While the dramatic decrease in foreclosures is temporary, the equally sharp uptick of short sales is not. Why?
As reported in The Wall Street Journal this week, buyers are snapping up short sales in all-cash deals, breathing life into the crippled Florida real estate market. In our monthly real estate workshop last night, foreclosure defenseand real estate attorney Roy Oppenheim pointed out that over half of short sale buyers today pay in cash, versus 13 percent in 2006.
Didn’t make last night’s event? The replay will be available for the next ten days on Oppenheim Law TV.
In the timely workshop, Oppenheim discusses:
- How global events and macro economic conditions such as unemployment and the price of gas impact the real estate outlook
- How to fashion a personal bailout
- How banks define financial hardship
- Why banks prefer short sales
- The 20-year cycle of the real estate market
- Insightful Q&A from the Oppenheim Law chat room