When you are looking to sell you home and you need to sell for less then you owe you are selling Short. In the Real Estate business the term is called “Short Sale” or “Short Pay” and “Pre-foreclosure”. In the short sale scenario, the bank agrees to accept less than the full balance due on the debt, and usually ‘forgives’ all or a large portion of the difference. However depending on you individual circumstances the bank might request you to bring something to the table.
How
will the Short Sale affect my credit?
Short Sales are still a relatively new concept. Banks have the option
of
submitting the short sale to the credit bureau as "Paid in Full" or
"Settled for less than full balance". As far as your credit score is
concerned, there is no evidence whatsoever to support that a short sale
will
lower your credit score. Some have the idea that this is like a
bankruptcy or a
foreclosure. That's far from the truth! In a short sale, the lender is
simply allowing
you to pay less than you owe!
If you are currently behind on your mortgage or facing foreclosure, the
short
sale will actually help your credit! How? Because once you are approved
for the
short sale, all collection activity will STOP and you will avoid
foreclosure!
When selecting a Realtor® you should search out an agent to has the experience and credentials, Janet O’Brian is just such an agent. Janet has a 97% closing rate and will negotiate the best deal possible for you.
Keller Williams Realty AV Ranked #1 in the Antelope ValleyJanet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures
Monthend Numbers
| Jan '10 | Dec '09 | Nov '09 | Oct '09 | Sep '09 | Aug '09 | |
| Listed | 691 | 598 | 756 | 659 | 701 | 691 |
| Pending | 556 | 507 | 667 | 593 | 725 | 564 |
| Sold | 369 | 517 | 565 | 549 | 564 | 61 |
Dailys* Statistics
track the
current Real
Estate Market in
the
Antelope Valley, Palmdale
& Lancaster.
| New Listings | 46 |
| Back on Market | 8 |
| Price Increases | 8 |
| Price Reductions | 18 |
| Pendings | 39 |
| Solds | 28 |
| Expireds | 2 |
| Inactives | 11 |
| Month to Date and Projected open Escrows* | |||
| Total Active | 1,320 | ||
| Total Active Core Area | 893 | ||
| Total Active REO's | 213 | 4 | Added |
| Total Short Sale | 285 | 6 | Added |
| Pending MTD/Projected | 534 | 598 | 57.1% |
| Sold MTD | 305 | 342 | |
| Sold Last Month | 369 | -7.4% | |
| Last Year Month | 600 | -43.1% | |
| Active Listing Mix | |||
| REO % of TTL | 23.9% | ||
| Short Sale % of TTL | 31.9% | ||
| REO+SS % of TTL | 55.8% | ||
| Normal % of TTL | 44.2% |
Absorption Rate*
Current Month 1.6 Months
At Last Months Rate 2.1 Months
Historical High Active Listing - 5300+ Mid 2007
Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you! Call us today. If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. Or Keller Williams Realty AV
(Quick Mapping Links for Core Areas)
Palmdale
Lancaster
Ana
Verde
Ritter
Ranch
Quartz
Hill
Leona
Valley
Lake
Hughes
Lake
Elizabeth
*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping. All figures are Single Family Residential only.
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