The Short Sale Circle of Life

October 15, 2009

I am the type of person that lives in the day.  I deal with the cards that I’m dealt.  When life gives me lemons, I open up lemonade stands and crush historical industry sales records for citrus flavored beverage sales.

From a Real Estate & Economy perspective, we are in the market we are in in October of 2009 so I’m making myself an expert with short sales.  I like short sales and at IET Real Estate we welcome them.  The agents at IET are happy to have an opportunity to help a client out of a jam and continue to provide Real Estate services to members of the Los Angeles County communities we serve.

As a former wholesale loan rep doing a short sale is very similar to my old job.  You put together a credit package to get reviewed by an underwriting department, they say no, you say yes and explain why with facts, there is some back and forth, people get impatient, people get mad, everyone wants to close, blood pressure levels rise, transactions get perilously close to falling out of escrow multiple times, I work hard and make sure everything stays on track, it does, escrow closes, everybody is happy and they refer me more business and the whole process starts again.

This is what I call the Short Sale Circle of Life.

Because I enjoy the short sale process, I’m always striving to get better at it.  Part of this is doing research on ever changing industry guidelines and staying educated.

While doing this, I recently came across the blog of a realtor in Virginia by the name of Danilo Bogdanovic.  His blog is awesome.  I particularly like his content on short sales and distressed property. As someone who does a lot of short sales in Los Angeles, I can tell when someone knows what they are talking about and from what I’ve read on Danilo’s blog, he does.  While Danilo does Real Estate on the other side of the country alot of the information he shares about handling short sale transactions and negotiating with loss mitigation departments is as relavent to Los Angeles Short Sales as it is to Virginia Short Sales.

If you are a buyer, seller or a fellow Real Estate professional looking to educate yourself about the realities of the short sale process I encourage you to check out the section on short sales and distressed property on Danilo Bogdanovic’s blog at:

Thank you for reading.  Until next time…

M. Ben Nicolas
IET Real Estate
310 874-1278 cell
310 626-9690 fax
CA Lic # 01458128
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