Michael Murphy at MarketWatch.com lays out the compelling, and concise, case (bullets have been shortened):

1. Desperate sellers. Not the homeowners, of course. It’s the banks that financed the mortgages that are desperate…. That gives the few buyers out there big leverage.
2. Little competition. … those investors willing to be patient and do the work will reap big rewards down the road.
3. Low financing rates. … getting 4-to-1 to 32-to-1 leverage at a low fixed rate of interest is like having someone give you money … rates for 30-year fixed mortgages are an incredible 4.5%. That’s the lowest in 39 years….

To drive his point home, Murphy correctly points out that the real estate summer sales season is almost over. Most house hunters prefer to get settled before school starts and certainly before the holiday season begins to heat up.

Indeed, the time between Labor Day (Sept. 6, 2010) and New Year’s Day (Jan. 1, 2011) is the perfect time to “seriously consider making a low-ball bid on a distressed situation.”

Get a headstart today with a seven-day trial to search Foreclosure.com for the best deals in you’re area — it’s FREE! Click here.

Ron Artest can thank his real estate agent, not his psychiatrist, for pulling off this latest feat.

“Tru Warrior” recently closed a deal on his $1.85 million Sacramento, Calif.,-area home, unloading it to a local businessman, Paul J. Bianchi, for $1 million in a short sale transaction.

With Artest now playing small forward for the Los Angeles Lakers, the home (to check out a pic click here), which he purchased in 2006 while playing for the Kings of the National Basketball Association (NBA), was no longer necessary.

But with the collapse of the housing market, it also became nearly impossible to re-sell with such a large price tag.

So the lender accepted a lower offer on what it was owed and, more than likely, will forgive the nearly half-million dollar difference.

That’s good news for Artest, who agreed to what many experts believe to be a low three-year (with an option for five) $18 million contract (full value is about $34 million if he opts for the extension) with the Lakers just last year with the hopes of winning a world title.

Mission accomplished — Artest was a major contributor in the Lakers second straight NBA championship in 2010.

His electric performance in the pivotal Game 7 against the Boston Celtics helped lead the team to victory.  It was his first time he hoisted the trophy in his enigmatic and volatile 11-year professional basketball career.

Learn how to properly prepare and close successful short sale offers in record time with help and direction from investing pro, Sharon Restrepo.

Sharon will demonstrate how you can put the “short” back in short sale, leveraging the recently-introduced Home Affordable Foreclosure Alternatives (HAFA) program, which provides incentives for lenders to close these types of deals fast.

Register for “Short Sale Intensive Training” before it’s too late. Click here. The educational session is available to watch LIVE online during an information-packed presentation scheduled for Thursday, May 13, at 7 p.m. ET.

Here are just some of the many invaluable nuggets you will take away:

• How to make more money on short sale transactions
• How to put together the best short sale package
• When to avoid a short sale
• How to short sale as an investor or agent
• What banks are looking for when short selling

Expect more short sales (and great deals) to flood the market now and well into the future. So you need to know exactly what you’re getting into with short sales today and how to purchase them for pennies on the dollar as soon as tomorrow!

Register for “Short Sale Intensive Training” before it’s too late. Spots are limited and filling up FAST! CLICK HERE.

Webinars are LIVE educational sessions that let participants see, hear and interact with real estate experts right from their personal computer screens. In fact, Webinars are driven in part by visitor feedback and questions that are posed during the sessions. For more information and course offerings click here.

CNNMoney.com passes along some great information via Fair Isaac, which is the brains behind the all-important FICO scores.

Here’s a breakdown of how being late on your mortgage, or not paying it altogether, impacts your credit score (in negative points):

• 30 days late: 40 to 110 points
• 90 days late: 70 to 135 points
• Foreclosure, short sale or deed-in-lieu: 85 to 160 points
• Bankruptcy: 130 to 240 points

For all the calculations and hypothetical number-crunching that went in to arriving at the numbers above we suggest that you check out the original article right here.

However, keep in mind that no two borrowers are alike — the same delinquencies can and do affect credit scores differently.

Maxine Sweet from Experian explains:

“If you picture someone who has just one mortgage and one other credit account versus a mature credit user like me with 15 accounts, if they miss one payment that would impact their scores a lot more. For me, one missed payment would just be a blip.”

The moral of the entire article is to “cut your losses quickly” and to “not worry about your credit score.”

Easier said than done, but perhaps words of wisdom when facing a seemingly insurmountable financial crisis.

For more information on this topic and more remember to check out the Foreclosure.com Credit Center right here.

Professionals from our education and customer service departments are always fielding this question, whether it’s from a Webinar attendee or a distressed homeowner facing foreclosure.

First let’s be clear: A short sale will ding your credit score, lowering it anywhere from 80 to 100 points.

However, it is a much better option than foreclosure, which can drop your score as much as 250 to 280 points for as long as seven years.

