Short Sales Help La Quinta Neighborhoods Maintain Value

How do short sales help La Quinta neighborhoods or any neighborhood in the Palm Springs area for that matter? Although short sales are still distressed sales in nature, they actually have many benefits compared to foreclosures.

To start, short sales help retain higher property values. When a La Quinta primary homeowner decides to do a short sale, they are still able to occupy the home during the process and with this are able to better maintain the home as well as the landscaping. Vacant foreclosed homes in La Quinta and the surrounding area attract unwanted vandalism that could further depreciate the property values.

Short sales also allow homeowners a pre-foreclosure transition with support rather than the negative stigma of a foreclosure. It also allows a second chance at homeownership more quickly. La Quinta borrowers may be able to buy again by re-establishing a credit history as soon as 2 years after a short sale versus 4-5 years after foreclosure.

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 The Lori Bowers Group Desert Properties, La Quinta, CA