I recently co-presented a class on short sales at a WCR sponsored event. My stats on short sales are:
one, didn't close in 1994 in CA,
Three, closed in 2001 to 2003 in oregon
Two, closed in 2007, one went to foreclosure
One in 2007, I got the private lender to pay the seller moving costs for the deed and the property in good condition.
In 2008 so far, one I lost to foreclosure, and I doubt I will wait around to fail again.
But, for the information I presented to the class ,I polled the 4 local title companies and these are the unoffical stats.
On 10% of the properties listed as a short sale close.
About 20 to 25% that actually make it to escrow close.
To me that all the of this information says....Don't make short sales a career plan, and don't promise you clients success.
Comments (13)Subscribe to CommentsComment