I just posted up on my homebuysblog.com website, information for sellers so they can better understand the short sale process.
What is a short sale and can I sell my house short?
Additionally, as a buyer the information is very useful so you can better understand some of the issues that sellers have to work through in the short sale process.
In Simi Valley, only about 10% to 12% of all houses listed as short sales close escrow. For single-family detached homes in Simi Valley, we are averaging about 80 closings a month. If you look at huge number of escrows open each month, you would be led to believe that our closings should be double or higher.
There is discussion that the banks are reorganizing their short sale departments in order to stem the flow of future foreclosures, the closing ratio is still low and those planning to sell their home short need to understand their situation, be organized, be persistent and work with a professional that understands the intricacies of the short sale process.
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Thanks for reading
Author - Ted Mackel Simi Valley Real Estate Agent - Keller Williams Realty
Ted Mackel is a top producer at Keller Williams Realty Simi Valley,
specializing in Simi Valley Real Estate
(805) 432-7705
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