Short Sales: 23% of ALL Homeowners (with loans) Upside Down! (Video)

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Short Sales: 23% of ALL Homeowners (with loans) Upside Down! (Video)

Submitted by Tim Harris on November 24, 2009 – 2:55 pmNo Comment | Popularity: 2% [?]

This certainly has been a very busy week for real estate news….

here is the latest:

* S&P/ Case Shiller reports a 8.9% year over year decline in home values.

* FHFA reports a 3.8% year over year decline in home values.

(FHFA only tracks homes within the FHA lending limits…Case Shiller tracks all price ranges)

* Here is the big one…23% of ALL homeowners with a mortgage are…upside down. They owe more on their home than its worth. Obviously, this is a bit of a mind numbing statistic. Considering that all indications are that this number will only become larger..we are clearly in for a long period of ‘market correction’.

As an agent what should you do now? Simple, learn how to become a short sale specialist. In the past 120 days the rules about short sales have radically changed. Expect more changes in the short sale process starting early next year. Watch the FREE Agent Short Sale Secrets video and download the FREE Agent Short Sale Secrets book NOW. Get ahead of the curve…

Here is another fantastic video from Diana Olick:

Popularity: 2% [?]