My experience doing short sales is either paying off, or the process is getting easier! My latest transaction was assigned a negotiator, appraised, and ready for submission within 5 days of submitting the offer! That's fast. Too date the quickest too close was a short sale with Suntrust, that closed in less than 30 days.
Hopefully, the inventory will continue to drop, as it has been doing. In some key neighborhoods, the inventory is down half from a year ago. Less inventory will lead to price stability, which will level out the market.
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As an update The banks are getting better in general dealing with the volume of short sales coming at them. The time from sending in am offer until the first response from the bank is getting shorter. For a while I was seeing it take sometimes months before Any one to contact me or my home seller. Now it takes a few weeks at most. Even with the worse lenders like bank of america countrywide and indymac.
If you need help I am ready to get to work for you.
Joe Murphy
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