The tides are changing in the local San Jacinto, CA real estate market as short sales take on a greater number of closed escrows each month, over the past 12 month period (November, 2008 thru October, 2009).
Prior to June, 2009 the most Short Sales to close escrow in a month was 6, in April. December and January saw 4 and 5, respectfully and November, February and March only saw either 2 or 3 closed short sales. June reached the level of 8 closed short sales in a single month and after that we have been in double digits every month...with an increase every month; starting with 12 in July we went to 15 and 16 in August and September and finally up to 24 closed short sales in October, 2009!
As encouraging as the trend is for those who are involved in short sales it still must be pointed out that over the past 12 months 546 listings were assigned for sale and only 101 actually closed escrow, as per the MLS.