Foreclosures are going upscale across the San Diego, Bay Area. Nearly 1,000 homes valued above $730,000 were repossessed by banks in the nine-county region in each of the past two years, according to a Chronicle review of public records compiled by MDA DataQuick, a San Diego research firm. Back in the real estate boom year of 2005, just 42 Bay Area homes valued above $730,000 went into foreclosure; in 2006, the number was 80. Even more striking is the growth of mortgage defaults – the first step in the foreclosure process – in affluent ZIP codes. Mortgage distress has moved upstream in part because of economic conditions such as unemployment and stock losses. Also in play is a different type of risky loan called option ARM (adjustable rate mortgage) that’s just beginning to cause problems.

Experts emphasized that the foreclosure numbers don’t fully reflect the extent of distress at the high end, because for expensive homes, banks are more likely to pursue short sales, in which the homeowner stays put while marketing the home for less than is owed on the mortgage. “Banks take the time on the high end to short-sale properties because they get a higher return and better valuation,” said Pat Lashinsky, CEO of Emeryville’s ZipRealty, a nationwide brokerage. Buyers of high-end homes during the real estate boom years often relied on option ARMs, which allowed them to start off paying just the interest – or even less than the interest, thus adding on to their mortgage balance. Most option ARMs had an initial period of five years before loans recast, causing payments to soar.

Here’s the perfect way for you to PROFIT from all of those short sale deals that you get without doing any of the hard work. This Book will show you exactly how and why you should start outsourcing your short sale deals to investors who have the time, resources, and know how to turn short sales into cash.

Refer Your Short Sales

It’s no secret the foreclosure market is at an all time high. And it seems as though more and more properties continue to face home foreclosure.

Short Sales are still a very viable means for avoiding foreclosure. Unfortunately not enough homeowners understand the process and too many ineffective Realtors are avoiding Short Sales.

Therein lies the enigma. In an economy that needs real solutions, those charged with energizing the housing industry are opting out. Many real estate agents simply choose to ignore either side of the table. They don’t know how to successfully represent homeowners and don’t know how to bring in real buyers either.

The homeowner who is entrusting their well being to the “professional” is unaware just how inexperienced and uncaring most real estate agents are. It takes a very well educated real estate agent with a team of professionals to realistically navigate the labyrinth of the short sale process.  If you real estate agent says he is going to be negotiating the deal by himself, stay away.  Instead try to find an ethical investor or real estate agent with a proven track record, ask for testimonials, and make sure they have experienced negotiators and or attorney’s  on their staff….these things cannot be over stated.