Stanislaus County Short Sales- Foreclosures are Down!

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Real Estate Agent with Century 21 M&M - 209-633-2839 BRE #01423125
http://actvra.in/JBs

Stanislaus County Short Sales- Foreclosures are Down!

According to the National Foreclosure Report the number of completed foreclosures nationwide is down for the fourth month in a row.  The report was released today October 4, 2012 by CoreLModesto Caogic.  If you have been reading my market reports of home sales here in Stanislaus County this will not come as a surprise to you.   For the last few months I have shown in my reports of Stanislaus County, and the cities of Turlock, Modesto, Patterson, Ceres that the number of short sales is now surpassing the number or bank owned sales.

The report states that “The reduction in foreclosure volumes is to some degree being facilitated by the rising popularity of alternative resolution methods, such as short sales and loan modifications.”  This is something that is very real here in Stanislaus County.   The number of Stanislaus County Short Sales continues to rise and in my opinion will continue to do so for some time.  It seems like the banks have finally caught on that doing Short Sales is a better option for all involved.  It is less costly for the banks, doesn't damage a seller's credit as much and allows the seller to be able to buy again much sooner than if they had a foreclosure.

Another advaWhat's the Bank Hiding?ntage to a Stanislaus County Short Sale in my opinion is that in most cases the home is in much better condition than a bank owned home.   I know that some banks will go in and install new carpet and put on a fresh coat of paint but who knows what is under that fresh coat of paint and new carpet.  With a Stanislaus County Short Sale you are dealing with the actual owner of the home  and they usually know the history of that home. 

The banks are in MOST cases getting faster in their short sale approvals.   There are still short sale nightmares but I think that is now the exception and not the rule.  I think the bottom line is that we will be seeing even less foreclosures completed in the coming months and more homes being sold as short sales.  


If you are facing foreclosure and are not sure what to do give me, JIM PATTON, a call at 209-633-2839 and we can discuss if a Stanislaus County Short Sale is right for you.   I look forward to hearing from you.

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Jim Patton - Realtor, Short Sale Specialist, CDPE

Century 21 M&M and Associates

BRE# 01423125

Ph. 209-633-2839

Jpatton@c21mm.com

www.JPattonHomes.com

 

 

Jim Patton Stanislaus County Short Sale Agent

 

 

 

 

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The author of this blog, Jim Patton, is a full time Realtor with Century 21 M&M and Associates.  Jim is a Central California Short Sale Specialist who lists and successfully sells short sales throughout Stanislaus, Merced and San Joaquin counties. Call Jim Patton at 209-633-2839.

The views expressed herein are Jim Patton's personal views and do not reflect the views of Century 21M&M and Associates

 

 

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Rainmaker
1,265,044
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

Jim - Thank you for the detailed information about Stanislaus County short sales foreclosures are down.

Oct 04, 2012 05:52 PM #1
Rainmaker
1,264,474
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Jim - I do think the banks have caught on, the short sale approval process has definitely become more streamlined and quicker.

Oct 05, 2012 06:29 PM #2
Rainmaker
434,329
Jim Patton
Century 21 M&M - 209-633-2839 - Turlock, CA
Realtor - Stanislaus & Merced county Realtor.

They are getting better Michelle but they still have a ways to go.

Oct 06, 2012 11:31 AM #3
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Rainmaker
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Jim Patton

Realtor - Stanislaus & Merced county Realtor.
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