At the nation’s largest mortgage servicers, short sales soared 165% to 74,513 in the first nine months of 2009.  Realtors are beginning to see more accepted short sales and less aversion from lenders who are beginning to understand it is better to sell an occupied house than an empty house which is susceptible to neglect and vandalism.  Also, lenders are realizing it is generally less expensive to do a short sale over a full blown foreclosure.  This is good news for real estate professionals who in the past have experienced difficulty in closing short sales.  Maybe the time has come where the lenders are realizing the advantages of negotiating short sales.  Now, let’s hope the process of a short sale can be streamlined and transactions can be concluded in a timely manner which benefits everyone involved in a short sale as opposed to a foreclosure.

Click here to read the entire article featured on the front page of the LA Times February 18, 2010.

Tags: Gary Carlson, Palm Springs Market Watch, Palm Springs Real Estate, Prudential, The Moore Carlson Group

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