Million Dollar Home Owners Walking Away | Distressed Property Designation

February 1, 2011

Short sales in 2011 -2014 are the first line of defense to avoid a foreclosure for the lenders…and the smart owners.

Harris Real Estate University expects a massive increase in the number of approved short sales as lenders mount defenses against strategic defaults. The biggest market segment of strategic defaulters will be in the luxury home price segment. Watch this CBS Video to get an idea of what to expect.

Simple fact is, the stigma that was associated with defaulting on a home is gone. Right or wrong, millions of underwater owners are thinking about their homes as an investments. Following that logic, when an investment declines in value its simply a smart business decision to stop paying into the soured investment.

It should be of no surprised to anyone that the largest group of strategic defaulters is with the higher end home. Harris Real Estate University saw this trend coming and created the LDPD (Luxury Distressed Property Designation) that agents receive along with their ASD (Accredited Short Sale Designation) and HAFA Designation.

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Million Dollar Home Owners Walking Away | Distressed Property Designation

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