Short Sale Fundamentals are Strong 27

short sale growthThe numbers have officially come in – even Fannie and Freddie are die hard supporters of short sales. They signed off a record breaking 38,000 short sales in the third quarter of last year. The accelerated timelines and streamlined approval process have made short sales the only sane option for struggling homeowners.

These numbers should blow you away. You might listen to all the hype about how scary the market is now, how fragile our recession is, how easily everything could head down the drain. But despite the dangers of the “fundamentals” (high unemployment, high debt) I believe the mindset of the country has changed.

What I mean by that is, from top to bottom, from distressed homeowner to government mortgage insurer, everyone has come around to the dangers and costs of foreclosures. And they’ve realized short sales are the way to go. I think that “fundamental” outweighs all the other risks.

Do you think we’re about to head down hill? Do you think the fiscal cliff is going to be too much for us to handle?

Leave your thoughts below right now.

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27 thoughts on “Short Sale Fundamentals are Strong

  • James Eisberg

    Short sales are the way to go. But banks have got to be reasonable. I had an interesting case at the end of last year. A short sale had fallen apart and I stepped in with a client’s self-directed IRA and snapped up the property without the competition that had walked off with the four properties I’d made offers on in previous few months. We had to, and did, go to settlement four days after the offer was received. Somehow, not only did the bank accept less, but the condo association took $5K and change for a $33K debt. (I am so glad I wasn’t around to watch those negotiations, but happy to have stepped in after the previous buyer bailed.)