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Are short sales worth the trouble?
December 15, 2009 03:42PM
December 25, 2009 at 12:21 pm, Anonymous said:
Not in NY – you’ll spend 6 months at least chasing the deal and then in 6 months the home will be underwater. Buying anything when prices are falling is iffy at best. Plus even when you buy short sales they don’t pencil as rentals. Current rental rates vs current sales prices scream loud and clear that right now is a great time to be a renter.
December 25, 2009 at 2:16 pm, Anonymous said:
Short Sales in NY do take forever. Yet if you have a few going at once, you can see them start closing between 3 months to 1 1/2 years. Investors doing A-B-C transactions, and sandbagging approvals are screwing it up for all of us investors who are closing with the bank. Investors not closing once they get the approval do go on the banks “Black List.” If you need help with your deals, I would be happy to advise. Leave me an email at:
shortsalesolutionsny@gmail.com
December 26, 2009 at 11:56 am, Anonymous said:
Short sales in South Florida are a waiting game. You need to qualify the listing agent and the property. If the property has 2 loans, with different banks. This makes it more difficult. Our market is about 50% short sales and REO’s, which is down from a year ago, so we have no choice but to deal with them.
December 26, 2009 at 3:38 pm, serin philip said:
Short sales are a waste of time…I rather take my investors to the auction…time is money…and I don’t understand the bpo system and how that makes sense…considering brokers already know that the highest bpo (usually the 3rd) gets the listing…I spoke with another investor…and he actually goes to the bpo and talks down the broker…what the hell is going on…I’m trying to provide a service for my clients not a headache…
December 28, 2009 at 7:55 am, Anonymous said:
Aloha! aep