Short Sales Surpass Bank Sales First Time Ever
Thursday, April 19, 2012
For the first time ever, according to Bloomberg short sales have surpassed bank owned (REO) sales for the first time ever. It seems banks have come to realize they can make more money on a short sale than going through the entire foreclosure process. (see link to article at http://tinyurl.com/7mt7f82 )
For home sellers this is a good thing because a short sale has a far less detrimental effect on their credit report, making life a lot easier sooner. The Rob Levy Team is well versed in short sales whether representing a buyer or a seller. Much of our business is short sale related, and we have taken many classes to always be up to date on the latest trends in getting the deals through. If you have any questions regarding a short sale - whether that be buying one or selling one - please contact us today!
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