With all of the “naysayers” in the real estate re-sale circles, it’s a wonder more realtors are not giving up. Those that are not motivated, probably should not have gotten into the real estate business.
In our training seminars for “starting out” realtors – we stress the point that this market has not stayed the same, not will it continue to be the same. It is ever changing. There are a few things that would/could turn this around.
What if the “powers that be” were to change it so that those that have completed a successful Short Sale on their property could purchase within 6 months of the charge off date? That would take this market and further turn it on it’s ear. We consider inventory to be poor today – if that change was implemented – it would would be a total game changer.
What if those that had their property foreclose or did a “deed in lieu” were to be able to purchase after 1 year? That would be another game changer still.
While the short sale process has been rumored to have gotten easier – that strictly depends on the bank holding the note on the real estate. While we have seen many ‘positive’ changes with regard to the “big banks” and their short sale procedures – there are still some that are like dealing with an assailant that is in better shape, better equipped and with “wind” that lasts for days.
But, as we tell the new agents that are within our training groups – “This market will not remain this way forever…”
We also talk about “Now” being the time to sharpen your saw. That statement comes from a joke about two men that, during the GREAT depression, were applying for “hard to find” jobs as lumberjacks. They were both given a saw, and a pile of wood. They were told by the “boss man” the first one that has completed cutting all of the wood in their pile would be hired for the job. So the contest started. As the day went on – the two men did not quit or give up. They kept pushing toward the goal of “getting hired”. At the end of the day, the “boss man” came back and declared one of the men the winner and hereby now “employed”. He had cut twice as much wood as the other man. The Loser – was very upset. He said, “That’s impossible – every time I looked over at you during the day, you appeared to be resting…” The “winner” responded, “I was not resting, as you thought, I was sharpening my saw…”.
My experience in real estate dictates that “changes are a foot…”. All it takes is someone signing on the dotted line to break up this real estate log jam.
Be Safe – get good advice and talk soon.
Your New Foreclosures alert, Paris911’s Santa Clarita Bank Owned Real Estate Alert, found a match.
Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid
Bank Owned 512768042 26831 AVENUE OF THE OAKS A SANTA CLARITA 91321 CA CND 806 2 1.00 08/08/2012 $106,603.00 $105,000.00