Weekly Short Sale Roundup | Are Fast Short Sale Approvals Possible?

Reblogger
Real Estate Agent with Exp Realty - Atlantic County

This is a post that I thought was worth sharing in my community. I am in the state with the second longest # of days for foreclosure. Short sales done right, do seem to be pretty painless. On the othe hand if the agent has no training, I'd rather go to the dentist.

Original content by Melissa Zavala Cal BRE #01324959

short sale newsEach and every week, there are things going on that impact the short sale business. Sometimes there are big changes to federal and state policies that impact short sale processing and the distressed property world. Other weeks, there is news about government programs for distressed borrowers.

Read below to learn about some of the interesting stuff that went on this week in the distressed property arena:

Freddie Mac Aims for 75% Reduction in Short Sales Timelines It’s a lofty goal, and I’m not confident that they will achieve it but you may want to read about Freddie Mac’s plans for 2013. I’m aiming for 5 million dollars in earnings, but that might not be so easy to achieve either.

11 States with Highest Foreclosure Rates Spoiler alert: California is on the list. But, thankfully, we are not number 1 (although I hope we will be number one at the Super Bowl)! Check out the other 10 states!

Two Blinks of an Eye = Short Sale Approval If only it were that easy… then I would probably be out of business. This article provides some tips for how to get your short sale game on.

There’s lots going on in the distressed property arena. And, if you are actively working with ‘distressed’ borrowers, it’s important to keep up with all of the changes in the industry. Sometimes that’s hard, which is why I’ve provided you with a weekly recap right here.

 

Melissa Zavala 
BROKER/REALTOR® ● DRE #01324959

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Comments (2)

David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Steven - no doubt that short sales can go well and with little inventory in many areas buyers can't aford to ignore them. In CA our short sale addendum allows for 45 days to gain short sale lender consent at which time either buyer/seller can cancel - not that they do if the timeframe surpasses that. If the seller has the short sale package ready to go 45 days seems reasonable and attainable but lots of horror stories out there. Regards Dave

Feb 02, 2013 02:01 AM
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Hi Steven. Thanks so much for reblogging my post. Are you going to watch the Super Bowl today?

Feb 02, 2013 10:20 PM