I’ve created another real estate site for Twin Cities home buyers and sellers. Free reports and lots of information is available at TCMetroHomeInfo.
Items you’ll find at the site include:
Short sales are becoming more and more prevalent in the Twin Cities real estate marketplace. More and more of the banks are starting to come around that a short sale might indeed be a good option for them to consider. It may also be a good option for the homeowner to consider.
At this point it’s still a somewhat laborious effort and it takes some time, but there just is no easy way out from underneath a mortgage when the home is upside down and the homeowner is having financial difficulty. I do envision at some point that this process will be sped up, but for now, it’s likely to take 90-120 days to see a short sale through to completion.
I’ve created a site dedicated to helping homeowners avoid foreclosure in the Twin Cities. There is also a page entitled, Short Sales Explained.
Calculated Risk just posted a story based upon a national home buyer financing survey conducted by Campbell Communications. There are some interesting data points highlighted in this post. It confirms much of what I have seen in the Twin Cities marketplace mainly:
In case you missed my earlier post, the Minneapolis Area Association of Realtors has published their latest Foreclosure and Short Sales Report for October, 2009.
