This might not be a surprise, but I think there is a chance your real estate agent has been in jeopardy of losing their home. I saw this first hand on Tuesday when I took a Short Sale Certification course at the Seattle Association of Realtors. It featured short sales experts, legal council for John L Scott and a short sale negotiation firm. In this room full of agents, I quickly realized that many of them were at this class to help make important life decisions that were effecting their own families. It was sad, but true. When asking the experts questions, the agents implied that their “client” was experiencing certain situations, but when peeling back the onion it was obvious that it was them; not their clients. This was a humbling experience for me.
The last 3 years in the real estate market have been tough on all Americans. This was a reminder that it hit the people that worked in the industry as hard as anyone else. I took this certification course, because I believe the amount of short sales that will be hitting the market will be unheard of. Banks have an exorbitant amount of inventory that the market has not seen. I believe in every way that markets have improved and will continue too. With that being said, working with short sales and foreclosures will continue to be the norm for years to come. The condominium market has been seeing this first hand at the Cosmopolitan and 2200 Westlake. These were projects that saw an unbelievable amount of investors.
If you or anyone else are experiencing financial hardship, feel free to call me and I would be happy to help you understand your options.