Checked Out Homeowners & Short Sales

One thing that always gets to me is checked out homeowners. When someone is in a short sale situation it means they are near foreclosure. It means their funds are low and their bills are big but most of all their stress is through the roof. When this scenario takes place treading water becomes their main focus. This is completely understandable but sometimes it can make the short sale suffer. The motivation slowly dewindles and the speediness and urgency that was once there starts to fade. This scenario happens way too often with short sales. I only have one piece of advice. If you are doing a short sale, stay motivated and be as helpful and productive as possible. Stay a float but don’t lose the hope of being on land some day.

Thanks for reading.

- Jeff Buettner
Real Estate Wiz Kid
Arizona Short Sale Realtor & Negotiator

Who can tell me what the Phoenix real estate market is like today? Because I need help with a Phoenix short sale!

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5 Responses to “Checked Out Homeowners & Short Sales”

1. Angelina Nobles says:

   January 21, 2009 at 5:57 am

   I really agree with you. This is great article.
2. James Boyer says:

   January 23, 2009 at 9:54 am

   We are finding in my area that short sales are a waist of time from the buyers perspective. The banks are not approving much of anything, even when the offer is for the actual listing price.

   I wrote 3 offers on short sales in the early fall, and only one of them came back with a counter, which was 10% above the price it was listed for in the MLS, and within 5K of a similar condo for sale non short sale and in good condition, and was not selling after 60 days on the market. That made it a total no sale. What are the banks thinking?
3. Derek Weeks says:

   January 24, 2009 at 7:41 pm

   Yep, short sales can be difficult and stressfull from a buyers perspective. The best way as an agent to try and avoid this type of frustration is to contact the listing agent and really grill that person to see what their knowledge, experience, and what stage they are at with the short sale.

   Good post for sure.
4. Jeff Ellis says:

   January 26, 2009 at 4:07 pm

   So true. Great information. thanks for the post
5. Costa Rica Real Estate Expert says:

   January 30, 2009 at 4:42 am

   Good insight; there’s certainly a dynamic of the seller and the difficulties they are going through financially and emotionally. As a result, they sometimes “check out” as a method of avoidance. But as you rightly put, it’s to the seller’s advantage to maintain optimism and forward momentum on the deal.