Short Sales and Foreclosures in Palm Springs

I am noticing a lot of short sales are selling at very close to full price and some of the better ones may have several offers on them. The market here has changed a bit. The good bank foreclosures also have multiple offers as well. I have several clients that are waiting for the bank to sort through the offers and get a response; it is not for the faint of heart and can take two to four months or more to complete a short sale. Foreclosures are tricky also and most people don't know that the bank can get an offer at the last second and accept it, even if you have been told you are 1^st in the running.

Short Sale negotiators may have hundreds of files on their desks, so you must have good steady contact. I have sold dozens of short sales starting back to the 90's when we had another low here in Real Estate, none of them were easy.

It is easier to work with a bank foreclosure because you get a more prompt response to your offer (two to five days) the good news: There still some fantastic deals here!!!