It is amazing how things have changed from even a year or so ago. Short sales are going to be around for at least another 2 years.

For the homeowner in distress this means even in a short sale situation there is a lot of competition for buyers. Will this change in the coming new year with more inventory expected? Remains to be seen.

There are so many variable in terms of area, school, condition, age , upgrades, commute etc.

The bottom line is there are many buyers poised to purchase a home. Some are waiting for the new year to arrive in hopes prices will be driven down further. Others are still waiting to see if the tax extension is passed.

Depending on your lender,  investor involved, recourse or non recourse loan will depend on how cooperative and fast your lender witll work with you to approve a short sale once a buyer has been located and procured.

Short sales do successfully close. Despite many of the negatives you hear and the horror stories. Catherine and I have successfully closed a huge percentage of homes listed as short sales.

Sometimes it was like pulling teeth and at times appears games are played but persistence and hard work has paid off for our sellers as well as the buyers.

There is no guarantees but there is hope.

Wachovia loans in short sale are a breeze to do now since Wachovia streamlined the process.

Wells Fargo is in the process of streamling their process. When that will take effect is unknown but would surmise within the next 6 months or less.

BofA (Countrywide) has gone the opposite way and has made life difficult for all parties involved, however we have closed escrows with them.

If a short sale turns out to be the best option for you then contact us to discuss your entire short sale needs and listing of your home. You can find a lot of information on our short sale blog www.ccshortsales.com.

Please note we are not attorneys and we cannot advise as to what is your best option . We are here to provide a service of listing your home, procuring a buyer, submitting the short sale package to your lender(s), negotiating the short sale and hopefully bringing to a successful resolution for all concerned.

You are never charged a fee. Our fees are paid by the lenders at close of escrow.

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