Hey mods, is there any chance that we could have a separate board for short sales. They are a huge part of the business today and will likely be for several years to come. I believe if short sales had their own board, it would be one of the most active on this site.

Not sure if this has been suggested before, but I've never seen the question come up. I know I would frequent it often. We have some great real estate minds here and I'm always looking to learn more... especially in a niche that is ripe for the picking. Thanks.

I second this request!

me too!

Hm they are getting less, I do not think is worth it to open it for one more year.......Let's keep it on REO...

I disagree. More and more people are being told to try a short sale as an option against foreclosure. A short sale board would be appreciated.

Bumping as this would be incredibly valuable for those of us in markets where a foreclosure is a rarity and 90% of the inventory are short sales.

No short sale is a big part of the listing process however less then 10% of the actual closed bussiness.
Plus the issue with short sales is everyone claims to be an expert yet no nothing about short sales.

Short sales are big and growing over REO as lenders see the benefit. We have years of short sales left. We havent even touched the tip yet. A board to discuss would be great.
There is not many places to discuss short sales amongst my peers. I feel this would be the perfect platform and would help to grow the site.

Where do you find short sales

In your street, on the next block, everywhere...

I was going to request that we have a Short Sale forum section seperate from the REO section a while ago. I truly do specialize in short sales and they are 70% of my local market here in Las Vegas. I would like to be a moderator in this new section as well. I have been a major contributor to this board for the past 5 years and would love to moderate a Short Sale forum.

Admin, please get back to me on this and let me know if I can do this.

That will be fantastic, I'll vote for you to do so : )

Wow, those are some extremely high numbers on your market. Our market sees about 15 to 20 percent in short sales. However, with more incentives for banks to avoid foreclosures perhaps that number will rise a bit.

We are at about 65%-70% here also but only about 40% of those are actually closing. Agents are pricing them too low and the bank is saying no and it goes REO anyway in the end.

Agent does not have to price them low. This is a mistake. I usually price them around or little under the market. After I receive the bank counter, I list it on the right price. If the bank ask for a lot of money, which happens often, because of the wrong BPO, I just drop the listing. Actually I object the BPO or order independent appraisal, but some times that does not help s well.