Therefore, it is always in a homeowner’s best interest to short sale or sell his or her home by other means before forfeiting it back to the bank/lender.

One very important item that must be top of mind when thinking about short selling your house, however, is whether or not you will be hit with a deficiency judgment.

In a short sale transaction, a bank agrees to sell a home for less than what it is owed by the original borrower. And even though a bank may sign off on the deal, it could still hold the original borrower accountable for the difference on the short sale.

In other words, if you bought your home for $300,000 and sold it as a short sale for $215,000, you could still potentially be on the hook for $85,000.

For most people a deficiency judgment is the final financial blow that forces them into total economic submission: Bankruptcy.

Vanessa Corey of Fredericksburg, Va., shares her sad short sale tale with CNNMoney.com:

“My understanding was that the deficiency was negotiated away. Then, last November, I got a letter from a lawyer telling me I owed my lender $65,000. I had to declare bankruptcy. There was no way I could pay it.”

How do you avoid getting slapped with a deficiency judgment in a short sale?

It must be addressed during the negotiation and a condition of the sale that you ask for and are granted a release. All that means is you request that the bank/lender “releases you from further financial obligation” as soon as the deal closes.

That one small request makes a huge difference.

The U.S. Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives (HAFA) program on Nov. 30, 2009.

It was designed with good intentions — to simplify and streamline use of short sales and deeds-in-lieu of foreclosure. However, HAFA is a complex 43-page program that may be difficult for most real estate agents to fully understand.

To be perfectly honest, most agents may not even have the time or desire to familiarize themselves with the entire program.

But you simply don’t have a choice — HAFA guidelines go into effect April 2010! And they will likely have a large impact on your business, protocols and, most important, commissions.

Here’s the good news: You do not have to be left in the dark on this industry changing program.

That because Foreclosure.com Agent University is conducting two limited attendance FREE Webinars (Register here or here) to teach real estate agents all about the key HAFA changes.

This 1.5 to 2-hour Webinar will take an in-depth look at the guidelines and forms focusing on the key issues to real estate agents:

• Commission impact
• Forms and paperwork
• Participation guidelines
• Timelines
• Servicer participation
• Incentives for homeowners
• Second- and third-party liens
• And much more!

DO NOT MISS THIS IMPORTANT FREE WEBINAR!

Click on one of the events below to register:

• Thursday, Feb. 11, 2010, at  3 p.m. to 5 p.m. ET https://www1.gotomeeting.com/register/690622256
• Tuesday, Feb. 16, 2010, at 3 p.m. to 5 p.m. ET https://www1.gotomeeting.com/register/929001865

HAFA is part of the Home Affordable Modification Program (HAMP), providing incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program.

Understanding HAFA inside-out is critical for serious real estate professionals. And this is your opportunity to learn everything you need to know at absolutely no cost to you.

Boca Raton, Fla. — January 6, 2010 — Foreclosure.com today announced that it will team up with Inman News to enhance the experience for real estate professionals who attend the annual three-day tradeshow at the Marriott Marquis Times Square in New York, N.Y., from Jan. 13-15, 2010.

“Real Estate Connect New York City 2010” is where more than 1,300 industry professionals gather each year to meet new customers, partners and collaborators in innovation, gaining the competitive advantage to keep up and get ahead.

Accordingly, Connect NYC 2010 attendees will have the opportunity to earn foreclosure and short sale designations through Foreclosure.com Agent University, which are universally recognized as the standard of excellence among real estate professionals.

The hands-on, deal-driven training is included in the cost of admission to Connect NYC 2010, meaning that agents who attend do not have to pay extra to earn two (Certified Foreclosure Agent and Certified Short Sale Agent) important designations.

It’s a savings of more than $1,300, according to Foreclosure.com Director of Education, Linda Yates.

“We know that the agents who have not yet focused on the booming distressed real estate market could be struggling to close deals,” said Yates. “This is their chance to change all that in one fell swoop and start the New Year off right with incredible learning experiences that will be invaluable assets for the rest of their careers.”

Foreclosure.com will host a live, full-day interactive seminar on Jan. 12, 2010, at Connect NYC 2010, certifying agents with its short sale curriculum. Upon completion, Certified Short Sale Agents will be able to get their Certified Foreclosure Agent designations online.

To register for “Real Estate Connect New York City 2010,” and take advantage of the certified short sale and foreclosure agent training while at the show, visit www.inman.com/conferences/CSSA. Please use code “CSSA” at registration.

For local agents who may be in the area, but unable to attend the full conference, Foreclosure.com is also opening up both training opportunities on Jan. 12 to non-conference attendees for its lowest price ever.

In addition, those who are attending Connect NYC 2010, but registered before this limited-time offer was announced, are also able to take advantage of this certification bundle.

Registered agents and those who want to attend the onsite training only should call (866) 382-4445 or visit www.AgentUniversity.Foreclosure.com today.

