Underwater Owners Refusing Short Sales: Real estate professionals say that their underwater sellers are less likely to 
consider a short sale, even if faced with foreclosure. Short sales have fallen sharply over the last few months after the expiration of a key tax break at the end of last year. In May, short sales accounted for about 3 percent of existing-home sales transactions. That's down from 19.7 percent in January 2012, according to data from Black Knight Financial Services. Underwater sellers remove their properties from the market in January and February. Also, rising home prices have made lenders less likely to grant a short sale, The Wall Street Journal reports, read more.
consider a short sale, even if faced with foreclosure. Short sales have fallen sharply over the last few months after the expiration of a key tax break at the end of last year. In May, short sales accounted for about 3 percent of existing-home sales transactions. That's down from 19.7 percent in January 2012, according to data from Black Knight Financial Services. Underwater sellers remove their properties from the market in January and February. Also, rising home prices have made lenders less likely to grant a short sale, The Wall Street Journal reports, read more.
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