Number Of Approved Short Sales On The Rise

by Cameron Novak on October 23, 2011

in Eastvale Real Estate Agent, Eastvale Short Sale Agent, Eastvale, California, Short Sale

Bloomberg news has recently published a story to chronicle the recent rise in short sale approvals.  As many short sale agents from across the country can attest, the banks have initiated many new procedures to streamline the short sale process and this in turn has lead to more efficiency (and hence, less chance of foreclosure for distressed home owners).  Here’s a bit of the good news from Bloomerg News:

Home Short Sales Rise in ‘Dramatic Shift’ That May Boost U.S. House Prices

There has been a “dramatic shift” in banks’ willingness sell a property for less than the mortgage balance to avoid foreclosing … short sales, typically change hands at a discount of about 20 percent to homes not in financial distress, compared with a 40 percent price cut for bank-owned homes, according to RealtyTrac Inc. Short sales jumped 19 percent in the second quarter from the prior three months while foreclosure sales were flat, the data seller said.

… Banks are starting to “get their act together” with short sales, said Cameron Novak, a broker with The Homefinding Center in Corona, California. The company handles about 15 of the transactions a month…

“There’s been improvement in the last few months, and response times are getting to be a little quicker,” Cameron said in a telephone interview. “It’s about time.”

If you are a home owner who is considering a short sale, please give me a call today.  You may be unsure or worried about the future and that’s normal.  I’ll be happy to speak with you about your situation and offer some useful information which will help you avoid foreclosure and make an informed decision moving forward with a loan modification or short sale of your Eastvale Ca home.

Cameron Novak, Eastvale Real Estate Agent
The Homefinding Center
We Sell Eastvale Ca Homes!

Call us today at 951-212-7479

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