Excellent piece on short sales on NPR today. Hits the nail squarely on the head, and at this risk of sharing this with the millions of readers of this blog, resulting in a grinding halt to the economic turnaround currently being propelled by the 8000.00 fed tax credit and the new 1500.00 state tax credit, I will share it with you now. But please, if you choose to avoid short sales after this, go ahead, but don’t avoid the market altogether! The country needs you, buyer! But seriously, the piece you can access here is less a tutorial and more a cautionary report that is really worth listening to. If anything, it actually understates just how trying they can be. After listening, or while you’re listening, check out the comments section. Adds even more flesh to the discussion. As a realtor, I can tell you that with short sales, the biggest concern is that no matter how much you try to protect your client, there is always that gnawing feeling that you are somehow missing something because the rules and hoops seem to constantly evolve mid-transaction. A general fog seems to shroud all involved. But give me foreclosures all day long. They are like taking candy from a baby after working a short sale….
