Tempe Real Estate's Top Agent Wants to Help You With Your Short Sale.
Posted Oct 6, 2009 @ 7:33 pm, Viewed by 232 Visitors, Read 235 Times.There was a time not long ago when short sales were quite taboo. For a long period, you would be hard pressed to convince an agent to show you a short sale property. Why? Well, the conversion ratio of successful short sales was about 10%. That means that we were expecting one out of 10 to close. The rest of the time, we'd expect to hear that the bank rejects the short sale for one of 100s of silly reasons.
Times have changed! These days, we are batting about 47%. That means that almost half of the short sale contracts get completed. That number may seem low, but there are other reasons for fall out such as financing or inspection contingencies. In fact, short sales are now closing at the same rate as regular resales. The only one that is closing better are the foreclosures, which close more than 8 in 10.
So when you are ready for a professional to perform your short sale, look no further than Tempe Real Estate!
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