About Foreclosure.com Agent University

Foreclosure.com Agent University offers serious real estate professionals the best selection of training opportunities and certification programs available in the industry today. Our designations are universally recognized as the standard of excellence. Certified agents stand out among their peers, closing more deals and earning higher commissions. We provide agents with invaluable knowledge, skills and tools that ensure consistent success … even in the most challenging markets. Our industry-leading certification programs, Certified Foreclosure Agent and Certified Short Sale Agent, offer varying degrees of participation at the lowest possible prices

On the Web:

Foreclosure.com Agent University (www.AgentUniversity.Foreclosure.com)

Three years ago, just as the housing market was beginning its rapid descent, we purchased a perfect three-bedroom home in South Florida for $325,000.

It was in a great neighborhood. Excellent school district. We were set.

At the time it was priced right to sell ($379,000) — other nearby homes were hovering around the low $400′s. So we were thrilled when our “miracle offer” was accepted with no counters or questions asked. We celebrated the “steal of the century.”

Unfortunately, our joy didn’t last long.

Each year we helplessly watched as our home value continued to sink like a rock. We’re still not even sure if it has hit bottom — we’re too scared to look.  Last time we checked our home was roughly worth about $250,000, which is about a $75,000 hit.

Many homeowners today are in similar if not worse positions. We understand that. Still, that’s a lot of money.

And even though the value of our house has dropped significantly, our monthly mortgage payments remain the same. So, too, does our interest rate. We’ve tried to refinance, secure a lower interest rate at the very least, but no dice … we are too far upside-down to be considered.

We’ve got great credit. Pay our bills on time. And do all the things we are supposed to do. Yet, when we try and somehow improve our situation to compensate for the lost value in our investment, we hit dead ends.

It’s frustrating, making people think how it’s possible banks, lenders and the federal government are seemingly bending over backwards for those actually deep in (or possibly feigning) distress. Meanwhile, the “good guys” have few if any options available to reward their  hard work.

Bloomberg.com explores this issue today, revealing how underwater homeowners have resorted to “strategic default” in response to the current housing crisis. This is when homeowners stop paying their mortgages while remaining current on other debts. It’s a practice that rose 128 percent (588,000 cases) compared to last year and represents a small percentage (4%) of all underwater homeowners.

Of course, there are other options, including selling the home for a huge loss (and paying the difference), staying put until the local market corrects or short-selling the house.

The latter option appears to be the best. Short sales are a great solution when it comes to short circuiting the foreclosure process. It’s typically a win-win all the way around under the circumstances.

We have decided to ride out the storm. It’s certainly not a “strategic” choice, but one that we think is good for us. We are in positions where we can afford our monthly expenses … for now.

But that could all change literally tomorrow. That’s just the nature of today’s complicated real estate beast.

This is a guest column. Therefore, the views expressed in this article do not necessarily reflect the views of Foreclosure.com and/or its partners.

BOCA RATON, Fla. (Sept. 21, 2009) — Foreclosure.com Founder, President and CEO, Brad Geisen, announced today that he has built the first-ever short sales offer management system that handles marketing, processing, negotiating and closing services all in one central location.

QuickSale ^SM (www.QuickSale.com) is an easy-to-use platform that simplifies an often long and complicated process, bringing together all parties — distressed homeowners, lenders, investors, buyers and agents — who all share one common interest: Moving real estate inventory as fast as possible under the best terms.

“Short sales are the ultimate solution when it comes to solving the national foreclosure crisis now and in the future,” said Geisen.

In short sales situations, banks or mortgage lenders agree to discount home loan balances prior to selling because of economic (local home values have plummeted) or financial (unemployment) hardship on the part of homeowners.

Geisen states that QuickSale.com helps cash-strapped homeowners avoid foreclosure and minimize the negative impact on their personal credit, allowing them to pursue alternative housing options worry-free when the time is right.

On the lender side, banks ensure instant liquidity for the defaulted loans on their books, maximizing the amount (often 80 to 90 percent of market value) that they can get out of distressed properties in a much shorter timeframe (30 to 90 days).

QuickSale.com closes the loop by bringing in agents and buyers located throughout the United States and beyond who purchase the distressed properties at negotiated prices before the banks repossess them. Agents who coordinate short sales from start to finish through the QuickSale ^SM system earn commissions.

“Banks lend money, they’re not in the business of marketing and selling real estate — certainly not on today’s current scale,” said Geisen. “And their loss mitigation departments are just too overwhelmed at this point. QuickSale.com is a structured tool that provides much-needed support and relief. It short circuits the entire foreclosure process to ensure the best possible outcome for all parties involved . . . quickly.”

Distressed homeowners, lenders, investors, buyers and agents who are interested in learning more about participating in the QuickSale ^SM program are encouraged to visit www.QuickSale.com or call (866) 202-8200 to learn more and/or request a demonstration.