Are All Real Estate Sales Short Sales or Foreclosures?

If you are injured on top of a mountian and 3 helicopters land to pick you up, which one should you get in? Should you get in the Army Medivac Helicopter, Flight for Life or the News helicopter? The answer -- much like the foreclosure situation -- is not so obvious. On the mountaintop if you can still crawl, crawl to the Army Huey because you will be rescued for no cost and things work out fine. If all you can do is move your mouth, say Flight for Life, because they have the best trained medical people and best helicopters on the planet. For no reason whatsoever, should you get into the News helicopter because they won't have enough power to take off again with a passenger and you will probably die.

If you have a chance to buy a short sale property, just say no because at the last second the lender will change their mind and they won't go through with it. This is a fact that all Brokers know. A property that has been through foreclosure and is banked owned is only slightly better. The real values in today's market which account for 7/8ths of the closings, is a seller that wants to sell bad enough on a clean transaction and the deal gets done.