short sales: Short Sales vs REO's
- 02/21/10 10:26 AM
I have a question that I am hoping someone might be able to answer regarding the banks, short sales and REO"s. I am a Realtor in Southwest Florida, an area, as much of you already know hard hit by foreclosures and short sales. With regard to the short sales, on the average it takes at least 6 months for banks to approve them, and then more often than not the buyer walks. Shouldn't short sale approval take about the same amount of time as a mortgage loan would in underwriting? These short sales and REO's are devaluing properties in the area, bringing down the … (2 comments)
short sales: Housing News Not Sweet
- 11/14/08 06:12 AM
According to the Bonita Daily News, home sales in the Fort Myers area rose for the 10th month in a row in October. A total of 805 single-family homes sold with the assistance of Realtors, up 122.4% from a year ago according to the Association of Greater Fort Myers and the Beach Inc. Why are the home sales up...Because of exceptional value! It is that home sales in this area will continue to rise as prices fall. They are falling because in this area of Florida more and more people are likely to find themselves in trouble as many of the home … (0 comments)
I have a question that I am hoping someone might be able to answer regarding the banks, short sales and REO"s. I am a Realtor in Southwest Florida, an area, as much of you already know hard hit by foreclosures and short sales. With regard to the short sales, on the average it takes at least 6 months for banks to approve them, and then more often than not the buyer walks. Shouldn't short sale approval take about the same amount of time as a mortgage loan would in underwriting? These short sales and REO's are devaluing properties in the area, bringing down the … (2 comments)
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