The Coming Tsunami Of Short Sales_Are You Ready? (Video)

There is a huge wave of mortgage defaults building and it will hit the U.S. real estate market soon. With it we can expect nothing less than a Tsunami of short sales. A total of 3,957,643 foreclosure filings — default notices, scheduled foreclosure auctions and bank repossessions — were reported on 2,824,674 U.S. properties in 2009. This was a 21 percent increase in total properties from 2008 and a 120 percent increase in total properties from 2007, as reported by RealtyTrac.com. The report went on to show that activity was up 25 percent from 2008.

If you are one of the realtors left standing in this "market of doom," What are you doing to prepare for the heavy volume of short sales? If you're like many realtors I have spoken to, you are bemoaning the affects of the downturn of the recession and how it has killed your business. You may have got a taste of short sales and found them bitter. Well, listen up. Now it's time for the downturn in the housing market to pay you big dividends. The rewards are there for the taking but you must reach out for them.

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In order to best be prepared to handle as many short sale listings as you possibly can, you must first clear off your plate. Many realtors who decide to work on short sales find themselves getting bogged down in the drudgery and tedious tasks of negotiating and follow up with the lender. By clearing off your plate, I mean you can't afford to get bogged down in the negotiating tasks. This will free up your time to schedule more listing appointments and concentrate on marketing and sales. That's right, SALES. If you are a realtor, you are a SALESPERSON.

You might already be doing the math in your head, calculating how much extra time you spend on short sales. If this were 2005, you wouldn't be caught dead concentrating on short sale listings because you think they are too much work. Well, I have a double news flash for you. 1. It's not 2005, the regular real estate market is not hopping like it was in 2005 and 2. Short sales do not have to be a lot of extra work.

The economy has given realtors a bunch of lemons, MAKE LEMONADE!

Delegate the negotiations out to an experienced law firm that can handle your short sale listings and see them through to the closing.

Consider trying Timothy J Cotter, PA for your short sale negotiations but first I'd like you to watch this video report by 60 minutes that describes the Tsunami of mortgage defaults that are on their way. 60 minutes didn't really finish the equation by spelling out that we would be hit with waves of short sale listings. Of course, why would 60 minutes not make that connection? They don't get paid a commission for short sale closings.

Close more short sales.
If you are listing agent or a broker who wants to speed up the short sale process, the best way to do this is to have the short sale experts negotiate your short sale listings. Bill Burress at Timothy J Cotter, PA can help you get your short sale listings to the closing table. Timothy J Cotter, PA offers a short sale negotiating process that is no cost to realtors and realtors keep their commissions.


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[Click here for an informative video regarding the short sale negotiation services of Timothy J Cotter, PA]



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