In the Current Short Sale Market, Experience Matters

PHOENIX, Feb. 17, 2011 /PRNewswire/ -- The real estate market has seen better times. 27% of U.S. mortgages are "underwater"; the Phoenix market suffered a 16% rise in foreclosure filings in January; the 2006 5-1 ARMs (Adjustable Rate Mortgage) are starting to hit.

For REALTORS® like Jill Segrove, times have never been busier, "More people are asking about short sales and trying to figure out a strategy. There is a lot of misinformation out there. People are worried and they need reliable information."

One of the more popular misconceptions is that a short sale is the same as a foreclosure when it comes to the long-term effects. "Absolutely not true," she argued. "Yes, a short sale will have an impact, but a foreclosure is going to have a longer term effect."

As a short sale specialist, Segrove works with sellers to help them understand all their options and help them get to where they want to be. "A short sale isn't always the best option. Understanding the homeowner's position helps me explain other options available. If someone really wants to stay in their home, then pulling out all the stops is what I will do to help make that happen," Segrove said.

If a short sale is the only option, then she does her best to bring forth a buyer. "Ultimately, it's in everyone's interest for the sale to go through. The seller doesn't want the long-term ramifications of foreclosure, the lender doesn't want an empty asset that they now have to market, and the buyer doesn't want to miss an excellent opportunity."

When asked the difference between a "Short Sale" and a "Regular" REALTOR®, Segrove sums it up with one word: "Experience."

"Keeping abreast with the market and knowing a lender's protocol is key to a successful short sale. An experienced short sale REALTOR® will know what to expect and is always prepared for the next step in the negotiating process."  

Compassion also plays an important role in Segrove's practice. "Most homeowners feel like they have failed their family. It's important that your seller understands that short sales aren't about homes and mortgages. Short sales are about living a better quality of life and moving forward."  

Jill Segrove is a REALTOR® with Prudential Arizona Properties in Phoenix, Arizona. Her website is http://www.JillSegrove.com. For more information, please call Jill Segrove at 602-373-1506, or email her at [email protected].

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SOURCE Jill Segrove