The consensus of short-sale specialists at Real Estate Connect (an annual industry conference) was that negative equity will be a factor for most homeowners for five to eight more years. The comment heard most frequently from the speakers: The short-sale market is not dying down anytime soon, and if real estate professionals hope serve their clients, they should educate themselves thoroughly, or partner with an agent who is trained and certified in the short sale process. The short sale process is more complex all the time, and negotiating with lenders takes specific knowledge and training. Realtors also commented that they expect negative equity to trigger a second wave of foreclosures “that no one is even speaking about.”
“We’re looking at five to eight years conservatively of high short-sale volume,” said one short-sale specialist and a speaker at the conference. “It’s a market that’s going to be there. You either learn how to do it, educate yourself or work with someone who knows how to do it.”
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