Ramblings of a Real Estate Junkie...on a drug called short sale crack

Now I know I'm not Einstein, didn't go to Harvard to study Economics, or claim to have all of the answers. But when I don't know the answers to a technical question...let's say...how the economy would react to a stimulus package mostly consisting of throwing money at the real estate market (um, ok, BANKS)...I think I would... I don't know, poll the experts in that particular field or maybe make a "task force" that would look into the matter at hand... you know since this is such a huge endeavor I would want to know that what I'm about to do will have somewhat of a success rate.

Now that being said, and again not claiming to be the brightest crayon in the box, wouldn't you have thought that the brainiacs up on Capitol Hill would have done just that. I don't recall getting a letter, an email, phone call, text or heck even one of those annoying people that stand in the mall trying to stop you to ask you questions from one of those "polls", you know them... every time you walk by them you try not to make eye contact, yeah those people, nope not one of them stopped me.

Being in real estate I think I can be considered somewhat of an expert in the field and would have given the Capitol Hill guys (who know absolutely nothing of what's going on in real estate except that the home they own isn't worth what it once was) some great advice. Not sure why or who came up with "short sales"-for those of you who have been on the moon for the past year, a short sale is ANYTHING but short- I understand the "concept" but do I think it was a great idea to start something like that...NO. But someone did and "it is what it is"...as they say...

So I ask you, why didn't the federal Government take some of those BILLIONS of dollars, that they handed over to the banks, SAVE hundreds of government jobs and create a special "task force" for each state just for short sales? Would you not think that if this was done that there would have been some rhyme and reason, some calm to the chaotic, some STANDARD procedures across the board for these short sales? Everyone would be on the same page, would expect the same out come, would expect the same rules and would expect to close ...hell, just get an answer quicker than 6-9 months!

If this would have happened we would have had ;

1. less unemployment;


2. less inventory on the market;


3. less frustration from buyers & sellers (and agents)


4. and a quicker rebound of the housing market (less inventory = higher demand = pricing increase or stabilization = economic turn around)

These short sales have got to move quicker if we are going to get out of this housing slump...

not one of America's greatest economic leaders...just the ramblings of a real estate junkie on short sale crack!

Really...

How is it.... that a realtor takes a 63 hour course, sits for that exam, passes it, sits for a 3 hour state exam, passes it, get's hired with a reputable (or not so reputable) firm, learns from classes they take (or maybe it is they should have taken) and brokers that share their vast knowledge and STILL DOESN'T UNDERSTAND THAT WHEN YOU WRITE A CONTRACT IT IS A LEGAL, BINDING CONTRACT!

Why is it...that a realtor who took the aforementioned courses/classes thinks that it is legal to write a contract and just one day, out of the blue call up and say, “hey my buyer has changed their minds so would you mind having your seller sign this release and cancellation form...”

Really?...how about NO! Do they not explain to their Buyer/client that what they are signing is a legal and binding contract in which they have to perform and that not performing to this legal and binding contract they will be held liable? Or maybe it is they need to look up the word legal and binding to find out the definition or better yet...read the contract itself!