Saturday, January 29, 2011

An Open Letter Concerning "Short Sales" to Prospective Home-Buyers & Real Estate Agents...

Dear Prospective Home-Buyers;

If you are in the market for a new home and may be considering a "Short Sale" in Ocean County, NJ, please take the 3 and a half minutes to watch this video first. Then, share it with your real estate agent!

Dear Fellow Real Estate Agents;

If you represent prospective home-buyers considering "Short Sales" in Ocean County, NJ, please take the 3 and a half minutes to watch this video. Then, share it with your clients!

As if the local housing market didn't have enough challenges, do we really need to complicate things by "enabling" our prospective home-buyers (many of whom suffer from the misconception that banks like to lose money) by allowing them to submit "offers" we know will never be approved?

Perhaps, these are the very same real estate agents that still take listings, at the Home-Seller's price, with the "intention" of working the price down over the next 6 months of agony? Ah, but that is another post entirely!

Here is what we know:
Slide courtesy of Keeping Current Matters.

We also know that mortgage interest rates have been trending UPWARDS recently. Which means that while some of us allow our clients to suffer the purgatory that is "waiting for a response from the bank", our prospective home-buyers may actually end up spending more money for their next home in the form of a higher monthly payment!

We have the power to stop the insanity. Let's educate our prospective home-buyers in Ocean County, NJ, perform our fiduciary responsibilities and actually earn a living!

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