Decrease In Short Sales

Decrease In Short Sales

Short sales traditionally have been a tough purchase because you’re dealing with a bank and the closing on that property can take anywhere between 4 months to a year.

However there are indications in the market that short sales are slowing down … which is a benefit for investors.

Inman News keeps up on the real estate market conditions and in a recent article they discussed how short sales are decreasing due to the rising of prices in certain markets.

“We expected foreclosure-related sales to be lower given the downward trend in new foreclosure activity nationwide over the past two and a half years, but the decrease in nonforeclosure short sales was a bit of surprise given the 11 million homeowners nationwide still underwater,” said RealtyTrac Vice President Daren Blomquist in a statement.

Rising home prices can reduce the incentive for lenders to sign off on short sales, RealtyTrac noted. A failed short sale may no longer translate into bigger losses down the road, because average prices of real estate owned (REO) homes are rising. In many markets, REO prices are rising at a faster pace than nondistressed home prices, RealtyTrac said.”

As the market is starting to shift upward throughout the U.S., it’s important to keep up on the condition
of real estate in your area and areas around you. We will be talking more about how the market is changing and how we can take advantage of the conditions ….
One example is working with speculative buyers. This is something that Dean has been teaching for several months now and we are starting to really see how important these speculative buyers will be as we continue to invest in real estate.

See more at: http://www.inman.com/2013/05/29/rising-home-prices-denting-short-sales/#...

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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125