Short Sales Still Causing a Stir In The Market.

Well, the title says it all, so I’ll just stop typing now.

 

Truth be told, about 55% of the few listings we have on the Sacramento home market are still short sales. We’ve got a few more years until the Sacramento Real Estate market is mostly cleansed of these pesky little buggers! That is, as long as home values keep increasing, we can expect to see short sales start to diminish.

What really prompted me to write this entry was a phone call with a potential client. She insisted that when we go look at property, that none of them be Short Sales–she’s heard the stories of the roller coaster ride it requires to purchase one of these homes!

So, I started quoting the figures, 55% short sales, 11% foreclosures in Sacramento–many of which need repair, and will have cash offers, and, etc., etc.   My point to her being–we can look for a non-short sale home and put in several offers over three months or more ( because every decent home for sale is getting multiple offers, her offer may not get chosen on the first home she offers on), or……we can include short sales and stand a better chance of having our offer accepted.

Short Sale work out time is 60 to 120 days, depending on the lien holder. Home buyers in Sacramento can be touring property and writing offers for 60-90 days until they get an offer accepted. Not much difference in time frames, so why disclude short sales from your search?  Most of them do go through!

Just a thought. Go make strong offers on homes that you really want and love. You have to live there, and despite the low inventory, you will find a house to call home. Get it!

 

And good luck!

 

 

 

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