The Short Sale transactions that we have been a part of this month have proven to all have challenges. Mostly due to the banks lack of training with their negotiating and processing department. Most of the Short Sales in Minnesota that we negotiate are taking between 45 and 90 days depending on the lener or lenders that are involved.
Look for even more sellers to do short sales throughout 2011. Virtually 60% of the calls we are getting regarding listings involve short payoffs. Pricing will surely be affected but not at the level it would be if those sellers were giving their homes back to the bank.
A couple of Eden Prairie Short Sales that we have been working on have actually sold above where we predicted them to. This has told us buyers are not as turned off by them as they were a year ago.
Call 952 943 1324 to learn more about Minnesota Short Sales
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