Single family residence professionals: what percentage of your deals involve shortsales?
50% or more. (54%, 59 Votes)
25% (21%, 23 Votes)
5% or less. (20%, 22 Votes)
15% (5%, 6 Votes)
Total Voters: 110
The number of shortsales nationally exceeded that of trustee’s foreclosure sales, or real estate owned (REO) sales, according to Lender Processing Service, Inc. (LPS). Nationally, shortsales increased from 16% of home purchases in January 2011, to 29% of home purchases in January 2012.
Foreclosure sales nationally decreased 5% over the past year, from 25% of home sales in January 2011, to 20% of home sales in January 2012.
The data division of LPS proffered shortsales as the best option lenders have for negative equityThe condition of a property owner owing more on a mortgage than the current fair market value of the encumbered property. property, reporting the purchase prices for shortsales sales were 6% higher, on average, than for foreclosure sales.
End of free preview
The rest of this content is only available to first tuesday Members. If you are a current first tuesday Member, please login above.
Not a current Member? For only $29.50, our Annual Membership includes access to: