Market Report for Short Sales - Murrieta, CA

Market Report for Short Sales - Murrieta, CA

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Keep in mind that a "Short Sale" means that the bank that holds the seller's loan has to approve the sale bringing "short" of what the seller owes to his lender.  Instead of taking a short amount of time, it takes 3 to 6 months to get through that process typically.  Buyers in the active Murrieta market - where it is now a multiple offer situation when homes hit the market - can time it right on a short sale by having their offer in at the start of the process and waiting, or by submitting an offer after the sale has been approved and the original buyer has moved on to another home (got tired of waiting).