The Face of Real Estate
Monday, April 12th, 2010
It is amazing how the whole face of Real Estate has changed over the past 20 years first we had the Resolution Trust Company set up in the 1980’s for REO’s, which swept the nation for 10 years and is still with us today, now we have the National Short-Sales era upon us. It is a always changing Market and contracts as well as rules and regs have changed so much we have an ever changing face of Real Estate as we know it. Longer contracts more complicated contracts with more and more paper work which no one seams to want or most don’t know how to fill out correctly. We as realtors must alway be vigilent and cross our T’s and dot our I’s for if we don’t then it will be us who pays the price not the Banks or Title Companies.The national short sale program surged 407% this quarter. According to the TARP Quarterly Report to Congress, the HAMP program resulted in only 166,000 permanent modifications from the 3.3 million homeowners who requested help. With the focus now shifted toward short sales, real estate professionals are registering to assist in the nation-wide initiative to reach out to homeowners in need of short sale assistance. We as professionals need to be sure we are up to date on the process of short sales and the forms that go along with them there are not short cuts.