Admin

Spam prevention
Rainmaker
5,245,648
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

I have not heard this for the Charlotte area.

Nov 21, 2015 07:56 PM
Rainmaker
5,417,563
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Not in 2016 in my opinion. Possibly late 2017 or early 2018 if prices keep escalating and lending standards loosen!

Nov 21, 2015 07:42 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

There will be a statistical increase. But nothing close to the Tsunami of 2010.

The increase will be driven through the culmination of expired temporary measures. economic hardship driven by health-care costs, consolidation of services to fewer resources giving the statical increase the appearance of a surge.

Although statistically higher than the before 2005 numbers. (yes, short sales have existed long before Bank of America bankrupted so many citizens) short sale occurrences will not be meaningful regarding their influence on real estate sales or the economy.

Nov 21, 2015 10:55 PM
Rainmaker
2,818,606
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I hope not.  But, I'm sure there will always be some.

Nov 21, 2015 08:54 PM
Rainmaker
4,460,026
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

We don't pay attention to this market. We strickly deal in "regular" sales...

Nov 21, 2015 07:59 PM
Rainer
213,318
Dennis Swartz
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!

I think this will continue now as consumers see that it works, and its easier now. No reason to honor your commitment any longer, if you don't like the house, don't hang in there and tough it out just short sell it and start again.

Nov 21, 2015 07:46 PM
Rainmaker
979,796
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Sally and David - I have not heard of this happening. Home values have increased so much since 2008-2011. Short sales can only happen if home values decrease, so we will have to wait and see if that happens.

Nov 24, 2015 10:03 AM
Rainmaker
617,935
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Sally & David,
Fewer ARM’s and new construction, tighter lending sine the last time. Maybe a few but not a “wave.”

Nov 23, 2015 09:55 AM
Rainmaker
2,538,689
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Sally. Not unless there will be a downturn in real estate values in 2016, right now I don't see that.

Nov 22, 2015 05:20 PM
Rainmaker
4,321,670
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Sally K. & David L. Hanson I doubt it will be so soon. The prices are already up now - and likely to remain up for a while.

Most likely we will see Short Sales again when market goes down!

Nov 22, 2015 02:04 PM
Rainmaker
2,234,761
Debbie Laity
CinaJones Real Estate - Cedaredge, CO
Your Real Estate Resource for Delta County

The coal mines are a major, big money, employer in my area. We have seen over 600 jobs lost in the last few years and more are expected. I think we might be seeing more short sales and foreclosures coming my way because of this. Although real estate is local.

How many economies are based upon mining these days? I really am an extremely rural market. With this statistic...now maybe people will get that. I have 29K people in my county and losing 600 jobs is a big deal. 

Nov 22, 2015 08:53 AM
Rainmaker
2,826,355
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

They haven't raised fed rates for ten years telling us the economy is shaky-waky. Prepare for anything based on whose running for President too

Nov 22, 2015 08:19 AM
Rainer
150,466
Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

I listen to some financial experts who say that there are large chunks of properties that were bought out of foreclosure a couple years ago by large investors, and those are nearing maturity where they can sell them now. That may affect the market adversely, driving down prices, and in turn causing hard-ships for those trying to sell because they NEED/HAVE to move.

Only time will tell, not going to fret about it though.

Nov 22, 2015 08:18 AM
Rainmaker
1,529,664
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I have not heard it, but I wouldn't rule it out.

Nov 22, 2015 03:36 AM
Rainmaker
3,416,322
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I am not sure about a wave. I am seeing a wave of new foreclosures, virtually all of which got loan modifcations and are or have defaulted once again despite new lower or even 0% rates. If the fed raises interest rates, look out.... it could halt things in their tracks.  Even though rates would still be low, it is how the public sees it

Nov 22, 2015 02:12 AM
Rainmaker
5,584,078
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

OMG...I certainly hope not...but I know there are many who are convinced that it will happen.... will it never end!!

Nov 22, 2015 01:19 AM
Rainmaker
1,466,257
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Sally K. & David L. Hanson In this business anything is possible. I'll just wait and see what happens.

Nov 22, 2015 01:19 AM
Rainmaker
4,434,227
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No. I do not think so

Nov 22, 2015 12:25 AM
Rainmaker
4,689,082
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I haven't heard of this --- real estate is local.  What may be true in my market, may not be so in others.  

Nov 22, 2015 12:11 AM
Rainmaker
5,959,926
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

In Denver they are predicting another year of great sales and value increases.  Our distressed market is very minimal.

Nov 21, 2015 11:58 PM
Rainmaker
3,986,423
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

There have been some rumblings, but I don't see a wave, although, I have had a large number of sellers that got $8,000 for buying a home that can't make it...that may be the wave.

Nov 21, 2015 11:27 PM
Rainmaker
3,073,909
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Coldwell Banker Realty

News to me - but we are certainly equipped to handle them if they surface

Nov 21, 2015 10:54 PM
Rainmaker
1,677,896
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

This is news to me.  I haven't heard anything about it in our area. 

Nov 21, 2015 10:42 PM
Rainmaker
1,157,841
FN LN
Toronto, ON

We never had a wave of short sales and don't expect a wave in 2016.

Nov 21, 2015 10:36 PM
Rainmaker
1,745,352
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Yes, and unfortunately, I do not think any government agencies will step in to help out. Banks will have free rein to put folks on the street this next time.

Nov 21, 2015 10:23 PM
Rainmaker
1,600,031
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO
Big Block Realty 858.232.8722 - La Jolla, CA
Serving Coastal San Diego, Veteran's & Seniors

We do not have any of the factors happening here that caused it in 2006.

In fact we have the opposite evidence:

  • The banks aren't over investing in non-performing notes, because in part, the less non-performing notes.
  • strong economy & job market.
  • shorts sales have never ended here, just diminished-where as in 2006 I'd never seen anyone have a pre-foreclosure need in San Diego since the early 1990's.
  • appraisers are ultra-conservative here to the point of being a pain in the butt.
  • I'm not seeing anyone using their homes like ATM's here anymore.
  • huge demand, no supply
  • prices are not climbing at unsupported rates (they were in in The Bay Area though).
  • lending is still like going to the proctologist; especially now with TRID.
  • But, I worked through and survived the single biggest Depreciation in history since the Depression, so if I did it before, I can do it again. I'm a CDPE x3 certifications, a charter member of Equator and about 300 distressed properties notched on my desk.
  • What are you seeing in your area that leads you to believe otherwise?
Nov 21, 2015 09:47 PM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

As there are still many under water it could be specially with the profits the banks are making.

Nov 21, 2015 09:46 PM
Rainmaker
8,076,350
Roy Kelley
Retired - Gaithersburg, MD

I do not see that happening in our area. 

Nov 21, 2015 09:25 PM
Rainmaker
1,713,576
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Not a wave, but after 2007 the awareness of doing a short sale instead of a foreclosure was heightened. There is always some sector of the economy in some area that is falling off, like energy in my state that puts people in jeopardy.

Nov 21, 2015 09:16 PM
Rainmaker
2,418,022
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

yes - I am getting about 4 a month now.

Nov 21, 2015 09:08 PM
Rainmaker
927,898
Jeff Pearl
Samson Properties / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I'm still seeing short sales here, and I know of some upcoming short sales. They will continue whetehr they come in waves or not, I can't predict.

Nov 21, 2015 08:30 PM
Rainmaker
846,475
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Someone mentioned that to me on Wednesday that they say it on the horizon.

Nov 21, 2015 08:19 PM