During the past few years we have seen the peak of foreclosures and bank owned real estate listings swell to high levels and then start their reduction.
Sounds like a new year’s resolution 🙂 related to weight loss.
The Southern California foreclosure and bank owned real estate market is starting to return to “normal” levels where distressed listings are around 1% of the available inventory.
We are not there yet – but by the end of 2017, I’d imagine we will be.
Short sales and Short pays were also addressed during the real estate radio show. The choice of some sellers related to their short sale realtor can pose issues.
It could be that the bank is only going to give the short sale listing agent one crack at the proverbial short sale process.
If that agent is not “active and relentless” on keeping in touch with the short sale buyer’s agent – the seller is being done a disservice.
Also, if the buyer walks – there is only a short time when that short sale bank will allow a replacement offer to be submitted.
The short sale agent needs to be on their game and experienced to boot!
Have a great day and please check out our HousingRadio Broadcast every day – I’m Connor MacIvor with REMAX of Santa Clarita and I’m glad to be of service.