In spite of the exemption-of-taxation-on-debt-relief expiring at the end of 2012, new short-sale listings in San Diego County are dwindling:
|Month||# of New SS Listings||Avg. LP $/sf|
Apparently those in the position to consider short-selling:
1. Must not be aware of the looming deadline, or
2. Are thinking Congress will extend the period another couple of years, or
3. Are digging the free rent too much to care.
Hopefully those that do trickle out will be in better shape – like this one:
I wonder if banks are betting on things changing after the election? If Wall Street is right then things might turn for the better and they’ll be a lot less of a need for Short sales.
I’ll go with #3.
#3, and the SS/REO pig is finally coming through the python.