Who benefits from the Short Sale?
Short sales are a win-win situation. Lenders, Mortgagees and Realtors all benefit from the successful short sale. Mortgagors get the majority of their money back, Mortgagees get the relief they need and are able to sell their property and avoid foreclosure, and Realtors can facilitate the transaction and receive compensation (commission the bank pays) from the sale of the property.
Why would banks forgive the difference?
To mitigate their losses, banks often accept a settlement of less than what is owed on the property. When faced with the option of getting the property ‘back’ through foreclosure, a short sale often makes a much wiser business decision for the bank.
This sounds too good to be true!?
Not really. Things that are ‘too good to be true’ usually don’t make good economic sense. The short sale makes good common and financial sense for the banks who grants them. The fact of the matter is, Mortgage companies and banks are NOT in the real estate business. They are in the LENDING business. The last thing they want is that property back.
Keller Williams Realty AV Ranked #1 in the Antelope Valley
Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures
Monthend Numbers
| Jan '10 | Dec '09 | Nov '09 | Oct '09 | Sep '09 | Aug '09 | |
| Listed | 691 | 598 | 756 | 659 | 701 | 691 |
| Pending | 556 | 507 | 667 | 593 | 725 | 564 |
| Sold | 369 | 517 | 565 | 549 | 564 | 61 |
Dailys* Statistics
track the
current Real
Estate Market in
the
Antelope Valley, Palmdale
& Lancaster.
| New Listings | 50 |
| Back on Market | 9 |
| Price Increases | 8 |
| Price Reductions | 17 |
| Pendings | 22 |
| Solds | 15 |
| Expireds | 5 |
| Inactives | 8 |
| Month to Date and Projected open Escrows* | |||
| Total Active | 1,357 | ||
| Total Active Core Area | 919 | ||
| Total Active REO's | 235 | 10 | Added |
| Total Short Sale | 295 | 3 | Added |
| Pending MTD/Projected | 547 | 589 | 58.0% |
| Sold MTD | 317 | 341 | |
| Sold Last Month | 369 | -7.5% | |
| Last Year Month | 600 | -43.1% | |
| Active Listing Mix | |||
| REO % of TTL | 25.6% | ||
| Short Sale % of TTL | 32.1% | ||
| REO+SS % of TTL | 57.7% | ||
| Normal % of TTL | 42.3% |
Current Month 1.6 Months
At Last Months Rate 2.1 Months
Historical High Active Listing - 5300+ Mid 2007
Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you! Call us today. If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. Or Keller Williams Realty AV
(Quick Mapping Links for Core Areas)
Palmdale
Lancaster
Ana
Verde
Ritter
Ranch
Quartz
Hill
Leona
Valley
Lake
Hughes
Lake
Elizabeth
*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping. All figures are Single Family Residential only.
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