Real NEWS | Short Sale Insight

There’s a lot of talk about short sales these days (certainly I have posted a bunch about it), as they are a reality for a growing number of people and common in our marketplace. But this article does a good job of speaking plainly about what they are, why they are challenging, and what’s being done to try to improve the process.

Thought this summed it up well :

We want to do short sales [because] it’s good for the homeowner, institution and community. It’s good for the homeowner because it lessens the credit impact and allows them to be in control when they move and how they go about it. It’s good for the institutions because they lose less money and don’t have to take properties back. And it’s good for the communities because the housing stock stays in a better condition.

—Doug Shepherd, President   |   Inland Valley Association of Realtors