Just got that email.

I just got an email from my best client to take all properties off the market, continue the preservation maintenance and freeze on the closing. It is a good thing I haver some short sales and regular sales.
Will keep you posted and please share your experience if you have any.

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Replies

  • Me too! Only a few thankfully... and just one of those under contract.
  • Oh wow.....I have heard of this happening in my area as well. That's a bust...
  • Must be due to what congress is doing related to the "unjustified foreclosures"

    This is going to get very messy going forward...
    • Well this is an election year, that is the only reason congress is trying to do something that should've been done 4 years ago when this mess started. But well, that is something that we have to deal with, maybe this will help some of the none foreclosure listings and hopefully help some owners get a loan mod. Maybe this is a way to control the inventory, and avoid another drop on prices.
      We still have a lot of things to be thankful for and a lot of opportunities out there to conquer and be successful.
      • Who is your client? We just had HLS that got stopped during the B of A conversion.
  • Yikes! What percentage of your active listings does this impact?
    • 65% of active listings and 75% of properties under contract. 2 were schedule to settle this week.
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