Survey shows buyers tire of Short Sales ........
Duh .... where have you been? I love these type of real estate related articles where the person offering up the data is not currently selling real estate and probably never has.
Here's the report breakdown -
- Short sales take 17 weeks to complete.
- 54.1% of Shorts in 11/2009 were 1st time buyers, now it's down to 39.7% in 8/2011.
- Short Sales generally sell at 27% lower than non-distressed properties. Always wonder where they get these numbers?
- First time buyers are making multiple offers on Short Sales to try and expedite the process .... Wha?????
How can that expedite the process? Just goes to show you the author never wrote a contract on a Short Sale.