Short Sales on Track to Outnumber Foreclosure Sales

By Nancy Braun, Showcase Realty

According to a recent Business Week interview with RealtyTrac (a website that monitors foreclosures across the U.S.), short sales of U.S. homes reached a three-year high in the first quarter of 2012, and RealtyTrac predicts short sales will outnumber deals for foreclosures in the second quarter.

The reasons banks are open to pre-foreclosure sales are clear: they want to reduce losses, take advantage of government incentives and avoid legal challenges to foreclosures. And short sales, on average, result in higher sale prices than foreclosed properties.

Showcase Realty’s Short Sale Advisors are available to help residents of the Charlotte metro area who are behind in their mortgages or facing foreclosure. We can give you expert guidance and maybe a little peace of mind. A word to the wise, however, the sooner you get in touch with us, the more options you will have.

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