There are more and more short sales on the market! From 2009 to 2011 the number of short sales actually doubled! In 2011 227,570 short sales were approved by the banks which was a 12% increase over the previous year and a sign that banks are approving more and more of these sales. Predictions show that there will be about 400,000 short sales this year which is high but still less than the originally predicted 500,000. Part of the increase may be due to the settlement the banks reached regarding the foreclosure scandal which also requires them to make an effort to get homes sold as short sales rather than just foreclosing. At any rate, short sales are going to be a part of the real estate market for quite some time.
The key to avoiding foreclosure is really to act fast – if you can’t pay your mortgage contact me to get started on a short sale! Time is ticking and the more time we have to get your home sold the better the chances are of you avoiding foreclosure! Don’t avoid the problem! I will not go away, it will only get worse – I can help you sell your home and move on with your life.