JB told me today that because he reads the blog from work, he doesn’t watch the videos much – he just reads the text and comments. Because we’re still averaging about 1,000 unique visitors per day, but only get around 500 views for each youtube – there must be plenty of others who don’t watch the videos either.
I try to include the readable posts in the morning, and videos later in the day. But with the MLS inventory shrinking (only 2.2% of the houses in NSDCC are for sale), and foreclosures dwindling down, there’s a possibility of running out of video material!
So I’ll leave this by text:
From everything we see and hear, the lenders are pushing troubled borrowers towards short-selling, rather than to foreclose.
Considering that 11,540 of the 362,087 housing units in SD County are on the NOD and NOT lists, few are actually getting foreclosed lately – only 223 per week on average (2% of those in default) over the last 12 weeks:
Even worse, only 73 houses were foreclosed in NSDCC, or about 6 per week!
There was a time where being a REO listing agent looked like an ideal position to be in – won’t the shadow inventory have to clear out someday? Yes, but not necessarily by the most effective mechanism – foreclosure.
It appears that the industry is going to take the longer-term approach, and try to short-sell our way out of this mess. While I’ll stay an active REO listing agent, Klinge Realty needs to list more short sales. In April we hired Kelley Mangold, a veteran short-sale processor, and she has been doing a great job in pushing them through. With her experienced assistance, and the passing of SB 458, I feel much more confident of being able to serve those who elect to short-sell.
If you want to make sure of accomplishing something, make a specific goal.
If you really want to accomplish something, make a goal, and then tell everyone you know!
Between Richard and I, we’ll be listing at least two short sales per month from now on.
It might cut into the video production, but I’ll try to keep up with more readable posts!