Short Sales On The Rise In Los Angeles

October 27, 2011 by  
Filed under Short Sales On The Rise In Los Angeles

The latest real estate figures show a spike in short sales in the greater Los Angeles area.  In September, in Glendale, almost 50% of homes sold were short sales.  In Burbank, the ratio was 34% as compared to 16% at this time last year.  As home values continue to decrease, homeowners in debt are left in a serious bind.  Underwater on mortgages, homeowners might have finally found the perfect way to of preventing foreclosure.

The rising number of short sales indicates that our economy and the housing market is still in a slump, but it;s a positive sign for debt ridden mortgage holders.  Short sale is your best option to prevent foreclosure, flip your property, and decrease your debt…and these figures only show that people have finally caught on.

If you’re fighting off foreclosure, consider a short sale.  Homeowners throughout California have realized this best bet option, and short sales are making up a considerable amount of the housing market, even in wealthier areas like Beverly Hills, Santa Monica, Westwood etc.  For more information on Short sales and the benefits, contact today.

Housing Assist Coldwellbanker