Real Estate Market & Short Sales

By
Real Estate Agent with Bozeman Broker Group

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)

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Topic:
Real Estate Market Trends
Location:
Montana
Tags:
bozeman real estate
understanding short sales
short sale market
short sales

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Rainmaker
713,209
Chuck Carstensen
Minnesota Real Estate Expert
RE/MAX Results
It seems like buyers and agents are getting more comfortable working with them and will wait them out if they are a good deal.
April 23, 2012 10:11 AM
Rainmaker
74,054
Tim Hart
Broker
Bozeman Broker Group

Agree.  Thanks for the comments.  Tim H.

April 23, 2012 10:16 AM
Rainmaker
529,078
Mark Loewenberg
PA 561-214-0370
Keller Williams of the Palm Beaches

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

April 23, 2012 11:38 AM
Rainmaker
74,054
Tim Hart
Broker
Bozeman Broker Group

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

April 23, 2012 04:28 PM
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Rainmaker
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Tim Hart

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