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Recent Real Estate Articles
The Short Sale Process In A Nutshell
Many people have heard the term short sale, but most are unfamiliar with its definition or process. Short selling has become more widely accepted in the real estate market in the past two years as a way to keep more distressed properties from entering into full foreclosure.
Short Sales 2010 Statistics
Recent data from the national Association of Realtors has shown that the first half of 2010 has shown a slight increase in short sales among at risk properties. A 2.3% increase is the average for the nation. While some areas have higher amounts, many areas are showing less than 1% increase.
Foreclosure Statistics 2010
Foreclosure statistics for the first half of 2010 have been released; the results are mixed. For the first 6 months of the year foreclosures were down 5 % from the previous 6 months. This is a good sign, showing that mortgage modification programs may be helping and that the economy may be turning around. However, these same numbers were 8% above the same time period for 2009, a bad sign that recovery may still be far away. The next six months will be the deciding factor if the housing market is improving or not.