In an interview with HousingWire, Equator’s Chief Operating Officer John Vella said he believes 2011 will be the year of the short sale. He attributes a good deal of this to the foreclosure volume and current/pending REO inventories. With these numbers sky-rocketing, mortgage loan servicers will need to be more flexible about doing short sales.
Vella estimates this increase could be 25% or more, provided servicers are properly staffed and using proven short sales technology. (Read that as his subtle way of promoting Equator software!)
Agents, if you have real estate investors in your database, now would be a great time to share this predicted increase with them. Purchasing short sales can be an investor’s gold mine—and yours.
Toni Patillo & Associates
Broker Of Record l DRE#0313287
Keller Williams Realty Santa Monica
2701 Ocean Park Blvd., Ste. 140 • Santa Monica, CA 90405
Office (310) 482-2035 • Fax(424) 744-4148