Short Sale Numbers on the Rise

September 6, 2011 by  
Filed under Blog, Short Sale Numbers on the Rise

Short Sale Numbers on the Rise

In many states, short sales are increasing as homeowners in debt are trying desperately to avoid the devastating effects of foreclosure.  In the second quarter, short sales accounted for 12% of sales nationwide.  This number is up almost 10% from this time last year.  This increase was particularly sharper in California.

California Real Estate has always been expensive and desired, only with the recession, the housing market has taken a hit.  Instead of choosing to foreclose on their properties though, homeowners are taking advantage of the short sale, saving themselves from the pitfalls of foreclosure.

Short sale homes retain their value better than homes that go through foreclosure.  This, of course, helps the value of neighboring homes.  The more foreclosures, the more damage down to the value of houses in the area.  Because of this, short sales not only help the homeowner, but the  neighborhood as well.

Housing Assist Coldwellbanker