Short Sales,
Have you heard that they are getting easier or Harder? I was on a Webinar with the California
Legal department today. The Vote was a toss up.
However, in the high desert people vote with which kind of home they will buy.
REO
STANDARD
SHORT SALE
WHich make the most money for the seller.
Average sale price of Reo $110,000
Average sale price of Short Sale $119,000
Average sale price of Standard $119,000
Which had the most sales???
If you guessed Standard or Short Sales you guessed wrong.
Reo's were about 70% of the market
Short Sales were about 10% of the market
and Standard Sales the rest.
It is an REO world but when will the banks wake up to the
fact that a Short Sale makes them more money.
More money on the sale price and more money on the lack of Attroney fees and
expenses to Foreclose.
Thanks For Reading
Val
Exit Realty
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