[This article] gives the astute Realtor ways to gain an advantage when seeking out sellers where none presumably exist. Persistence and technology are the keys to success.
Though lending has not loosened up as much as we would all like, more residential mortgage programs are coming online, as the money behind mortgage-backed securities are seeking the yield that is missing in the fixed income world.
In addition, the question of whether or not the Debt Forgiveness Act will be extended beyond the end of the year is looming large in the minds of homeowners still sitting on the short sale fence. For those that are, time to get off the fence. These potential sellers are sitting on a tax time bomb if, in fact, the act is not extended (many economists and analysts feel it will not). Educating these potential sellers in the actual timeline to short-sell is most important as you discuss options (6-7 months is the average, so, yes, now is the time to get that house on the market! I will be happy to share the timeline I use– just ask. Combine this with the rise in value– that should be taken advantage of– and we see compelling reasons to sell now.
There is plenty of inventory out there. It takes work and thinking outside the box to unearth it. Contact me if you need additional nuggets to find what others miss.