Short Sale & Foreclosure Resource in Sun Valley, Idaho
Memo: June 5, 2020
RECESSION: A commonly used definition of “recession” is two quarters of declining gross domestic product. While the National Bureau of Economic Research has not formally declared a recession in the United States, this is most likely due to the fact that we do not yet have the data. July will be telling.
UNEMPLOYMENT: The formal definition of “recession” aside, everyday Americans are feeling the recession already. Indeed, the Idaho Mountain Express reported on May 27th that Blaine County has the highest unemployment in the state, 21.7%. With such a staggering level of unemployment, real estate will likely witness some economic scars.
SHORT SALES & FORECLOSURE RESOURCE CERTIFICATION: During the Great Recession I stayed afloat by doing short sale and REO (bank-owned inventory) transactions. Beginning in 2009 and up until as recently as last summer, I worked with buyers and sellers to navigate through the difficult and often lengthy short sale process. I have held the Short Sales and Foreclosure Resource Certification (SFR) since 2009.
YOUR FRIENDS AND CLIENTS: If you have clients or friends who are uncertain about their financial future and need to talk to someone about their real estate options, including forbearance, outright sale, or short sale, I am happy to help. My job is to:
Direct distressed sellers to finance, tax, and legal professionals
If forbearance or outright sale are not an option, qualify sellers for short sales
Develop a short-sale package
Negotiate with lenders
Market property to prospective buyers and tap into buyer demand
Protect the confidentiality of your clients
I promise to treat your clients with respect and confidentiality. I know that the decision to sell a home by short sale or seek advice about forbearance is emotional. To that end, I am very sensitive to the seller’s dilemma.
Please feel free to call me with questions and concerns. If I don’t have the answers for you, I’ll dig until I find them.