogged your excellent post. Thank you for a really well written piece.

Posted by Leslie Ebersole, REALTOR - Chicagonulls Western Suburbs (Baird&Warner Fox Valley) almost 4 years ago

Good article Bill. I'm certainly going to be reading up on the process.

Posted by Harj Gill, As featured on NBC's "Saving You Money" (Speed Equity® Real Estate) almost 4 years ago

Bill, this is an excellent summary that contains great info for short sale sellers! I feel the need to re-blog!  :)

Posted by Don Wixom, "Looking out for your next move..."tm (RE/MAX Advantage Nampa, ID) almost 4 years ago

Great post Bill! You have inclded som much good information and hopefully i will generate a large amount of leads for you.

Posted by Scott Fogleman, Witt-Fogleman, Inc. - Bedford, Lynchburg, and Roan (Witt-Fogleman Team 434-941-8847) almost 4 years ago

Very comprehensive

Posted by Sample Sample almost 4 years ago

Bill, I appear to be late to the party on this one.  Personally I think they should be called long sales as they take a VERY long time.

Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 4 years ago

I agree with Marchel that they should be called LONG SALES!!! The only one coming up short is the lender, sad as that may be. They requrire extra time, paperwork, sweat, blood and tears and all that for the opportunity to make the same amount of money!! Here's to the sale of the day and gettin it done however it has to be done within the boundaries of honest, integrity and expediency (can that be in the same sentence??). Thanks Bill!

Posted by Alan Glasband (Glasband Real Estate- Keller Williams South Bay) almost 4 years ago

Excellent post, Bill. I've managed to become a top short sale specialist in my local market in Santa Monica, CA over the past 2 years, and they seem to be getting more and more challenging and complex with so many borrowers having 2nd liens. I'm grateful to have excellent negotiators on my team, and so far, we've been able to close every one we've taken on. I'm happy to brainstorm with anyone on AR!

Posted by Dana Ehrlich (eXp Realty California) almost 4 years ago

Bill,

This is a great article on short sales, with so much good information.  Thank you for writing it.  Thank you also for making it re-bloggable.

Posted by Judi K Barrett, Broker/Owner, Integrity Real Estate Services -IDAB (Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma) almost 4 years ago

Bill, what a great compendium of short sale information! With your knowledge of SEO, you will be doing referrals all over the country. It takes a knowledgeable, tenacious, persistent person who won't accept a 'no' to get short sales closed. That's where we come in :)

Posted by Sharon Alters, Your Fleming Island Relocation Agents. (Coldwell Banker Vanguard Realty) almost 4 years ago

Thanks again everyone for all your great comments and compliments on my article about short sales.

Sharon - I have actually been refering short sale business all around the country for a while now. My Massachusetts Real Estate blog is very well indexed in the search engines and comes up on the 1st page for all the topics I happen to write about. Short sales have become a large part of my business!

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 4 years ago

Really informative post. I refer back to it a great deal.

Posted by Patti Lyles, REALTOR & Short Sale Agent (831) 335-2100, Santa (Century 21 Showcase, REALTORS®) almost 4 years ago

Bill - great informative post about short sales!  Most people have no idea of what a short sale is - they hear the term "short sale" and think nice happy thoughts - they need to know it can be a tough trying time but with proper guidance from a pro success can be had!

Posted by Brian & Marie Spray, Frisco TX Realtors (www.DFWAreaRealtors.com - Action Realty Group) almost 4 years ago

Great post Bill!  I hope it's helped secure you some more short sale deals.  We are working quite a few down here in Florida, and enjoying every minute of it.

Posted by Matt Robinson, Pensacola Real Estate (850) 292-4000 (ERA Emerald Coast Realty) about 3 years ago

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