Relocate to Wisconsin : Short Sales are "Gone" .....Aren't they ?

Short Sales are "Gone" .....Aren't they ?

    Would that this was true...that not one more time we would have to take folders full of information, explain the process and how it may happen...that renting was the in the foreseeable future for years to come. How DOES it happen ? 

Upside down houseYou think to yourself...the economy is better...in Wisconsin we are seeing new companies coming here bringing literally thousands of new jobs (We are pleased to be your Realtor/Ambassador to the Badger state.)  Are people just "living beyond their means" ?  No....Not in our experience...short sales are not entirely gone ....though less(there was a time we had 36 at once each with 2 liens.)    

            If it is not unemployment, under employment...or careless spending...what IS the reason ????     Times have empty walletchanged and with that has been a change in expectations of home buyers....we can only speak for the conditions of our market but have heard it elsewhere as well.  In our divorce niche...."The Cleavers" spent money on their children's education...medical expenses that were unexpected, very necessary home repairs...i.e. furnaces. That house that they bought years ago has been maintained...but the expectations of the buyers are different. They aren't looking for "just maintained"...they are expecting and getting upgrades...where are the quartz counters, updated baths, and upgraded appliances ?   The necessitydollars went to tuition, child care for working parents, repairs on home and cars....the money was not spent foolishly....it just was not spent on the attractive upgrades that Buyers have come to expect in various price ranges but reflect the "necessity of values" of the homeowners. 

    Now the once "happily ever after Cleavers" become the not so happily couple and divorce.....and what was good enough for them...and fit their lifestyle and their needs...does not match the "wants" of the market".  Yes, they did pay their mortgage on time....they may have some other debt...and there is nothing left to spruce the nest and makedivorce split house it comparable inside and out to the homes that are selling for the price that they wish they could get it.    Misplaced priorities ?  No we think not....an unfortunate chapter in life...and we are here to help anyone in that situation...due to divorce, death or some other hardship. 

      This has been a professional service post brought to you courtesy of Sally K. & David L. Hanson, Broker Associates with Keller Williams in southeastern Wisconsin.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Comment balloon 19 commentsSally K. & David L. Hanson • July 27 2017 11:12AM

Comments

The Hanson's are the Realtors to call in Wisconsin, and they are the experts in short sales, and so much more!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) 27 days ago

Good morning Sally K. & David L. Hanson ,

It is a fact there are unfortunate chapters of people's lives and sometimes a home just can't be maintained or paid for so there are consequences. Bad things happen to good people. Calling the Hanson's can solve the housing issue..they specialize in short sales.

Posted by Dorie Dillard, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) 27 days ago

Unfortunately marriages can fail and it is good to know the Hanson's are there to pick up the pieces and smooth out the rough road. You will be happy you did.

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 27 days ago

Good mornng, Sally K. & David L. Hanson for many, they're between a stone and a hard place.... and divorce happens.... the fortunate part of that story is they will have the Hansons to give them guidance and handle their listing...

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) 27 days ago

Sally, I am seeing a number of homes selling under what they paid in 2005-2006 but none are short sales due to equity...those are lucky sellers but there are many out there still struggling.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate) 27 days ago

Sally & David, great post, and you two are the ones to call when times are tough or experiencing a divorce!  

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) 27 days ago

Good Morning Sally and David - this is sadly the case and many are in this boat.  They had the right priorities but it doesn't mean their house is worth what they want.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 27 days ago

Good morning Sally and David. You are the best and with your insights and knowledge you make things clear and easier.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 27 days ago

Thank you very much for sharing your experience. Short sales and foreclosures are not going away.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 27 days ago

I am happy to not see them in the market, but hopefully the banks will continue to work with people in this manner when they have fallen on hard times.

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) 27 days ago

Good morning, Sally and David -- stuff happens and regardless if it's hitting a fan or merely knocking someone down, you two understand the nuances of the business and how to address the situation.  You definitely know how to make just the right pitcher of lemonade given the ingredients you have in the cupboard. 

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) 27 days ago

I have not seen many short sales in our area recently. They are not  gone .

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 27 days ago

Thanks for this post. It's good to understand how there can still be short sales with prices rising. Deferred maintenance will come back to bite you, whether it was intentional or not.

Posted by Marte Cliff, your real estate writer (Marte Cliff Copywriting) 27 days ago

Sally and David short sales are still very common here in CT, and as you so well pointed out, are an even bigger problem when it comes to a divorce.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 27 days ago

The classic hard here, stone there.  Short sales are getting fewer and fewer in my inspection experience.  Sellers seldom spruce the house up with upgrades to sell it!

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) 27 days ago

Sadly we are still seeing short sales, very few but at least 1 a month comes my way Sally K. & David L. Hanson 

Posted by Scott Godzyk, One of Manchester NH's Leading Agents (Godzyk Real Estate Services) 27 days ago

I am working a short sale now and the seller had the home rented and the tenants tore it to pieces. The seller lost his job and it is all unfortunate.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional) 27 days ago

Good morning Sally.

Short sales are few and far in-between around here.   I can only remember one lately. 

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) 26 days ago

Good morning Larry and Sheila.  There will always be some short sales for many varying reasons.  Though, hopefully, they won't dominate the market like they did a few years back.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 26 days ago

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