12 April 2011

What is Real Estate in 2011?

I can tell you it's not big homes, fancy cars and glamerous shopping trips to Nordstroms.  It's not putting a sign in the yard and going 'sale pending' in the same day.  It's not a huge inventory of 'regular' sales.   

It's more like being smart and patient, working hard, being knowledgeable and seeing every deal to the very last minute.  You never know when something can, or will fall through.  It's about being prepared for anything and preparing your clients.  It's more short sales and bank owned homes.  It's more TLC needed.

Real Estate is rewarding in so many ways.  Being the one my clients choose to trust is a huge compliment all in its self.  I enjoy making people happy and I love seeing them excited about something so big. No matter if they are buying a home, selling a home, or both, it's a big deal to them and there is always excitement.

Real Estate has its challenges too.  I consider myself one of the best short sale agents I have seen but there are still some tuff issues that come up.  For example, having a house sold at auction while you are in the middle of processing a short sale.  A true situation: I sent in an offer through the online system this bank requires, a month and a half ago.  They were very timely with having the home appraised and letting me know they are reviewing my offer/packet.  Then nothing.  I had to initiate every status update which always had the same response ... "we are reviewing the file".  I had to submit 2 requests to postpone the sale date (a sale date is the date a home is set to go to auction) which were honored.  Then the third time my request was denied and the home sold at auction for less then the offer amount.  This is one of the most frustrating things we as agents have to deal with.  Some of these banks and their short sale processes could use some revamping and they could use it immediately! :o) 

Here is a tip: if you are in a situation where you know you will be vacating your home, you need to contact me ASAP.  The longer you wait the smaller your chances are of getting your short sale approved.  Trust me when I say having a short sale (late house payments) on your credit is much better then having a foreclosure on your credit.  It takes less time to recover from a short sale and be able to purchase a home again.  I have more detailed information on this which I am preparing for a short sale vs. foreclosure post in the near future.  If you have any questions now you can definitely contact me.  The sooner the better.