They do NOT work!

I was having success with closing short sales. No longer. The banks are choosing to foreclose. I have been told it's a financial decision. The government is allowing banks to open up last year's tax filings and carry losses backward.

Ahh the short sales, in some of our appraisal service areas the lenders are actually causing a double down market. Yep thats right where we see a clear leveling and then the lenders start forcing the market down. Yes we dont compare short sales to arms length sales but that doesnt help the sellers who have a comparable house on the market next to a lender foreclosure/short sale even in good condition. If you are a buyer and the properties are comp. why pay more? I just had one that since Jan 2008 the lenders affects on the immediate neighborhood clearly showed a price decline of over 30k.

We have lenders accepting short sales and because of the number of short sales and foreclosures they are selling properties far below what they were worth well before the markets started increasing. These used to be acceptable at a 10% discount and foreclosures at a historical 15-20% discount investors were tickled pink to find a house is a profit margin of 25%.

This makes actually no sense, why would a lender foreclose on a property, collect on MI and then just bottom out the market because these are typically the same banks that have loaned on other homes in the market area. The lenders are not getting REO appraisals they are ordering BPO's at 25.00 a pop to save 300-350 dollars and causing more problems in the long run.

Mark my words the current declines are not due to buyers the lenders are doing this to themselves- they are insured every which way and the home sellers are the ones getting stuck in this mess.Just like they are required to hire an appraiser to loan on a property the lenders should also have to hire an appraiser to short sale, foreclose on a property thereby insuring a more stabilized market place.

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm

I wanted to welcome you to active rain! This site is a great place for learning, as well as sharing. I've been here a year, and can trace some serious commission income to the referrals and clients I've generated from it.  My advice is to blog often, and blog about a variety of things.  People want to learn about you.  Good luck!

With 106,219 plus members and counting, welcome to the Active Rain network.  I hope you enjoy your stay!  Should you ever have any questions as they relate to bad credit, credit repair, identity theft, or credit restoration, please do not hesitate to contact me at (954) 581-5050. 

Welcome to Active Rain! This is a great site for lead generation and information. We all share idea's & thoughts with everyone. If you have someone relocationg to South Carolina Area, I'm your team. Enjoy blogging and have fun!

Hi, welcome to Active Rain! I hope to see more of your blogs in the future. Learn from others, share your knowledge and experiences and enjoy yourself! Take care! ---Kirk.

Welcome to the Active Rain community. You have chosen a great site with tons of information you can learn from.  Have fun with it and hope to see more of your blogs soon!

Welcome to the rain! You've joined a great place to network, make and meet new friends and discuss lots of interesting topics. I see you are already off to a great start! Stop by if you get a chance. I would love to hear your feedback on our thoughts! Well, have great time and ENJOY. Look forward to seeing you around.

Welcome to Active Rain. I hope you will enjoy it and learn from it as much as I do. Happy Blogging.

I have one that I have listed right now that has an offer on it and they are countering back with more then the house is worth. They aren't really wanting to do them it seems like!

Congratulations on signing on as a new member of ActiveRain. Being a new member myself going on my third week and only posting a few blogs so far I truly see the awsome advantage that this truly can be; and only the beginning of a healthy and wealthy relationship of abundant professionals. Everyone has been so very kind. Hope to see your blogs in the future.   Best of Luck to all of us,  Nance

Hi Theresa, Welcome to AR, Be a Blogholic and start writing your own blog soon on AR. All the best for your RE business. This is the right place for customers, friends, realtionships etc.

Best - Sash 

PS: FREE blog traffic strategy video...Hope this will help you... click here

Hello, welcome to Active Rain! This seems like a wonderful environment to network as well as learn from others. I hope you enjoy yourself and participate often in the Active Rain environment!

I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.