The going trend in our local market these days seems to be every sale is a short sale or foreclosure. I have done and do quite a bit of both but the short sales are starting to look like an even bigger pain in the rump now than ever. I have had 3 different short sale contracts in the last month that were good contracts with good buyers that we have actually been able to keep holding on for 5 or 6 weeks while we wait on the lender just to have the lender reject the offers and counter back over our list price. I had one house listed at $250,000 and got an offer at $240,000, the bank countered back at $280,000. The buyer walked and 6 weeks later the home was foreclosed on and put on the market at $210,000! Today I got an email from a short sale company that I sometimes use informing me that Ocwen Loan Servicing will no longer negotiate short sales at all. With these kind of practices, it's no wonder so many lenders are bellying up!!
Generate More Leads from this Listing
With a Trulia Pro Account
Find what you need?
See More Blog PostsAbout Real Estate! SEE MORE NOW!