We are seeing homes under $500,000 regardless if they are a short sale, bank owned foreclosures, REO’s or just a plain old regular sales are receiving multiple offers and are selling quickly in just a few days on the market with aggressive marketing.
Multiple offers are the norm and in select areas 20-30 offers on a property in the first week are not uncommon.
In 2008 we saw a raise in short sales as banks were staying foreclosures in order to explore work outs with distressed home owners or home owners that could not afford or that were behind on their home loan and mortgage payments.
In 2009 we saw a spike in bank owned foreclosures and REO’s as the Federal programs ran out and bank moved to clear their books of the non-performing assets.
With a small spike in short sales at the end of the year.
As we begin 2010 we are seeing a spike in Short Sales with the speculation that they will only continue and out pace the other sales on the market as the year progresses.
The Federal Government is implementing programs and incentives for home sellers and lenders to explore home workouts, loan modifications and last resort a short sale.
The major lenders are implementing whole new departments under the Governments new HAFA programs rolling over the next couple of months.
As 2010 unfolds we should see a dramatic increase of short sales on the market and a sharp decline in foreclosures and bank owned properties.
If you or someone you know is having issues with their home loan or mortgage.
Please contact me, and as with all of my loan mods and short sales, there is never an out of pocket expense from the seller!
Call or Email us Today!
Cheers,
James Baxter
REALTOR
NSDCAR, NVSI-BPO
Richard Realty Group, inc
5411 Avenida Encinas Suite 110
Carlsbad Ca. 92008
760-271-9971 Direct
760-942-9398 Fax
james@BaxterCo.com
www.JamesBaxterHomes.com
If you know of some one that is looking to buy or sell a home, give me a call, text or e-mail
“Average is what anybody can do. Excellence is what I strive for.”
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home buying or home selling information for Carlsbad real estate, Encinitas real estate, Solana Beach real estate, Del Mar real estate, Oceanside real estate, Vista real estate, San Marcos real estate and surrounding areas.
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James Baxter
Excellent information. I will pass this article along to my coworkers!