Word: cooperator
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...ANDERSON COOPER races MICHAEL PHELPS...
...John Cooper, 27, is having a tough few years in real estate. The Roseville, Calif, agent came into the business shortly before the top of the market then saw his sales drop off in 2006. Next, he lost his house. Payments on his adjustable rate mortgage jumped from $1,300 a month to $2,000. Cooper, who owed more than the home was worth, let the house go into foreclosure...
...Recently, Cooper has gotten busy again, but all of listing are so-called short sales [i.e., the sales price is less than the mortgage owed,] which involve more work and can take double or triple the time to complete than a typical house purchase. "Investors stay away from short sales," says Cooper. "It takes too much time...
...rents now, but hopes he will soon have enough money to buy a house again. He is even thinking about using his 401(k) retirement account to buy investment properties. "This probably the greatest time ever to buy a house," says Cooper. Let's hope...
...Cooper's own experience with foreclosure may be making him a better real estate agent. He now specializes in selling homes where the buyer owes more than the house is worth. He has closed 18 sales so far this year, and believes he will complete another 4 transactions in the next month. "I'm the busiest I have ever been," says Cooper...