I’ve been known to say that I am much more popular now, as a short sale aficionado, than I ever was in high school. I’m not vain, and I realize that right now, I actually have something that lots of people want—information about and experience in the distressed property arena.
This morning I caught an article on the Internet entitled “Three Reasons Why A Short Sale Agent Should Be Your Best Friend.” And, after perusing the article, I realized that, apparently, it’s not just me who has noticed a sudden increase in popularity.
According to Eric Wind, the author of the article, these are the three reasons why lenders and real estate affiliates should buddy up to a short sale agent:
- Short Sales are on the rise like never before. Most folks would agree that unless the banks start doing some heavy-duty principal reductions, short sales will continue to be a hot transaction in 2012.
- You will become an indispensable resource to real estate agents. If lenders and other affiliates become savvy in the short sale world, they could provide additional support to real estate agents.
- Every short sale listing can lead to seven transactions. I’m not sure how he calculates this, but it makes sense that short sales can be a good lead source.
There are tons of other reasons to begin to embrace the short sale transaction in 2012. Statistics from the US Bureau of Labor show that the national unemployment rate will not return to “normal” (5%) until approximately 2017. Knowing that unemployment is a hurdle to paying mortgage and receiving a successful loan modification, you can bet your bottom dollar that tomorrow there might be a few more properties available for short sale.
Sidebar: I just wanted to wish all my kind readers a very happy new year and nothing but good things for 2012.
Photo: flickr creative commons by Leo Newball, Jr.