Short-Sales in Sonoma County, California–WHOA IS ME! I had a client call me yesterday with a list of three properties. I pulled up all three and everyone was a “Short-Sale”. This client is in that market “sweet-spot” of $0-$250,000. But I’d also include ANYTHING under $300,000. There was a total of 5 photos between the THREE listings. This is, in MY humble opinion, complete and utter BS!! We are allowed 24 photos PER listing in our MLS. WHEN did it become the NORM for a “Short-Seller” to ONLY have 1 photo in the MLS? Do the Realtors NOT realize we use these sales for comparable sales? What does ONE photo do for us when we are using these properties for comparables? Secondly, is this a tool to DISCOURAGE offers? Is the property on the market simply to “Stall” foreclosure? Why do I say this? Two of the properties had showing times of 2-5pm on Tuesday and Wednesday ONLY!! Another, 24 hours notice! And this is a SELLER!! NOT a tenant!
So what gives? When did a Short-Seller become a “protected class” of Seller? No open houses, NO broker’s open houses, One photo, 24 hours notice, ONLY showing ONE DAY between 1 and 4pm. YES–this is OUR NORM when it comes to Short-Sellers. It’s frickin’ maddening!! Why is this? Because the Seller doesn’t really give a damm if they DO the short-sale. They probably have NOT made a payment in months, given up on the property, but a CPA or accountant or FRIEND told them they could get OUT of their house, have little credit hit and walk away owing the bank NOTHING. You THINK this would be a great incentive but NO–they treat the process with disdain and indifference.
We have had Sellers selling “short” state they will NOT clean up their yard waste, debris, personal junk in the backyard. One agent actually writes an addendum stating this. I’m putting forth a Short-Sale Proclamation shortly-WHAT WE, as a team, will DO to sell your home as a Short-Seller and what we will NOT do! Stay tuned!!