Get Real REI Says Short Sales May Soon be Half of the Foreclosure Market
Only Three Years Ago Bank Approved Short Sales Were Only One Eighth as Prevalent as Foreclosed Homes, the Tide Has Turned.
Marietta, GA, April 20, 2010 --(PR.com)-- The Real Estate Investing Minute, a weekly web tv show that informs and teaches real estate investors about investment strategies and real estate news spent thirty minutes this week interviewing short sale expert and real estate investor, Bob Massey.
Mr Massey provided an update to the current foreclosure and short sale market. One statistic he mentioned was three years ago there were eight foreclosures to every one successful short sale negotiation. Just last year that number had shrunk to 3.8 foreclosures to every one short sale. Projections show, according to Bob, the number will be in parallel at one to one before the end of 2010.
Bob shared with co-hosts Judson Voss and Allison McArthur that banks have just started to move more quickly in negotiating their short sales. In one example shared, Bank of America came back to Bob with an answer on their short sale property within one month. This would have taken three months in the not so distant past. This and other activities are signs that the banks are trying to remove their toxic inventory before it becomes a foreclosed home and a part of their REO inventory.
Mr Massey has a unique approach to the pre-foreclosure, short sale market. He chooses to leverage his time and expertise by enlisting the help of local real estate agents to perform most of the field work while he specializes in negotiating with the bank and lining up end buyers for the property.
To watch this episode and learn more about today’s short sale and pre-foreclosure market, visit http://thereiminute.com/profiting-from-short-sales and find out how you can work with investors and realtors around the country to bring in more short sale opportunities.
For more information about real estate and other real estate investing information and news visit http://thereiminute.com The Real Estate Investing Minute is a twice weekly web tv show brought to you by Get Real REI one of the top iTunes business podcasts.
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Mr Massey provided an update to the current foreclosure and short sale market. One statistic he mentioned was three years ago there were eight foreclosures to every one successful short sale negotiation. Just last year that number had shrunk to 3.8 foreclosures to every one short sale. Projections show, according to Bob, the number will be in parallel at one to one before the end of 2010.
Bob shared with co-hosts Judson Voss and Allison McArthur that banks have just started to move more quickly in negotiating their short sales. In one example shared, Bank of America came back to Bob with an answer on their short sale property within one month. This would have taken three months in the not so distant past. This and other activities are signs that the banks are trying to remove their toxic inventory before it becomes a foreclosed home and a part of their REO inventory.
Mr Massey has a unique approach to the pre-foreclosure, short sale market. He chooses to leverage his time and expertise by enlisting the help of local real estate agents to perform most of the field work while he specializes in negotiating with the bank and lining up end buyers for the property.
To watch this episode and learn more about today’s short sale and pre-foreclosure market, visit http://thereiminute.com/profiting-from-short-sales and find out how you can work with investors and realtors around the country to bring in more short sale opportunities.
For more information about real estate and other real estate investing information and news visit http://thereiminute.com The Real Estate Investing Minute is a twice weekly web tv show brought to you by Get Real REI one of the top iTunes business podcasts.
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Contact
The REI Minute
Marv Uetel
704-664-9687
http://thereiminute.com
Marv Uetel
704-664-9687
http://thereiminute.com
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