Friday, August 16, 2013

Is there a stigma with 'short sales'?

Is there a stigma with 'short sales'?
Home buyers once saw short sales as big bargains, but their appeal has fizzled in some parts of the country — so much so that some real estate professionals are advertising listings as 'not a short sale' to attract more buyers.

''Short sale' does have a stigma now,' says Summer Greene, regional manager of Better Homes and Gardens Florida First Real Estate in Fort Lauderdale, Fla. Greene says getting bank approval for a short sale can be difficult, and the process of buying a short sale can take four to six months in her area. 

“One of the most overlooked aspects of this recovery is that for many workers, incomes are not rebounding in step with local housing markets,”

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