May 5, 2013
A quick peek in the Coeur d'Alene MLS for homes for sale as short sales this morning turned up a list of 227, up from 192 just two months ago. They range in price from a high of $3,950,000 for a waterfront development property, to a low of $14,000 for a manufactured home on a rented lot. The lowest priced piece of real property is a $20,000 condo at spectacular Twin Lakes Village waterfront golf community. What makes that condo a hard sell is the monthly HOA fee of $507. One thing's for sure, short sale distress is an equal opportunity condition.
It's noteworthy that of those 227 homes, a whopping 137 have contracts pending, awaiting final review by the seller's lender. Ten of those pending short sale listings are mine! That leaves only 90 short sale properties available for purchase. I haven't seen the inventory of short sales this low in Coeur d'Alene in the past few years. If you've been sitting on the fence waiting to scoop up a super deal, you may have missed the boat!
Homes that are being offered for sale as Coeur d'Alene short sales are homes that have a current market value of less than what the owner owes on their mortgage. They are upside down, under water. Between a rock and a hard place. The seller's lender will usually allow the home to be sold short of what is owed on them, thus the term "short sale."
Property for sale as short sales in Coeur d'Alene and surrounding areas include homes at The Club at Black Rock, Bellerive, Mill River, Coeur d'Alene Lake, Hayden Lake and the Spokane River. There are high end 
homes and fixers. Golf course homes on the fairway, and a Hayden Lake Country Club home.
Click here to see photos and details of EVERY HOME being offered for sale as a short sale in the Coeur d'Alene Multiple Listing Service.
This link will remain active and be updated daily for 30 days.
Short sales can present some challenges for both sellers and buyers, but can be a very good option depending on the particular circumstances of each situation. If you are considering either buying or selling a short sale in Coeur d'Alene, you will increase your chances of success TREMENDOUSLY by using a Realtor skilled in handling them. Trust me on this! Call for a no-strings-attached consultation to find out if you would be a good candidate for a short sale.
Buyers who have the ability to be patient while a short sale purchase plays out are the buyers in today's market who are getting the true SMOKING HOT DEALS!
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