Real Estate Market & Short Sales

The short sale trend is still surging. In fact, short sales are passing foreclosures in frequency because banks see it as a better route when compared to foreclosures. In addition, mortgage servicers are increasing the pace of approving short sales in order to move away from the stereotypes short sales have acquired of moving too slowly through the process.

The rate of short sales increased33% this last year and "[We] believe 2012 could be a record year for short sales," says Daren Blomquist, vice president at RealtyTrac. So cross your fingers that the process will be sped up and this year will continue to bring positive news to the market.

 

Source: “Short Sales Expected to Surge This Year,” CNNMoney (April 19, 2012) and “Short Sales Start to Outpace Foreclosures,” REALTOR® Magazine Daily News (April 19, 2012)

 

Hart Real Estate Solutions

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Hart Real Estate Solutions Bozeman Montana


  

 

Comment balloon 4 commentsHart Real Estate Solutions • April 23 2012 10:07AM

Comments

It seems like buyers and agents are getting more comfortable working with them and will wait them out if they are a good deal.
Posted by Chuck Carstensen, Minnesota Real Estate Expert (RE/MAX Results) over 6 years ago

Agree.  Thanks for the comments.  Tim H.

Posted by Hart Real Estate Solutions, Broker/Owner (Hart Real Estate Solutions) over 6 years ago

yes very much so, but be careful on how you line up the short sales as nationally still 1/3rd are falling apart.

Posted by Mark Loewenberg, KW 561-214-0370 (KW of the Palm Beaches) over 6 years ago

Short sales are definitely very 'fragile' deals.  Thanks Mark.   Tim

Posted by Hart Real Estate Solutions, Broker/Owner (Hart Real Estate Solutions) over 6 years ago

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