Four Essential Facts About Short Sales
- Procrastination is common in stressful situtations – take it easy on yourself
- A short sale is designed to help you find stress relief (mental, physical and financial) and get on with your life … call or email now for the Three Proven Steps to a graceful transition
- Short sales help the bank minimize their losses
- In the last year the average time on the market for the 1391 Marin and Sonoma short sales (that succeeded) was … unnecessarily … over six months.
Short sale def. The sale of a home where the debts exceed the net sales proceeds.
Short Short Sales
11 days into a two-loan, Santa Rosa short sale, Wells Fargo called the homeowner to say, ‘The debt is being forgiven.’ The sale closed shortly thereafter. The owner, Michele and I high-fived because in Sonoma County last year the average short sale took 198 nights.
Long Short Sales
A San Geronimo Valley home I’m showing tomorrow has been on the market 375 nights. Imagine emotional toll and stress the 375 sleepless (?) nights of tossing and turning have had on this family. Add to that, the lender is foreclosing and one of these days the owners will come home to a bold Notice of Sale posted on their door. Not fun.
Why do some short sales sail through with nary a hitch?
In the very quick Santa Rosa sale noted above, the seller (who has the most to gain), the buyer, banks, real estate agents, escrow officers and inspectors were a team. This quick sale was documented in 97 emails. The key to success is … Communications, communications, communications.
A New Wrinkle
Since the passage of SB 458 some lenders will cooperate with the short sale and others will foreclose and go for deficiency judgments …
To find out more about short sales, which are constantly changing, go to:





