The Long and Short of Short Sales

Being in the real estate business, I come across a lot of interesting situations—really, no two transactions are alike. While many are upbeat and uplifting, like seeing someone lay eyes on their dream home, others are a sad but true reality when homeownership and hardships meet.


We’ve all been familiarized with short sales and foreclosures by the media, but as a Certified Distressed Property Expert (CDPE) I see it firsthand. Part of my job is to help homeowners avoid the tarnishing effects of a foreclosure by opting to do a short sale instead. Short sales have many benefits over a foreclosure, such as being able to buy another home within two years of closing (as opposed to waiting seven years with a foreclosure…who knows how high rents will be then), a credit score ding of 30-130 points instead of a whopping 200-400 points, negative consequences with auto and other loans, and the list goes on.

One of the many myths out there about short sales is that they are impossible and never get approved. Trust me, I’ve helped buy and sell short sale homes before and negotiated with the banks myself—they can be done. Having someone well-versed in the intricacies is critical though to a successful short sale for both buyers and sellers. They are indeed possible.

One fact is that short sales often are great deals because there are less buyers for them since some people steer clear, thinking they’re going to be a hassle. Are you looking for a deal? I just listed this short sale in Longmont at 6 Dartmouth Circle. It is in a great neighborhood on a beautiful lot, ready for your personal decorating touches!