So, you're looking for a steal of a deal in Springfield's real estate market? Don't tell anyone about short sales. Keep them for yourself. Why? Short sales are one of the best values on the market.
Today's economy is in the beginning phases of recovery. I didn't say it is recovering. but I am seeing many homes showing under contract or sold since the beginining of the year.
Look at some of the statistics from the Springfield MLS from January 1, 2009 to April 17, 2009:
- Christian County: 145 under contract, 261 have sold and 946 are currently on the market.
- Greene County: 531 under contract, 693 have sold and 2206 currently on the market.
- Webster County: 52 under contract, 59 have sold and 315 on the market.
- Taney and Stone Counties: 31 under contract, 38 have sold and 236 currently on the market.
Because short sales and foreclosures are difficult to track in our MLS system, an estimate of these figures allow me to see that 201 of these sold properties for the combined counties were foreclosures and short sales, 76 are currently under contract with 178 available for sale.
Short sales are catching on in the Springfield area. Some of the common reasons that homeowners are able to qualify for a short sale are:
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Change is the financial situation of the homeowner.
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Loss of Job
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Divorce
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Loss of Spouse or family member
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Medical bills
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Increase of mortgage payments
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Excess debt
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Military Service
Short sales allow the homeowner to salvage their credit and avoid a foreclosure on their credit. Today, banks are weighing the cost of foreclosure versus short sales and finding that a short sale will actually save time and money. If you are struggling with your house payments and facing foreclosure, don't wait. There is still time sell your home as a short sale. Contact a short sale specialist today.
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