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Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!

Jim Klinge
Cell/Text: (858) 997-3801
klingerealty@gmail.com
701 Palomar Airport Road, Suite 300
Carlsbad, CA 92011


Posted by on Nov 12, 2012 in Short Sales, Short Selling | 0 comments | Print Print

Short Sales Dwindling

The extension of the debt-tax relief act is still up in the air.

There have been several bills submitted, and everyone from the N.A.R. to the nytimes.com thinks there is a good chance that our Congress will extend it….but will we need it?

Did the threat of it expiring cause a flood of short-sale listings to hit the market recently? Not really, for the September/October period, there were fewer short-sale listings than in previous years.

NSDCC Detached-Home New Listings, September/October

Year Sept/Oct SS Listings Sept/Oct Non-SS Listings SS/Total %
2009
67
698
8.8%
2011
82
674
10.8%
2012
55
575
8.7%

With recent upbeat news about the housing market, those who are underwater and hanging on this long are thinking that if they wait just a few more months or years, it will be different – and prices might go high enough for them to make some money!

After the next high sale in each neighborhood, expect that there will be 2-3 more new listings hit the market, looking to capitalize – but only if they can get their price.

P.S. Of the 55 listed this Sept/Oct, only six are still for sale.