Orlando Short Sales are they getting any easier ??

I have completed a lot of short sales here in the Orlando area, but are short sales getting any easier?   I know there is a lot of lip service being given to short sales getting easier or faster to close, I compare this talk to loan modifications,  lots of talk and little real action. Well, the process for some short sales are getting easier because some banks or loan servicers are now using processing platforms such as Res.net and or Equator to collect the data but it does not mean they approve them any easier. The latest excuses are, these are the investor's guidelines, they want this amount, and sorry the short sale is denied. Well, where are the investors getting the wrong value information from?? Nobody is buying a home for $180,000 just because these are the investor guidelines, when the values are at $150.000. Well, why did you turn down the $170,000 offer I presented to you 5 months ago or the $200,000 offer 18 months ago? ???? There is silence on the other side of the phone. I never understood why investors turned down $150,000 offers, then foreclosing on the property 6 months later and eventually selling the same property for $130,000 minus all the expenses.  Do the math, how can this help anyone! Why are property values dropping, this is the answer. 43% of the inventory in the 5 county area are short sales but only 21% of the closed sales in August were short sales which eventually closed. In the 5 county area there are 15,271 short sale properties right now for sale, imagine 22 months of unsold inventory, every day  are dropping in value and eventually  going bank owned.

Here is what property values have done last month on a per square foot basis, in Orange, Lake, Seminole, Osceola and Volusia county,  they have all fallen as much as 7 % over the month of July.

•·         Orlando - 7%

•·         Kissimmee - 1%

•·         Deltona - 3 %

•·         Orange County - 4%

•·         Seminole county - 6%

•·         Volusia Count y - 6%

•·         Lake Count - 4%

•·         Osceola County - 3%

The faster these properties are sold the faster the market will stabilize, at this rate we have years to go.