I think a lot of people would think twice about flying if there was a chance you'd just never be able to get on. Does that say something about short sales?

Sitting in the airport is daunting enough of a task but to get the news that your flight has been overbooked is exactly like the short sale process. I remember telling my brother-in-law about the short sale process over and over again and they decided on moving forward on a short sale. After 3 months of getting nowhere they started complaining. Finally it got accepted but there's so many times that it ends up getting nowhere.

Totally agree! The buyers are much more patient than I would or could be if it were a home I were trying to purchase. The buyer is emotionally attached to the home and becomes more antsy with each day.

I try to manage their anxiety by giving updates, but in the end it is the lender's decision.

Hi,

That is true. Most of the time, it has happened to me too. I feel screwed up with the flight delay and we must stay idle for a long time.

Very accurate. Most buyers find another home to purchase before the short sale is approved. Maybe that's like taking a bus rather than wait for the flight.

For drinking "a lot" of beers, this article actually makes sense :)

If you are ever stuck in Vegas, give me a shout!

That's a great comparison. I'll have to share yoru post with buyers that inquire about short sale properties!

I agree with Carmen. Awesome analogy Jay. Not one I would have come up with off the bat, it's almost surprising how well it fits.

Now as far as flights are concerned, seems that having a good flight is a thing of the past, a dim and distant memory. Used to be that flying was a service oriented business, apparently not anymore.

The good news is that at some point the market will change and short sales will be a rarity rather than the norm. The bad news is I'm sad to say I don't see any such changes in the airline industry.

Now I read this! Had I known we could have come rescued you! At least taken you to someplace fun. Hope you got home safe.
kk

Jay-

I think a few of the offers we've gotten on some of our short sale listings have involved some harder stuff than beer.

The "hurry up and wait" game might be a little easier with Wi-Fi at the airport (and the bar, of course) but it still sucks.

Perhaps we should give short sale buyers a laptop and tell them to occupy themselves. They'll find their own libation.

Jay - You know the airlines..."they're not happy until you're not happy!" Safe travels.

Great post.

Oh, the good ol' airport beer. I've had more than I care to admit (some of my layovers in Europe have been upwards of 8 hours). Funny post and very timely as SS's are taking over the inventory.

I feel your pain. My flight was delayed 2 hours one time when flying back to Las Vegas for vacation. I can't imagine being there for 8 hours! I think i would almost go insane. Although, my 2 hour delay was quite entertaining. I was in the airport when they had live news coverage of the boy who supposedly drifted off in that balloon. Lucky me....

Last week the listing agent on a short-sale home gave me a call to tell me that the bank had foreclosed, so our deal was dead. This is like finally getting on that plane in Denver only to have the pilot announce that the airport has just closed because of a blizzard.

I think a lot of people would think twice about flying if there was a chance you'd just never be able to get on. Does that say something about short sales?

It seems like banks are making it harder and harder to get the deals closed. I always say that working short sales makes me want to smoke, drink and cuss! There seems to be no intelligent life in the loss mitigation departments these days.

Sitting in the airport is daunting enough of a task but to get the news that your flight has been overbooked is exactly like the short sale process. I remember telling my brother-in-law about the short sale process over and over again and they decided on moving forward on a short sale. After 3 months of getting nowhere they started complaining. Finally it got accepted but there's so many times that it ends up getting nowhere.

Totally agree! The buyers are much more patient than I would or could be if it were a home I were trying to purchase. The buyer is emotionally attached to the home and becomes more antsy with each day.

I try to manage their anxiety by giving updates, but in the end it is the lender's decision.

Hi,

That is true. Most of the time, it has happened to me too. I feel screwed up with the flight delay and we must stay idle for a long time.

I also agree with Carmen.

Very accurate. Most buyers find another home to purchase before the short sale is approved. Maybe that's like taking a bus rather than wait for the flight.

For drinking "a lot" of beers, this article actually makes sense :)

If you are ever stuck in Vegas, give me a shout!

That's a great comparison. I'll have to share yoru post with buyers that inquire about short sale properties!

I haven't heard a short sale compared to a flight delay yet, but this just might be the perfect analogy! It's also sad for sellers that the banks move so slowly on short sales, especially when they have ready and willing buyers. The whole thing is messy and sometimes heartbreaking.

I agree with Carmen. Awesome analogy Jay. Not one I would have come up with off the bat, it's almost surprising how well it fits.

Now as far as flights are concerned, seems that having a good flight is a thing of the past, a dim and distant memory. Used to be that flying was a service oriented business, apparently not anymore.

The good news is that at some point the market will change and short sales will be a rarity rather than the norm. The bad news is I'm sad to say I don't see any such changes in the airline industry.

Awesome analogy Jay. Hope you made it home without tearing your hair out. Airports and Short Sales are equally frustrating. Airports are a necessary evil, short sales are not. I keep telling people to avoid them like the plague.

I'm amazed that buyers still are trying to buy short sales, since banks have make it near impossible.

If only the banks had the same attitude about selling cheaps seats... Everybody'd have a house then... ha ha!

Now I read this! Had I known we could have come rescued you! At least taken you to someplace fun. Hope you got home safe.
kk

Jay-

I think a few of the offers we've gotten on some of our short sale listings have involved some harder stuff than beer.

The "hurry up and wait" game might be a little easier with Wi-Fi at the airport (and the bar, of course) but it still sucks.

Perhaps we should give short sale buyers a laptop and tell them to occupy themselves. They'll find their own libation.

Another title for this post should be how a airport delay created a great blog post. I am sure that you would have preferred to not have the delay! :)

Jay - You know the airlines..."they're not happy until you're not happy!" Safe travels.

Great post.

that so much sucks. why is it that being on vacation makes you want to compare it to a short sale? i do not know: http://www.elizabethnewlin.com/uncategorized/buyin... :D

Oh, the good ol' airport beer. I've had more than I care to admit (some of my layovers in Europe have been upwards of 8 hours). Funny post and very timely as SS's are taking over the inventory.

Owner - at least in Vegas, you can play the slots....
Thesa - my online buddies certainly kept me entertained!
Peter - I've lost count... ;)

Great post and an effective use of your time. I guess it was either write a good post or drink 4 more beers. How many are you up to now? Double figures?...

at least you and all your online folks to keep you company - give you suggestions of how to spend your day - and most of all... you do know where you will lay your head down when this is over :)

I feel your pain. My flight was delayed 2 hours one time when flying back to Las Vegas for vacation. I can't imagine being there for 8 hours! I think i would almost go insane. Although, my 2 hour delay was quite entertaining. I was in the airport when they had live news coverage of the boy who supposedly drifted off in that balloon. Lucky me....