Here is a recent article about short sales in USA Today.
http://www.facebook.com/ext/share.php?sid=108582182695&h=sVpXU&u=n4t8k&ref=nf
This article really talks about how hard it is to do a short sale and the importance of having professional working with you who know what they are doing. Make sure that who ever is working on your short sale knows what to do, how to do and will not give up
Mike Sher
Some facts from the article to be aware of:
- 11% of sales in June were short sales. (says NAR)
- In March of 2008 the average short sale acceptance time was 4.5 weeks and while the last survey done in June 2009 averages 9.5 weeks from offer to acceptance. The surveys were sponsored by Inside Mortgage Finance, an industry publication.
- Just 23% of short-sale offers that homeowners receive from potential buyers actually close, according to a February study of 1,300 real estate agents by Campbell Communications.
Mike Sher,
Office: (248) 644-4700x242 Fax :(248) 499-1020 Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com
CDPE (Certified Distress Property Expert)
MCAR, Short Sale Trainer
Max Brook and Real Estate One Short Sale Specialist.
The Mike Realtor Team Blog - Metro Detroit/Oakland County
Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City
But, We Can Help!
This is a competitive real estate market. If you have to sell and can not, perhaps it is time to look at a Short Sale. The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.
