It's all here! News on the Tucson real estate market, tips and information for your Tucson real estate needs, and my occasional "likes" about Tucson and all the things we love about it. Read on!
Tuesday, December 3, 2013
Short Sales Lose Favor With Lenders in Addition to Buyers?
A few weeks ago I wrote a post about Buyers losing patience with short sales. Now I read that, as the housing market recovers, it is the lenders who are starting to frown on short sales as well. In the article linked below, Daren Blomquis of RealtyTrac says that rising home prices, along with strong buyer demand at foreclosure auctions and for as-is foreclosed properties means that short sales are becoming a less favorable option for lenders.
Nationally, short sales represented 5.3% of all sales in October, down from 11.2% last year in October. Let me do a little research and I will post the year to year stats for the Tucson MLS at the end of this week.