Short Sale Realtors,
I just hung up with the VP of Loss Mitigation for Countrywide. The update is as follows:
They are now at over 300 short sale applications per day. As of January 18th.
This has grown from 150 applications per day as of December 23rd, 2007.
Although some applications are investors attempting low-ball offers, she thanked me and the other Realtors working hard to obtain market value for the homes that we market and sell. This should help streamline the process.
Their anticipation is expected to exceed 500 per day by May of 2008. I hope this information helps or starts to put things in perspective for the 2008 year.
Thanks for reading...
Frank Wible
ShortSaleNJ.com
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