Michael Sells The Bay

As predicted, the increase in short sales and foreclosures is bringing to the market a new wave of home deals for the buyers ready and willing to have the patience to see the process through to the end. And with no end in sight to the record unemployment nor to the kind of long term sustained growth in the economy necessary to overcome the deficits, those shopping for homes in this state and others are finding the lure and excitement of a great deal tempered with the demands and delays of the short sale process. With over 8 Million homes qualified for federal and state assistance on their mortgages via the economic recovery efforts of the Feds, in the past three years only 200,000 homes have been helped with loan modifications - JUST 2.5%!!! At that rate is will take us another 107 years to help the remaining families and home owners in need...  And now we can look forward to our Federal Government to help us with our Health Care??? Please..... The one saving grace in this situation is that those home owners I am working with listing their homes NOT IN SHORT SALE have an unexpected edge in the market that did not exist two or three years ago. And again we have the Federal Bailout Programs to thank. Because buyers, sellers, agents and lenders all know the difficulties in consummating a short sale - Highly qualified and motivated buyers who understand the risk of waiting on a "good deal" short sale and the corresponding expected mortgage rate increase that could negate much of their "Deal" when they close at a higher rate  are now demanding that agents only show them non-distressed homes for sale. And now there are more buyers than homes for sale, thus many homes are selling for more than ask with multiple offers. So - if you are a seller who does not have to sell, and you have good credit, and some cash on hand, and you don't mind placing your belongings in storage for a while and live in a rental, then you can take advantage of the market in this way - List your home with me and let's sell it in a sellers market, then go shopping for a short sale and low-ball the offer this summer and fall when everyone is going to be all tied up in the mid-term elections! Foreclosures and Short sales will be rampant again, we can wait out the banks, and still get a good deal as I suspect the Feds will be making an effort to shore up the interest rates again to keep them below 6%! But I warn you, this is not a game for the weak of heart nor the impatient of soul. And this is EXACTLY why you need my assistance to sell your home for the highest price, and to negotiate your lowest possible price on your next home! It takes a seasoned expert negotiator to keep both processes on track to a positive and rewarding outcome! Michael Thomas Realtor, E-Pro Keller Williams Realty Palo Alto, CA Menlo Park, CA 650-206-9225