Short Sales in Gateway, Fort Myers

By September 28, 2010 Market Report No Comments

 

short sales in Gateway, Fort Myers

Short Sales in Gateway, Fort Myers

We are having better luck with Short Sales in Gateway, Fort Myers.  Why is that you may ask?  There are several reasons for this improvement.  In the first place lending institutions could not have predicted the calamity that occurred.  They had operations that were sized to accommodate the consistent trickle of cases that were the norm.  When the real estate bubble burst and economic turmoil was released they were caught short.  Not only were they grossly understaffed, they really did not have a strategy for handling such a situation.  Why would they?

What we see now is an organized response to this horrible occurrence.  Banks have now had time to assess the situation and their own response to them.  They are finding out that policies that worked on a smaller scale do not work as well on this larger scale.  Of course their goal is to minimize losses.  They do not want to establish policies that encourage people to walk away from their homes and create losses for the bank but they have found out that foreclosures are very costly answers to the problem.  Foreclosures are time consuming and very costly.  The property is tied up for long periods of time while the entire legal process is carried out.  In most cases utilities are disconnected which leads to a rapid decline in the property.  What is left is a property with deteriorated value, large legal expenses, HOA and other related expenses, and more.

Careful review of all this has led lenders to take a closer look and create easier and more efficient methods to handle Short Sales.  Take a look at the short sales in Gateway, Fort Myers.  Until now I have steered most clients away from short sales due to the uncertainty in getting them to work and I still evaluate each and every client before I pursue it.  Even though the process is much improved it is still dependent on many factors nearly all of which the buyer has no control over.  The good news, many are getting done and the process is improving.  I now feel more confident in recommending a short sale for buyers that do not have a timetable for completing a sale.  For someone who is looking for a second residence it can work out quite well.  The other group that can benefit is investors.  They can target quality properties and wait to see the outcome.  If one does not work another will.

All of this leads to my conclusion that Short Sales in Gateway, Fort Myers are becoming a viable alternative for certain buyers.  Take a look at the available Short Sales in Gateway, Fort Myers.  Our market is always changing and you can bet that the market for short sales is going to change.  Allow us at the Dohack Group to assist you with Short Sales in Gateway, Fort Myers.

Information Provided by:

Brad Dohack
The Dohack Group of Absync Realty
www.DohackGroup.com
p: 239-963-4811
f: 866-742-2132

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Licensed REALTOR® with Absync Realty

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