Short Sale News: Ratings Agency Forecasts a Stronger Year for Short Sales in 2013

Even though the number of foreclosure filings has risen dramatically in recent months in some parts of the country—specifically in judicial states—the ratings agency DBRS expects total foreclosure filings to show evidence of a steady decline in 2013 when compared to 2012. This is due to “the record number of servicers that are using short sales as their primary loss …

Short Sale News: Distressed Sales Interfere with Accurate Appraisals: NAR

Inflated appraisals were identified as one of the causes of the housing bubble, and now undervalued appraisals are viewed as a reason for a stalled recovery. In a September National Association of Realtors (NAR) survey related to home appraisals over the past three months, 11 percent of Realtors said a contract was cancelled because a home was appraised at a …

Short Sale News: CoreLogic: Home Prices Sustain Recovery with 4.6% Yearly Gain

Home prices continued to trend upwards in August, posting both yearly and monthly gains for the sixth consecutive month, CoreLogic reported Tuesday. When including distressed sales, home prices in August rose 4.6 percent from a year ago, marking the biggest yearly gain since July 2006. Month-over-month, prices were up 0.3 percent from July to August. When excluding distressed sales, which …

Review: Bank of America New Short Sale Relocation Assistance Program

On August 22nd, 2012 we closed a short sale with Bank of America in El Cajon, CA. The transaction moved along very smoothly. We initiated short sale on May 23rd. It took about 20 days to receive a short sale approval (Short Sale Relocation Assistance Program). We received the first offer just 4 days after listing the property on June …