Welcome!




Expand Your Education with These Courses from
Becoming a Successful Sales Professional: Skills for Sales Success: Part One.
Business Creation - Prospecting: Skills for Sales Success: Part Three.
Negotiating Skills: Skills for Sales Success: Part Six.
Territory Management: Skills for Sales Success: Part Eight.
At Home with Diversity.

Distressed Properties: Are Short Sales and REOs Still Driving Business?

Interested in more details on this topic? Click here!

Mark Stark: Some sellers in our market are still challenged, mostly at the low end, which was overbuilt in the heat of the last upswing—and we’re struggling to some extent today with lenders being overly cautious now. But there’s no question that traditional business is driving the market as a whole. Property values are up, there’s a lot of pent-up demand, and even with interest rates ticking up, they are still at near-historic lows.

Kenny Parcell: In Utah, we’re seeing a complete turnaround, with demand high and inventory at 15-year lows. Lending is tight, and while prices are steadily ticking up, appraisers seem to be looking six months back in the rear view mirror, which presents another struggle. At the same time, rental prices have gone sky high. It’s a good time to show people that buying a home could wind up being cheaper than renting.

Jason Waugh: By early summer, distressed properties in our market had dropped from being 33 percent of our business to nearly half that number—and the real estate picture has changed drastically. Not enough houses, rising prices, often multiple offers—especially now, with buyers keeping an eye on rising interest rates.

JB: We agree the recovery is moving fast—and we know that a price rise of even 1 percent may be enough to take a seller out of a short sale position. So what’s the action plan for brokers and agents now?

JW: I think consumer education is key. Go to the consumer and tell the story: “Have you considered selling? You may have more equity than you think.” Smart brokers aren’t waiting for the listings. They’re out there creating the market.

Continue Reading 1 2 3

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>