5 Short Sale Buying Tips

To ensure you continue to receive e-mails from us, please add realtytrac@realtytrac.com to your address book today. The Foreclosure Authority™     Why call it a short sale when it’s such a great way to build long-term wealth? Short sales – where homeowners who owe more than their properties are worth sell at or below market prices to avoid foreclosure – are on the rise nationwide. RealtyTrac data shows that short sales of properties in foreclosure accounted for 12 percent of all sales in the first quarter of 2010, up from 10 percent in the previous quarter. Even better news: short sale prices nationwide in the first quarter were an average of 15 percent below non-foreclosure sale prices – and the discount was 20 percent or higher in 27 of the 50 states, including Virginia, New Jersey, Florida, Texas and California. Banks are finally getting wise to the fact that short sales are often a better alternative than bank-owned REO sales. That means you’ll find short sale opportunities that are more streamlined – and more profitable for your pocketbook. But your chance to get into the short sale market is limited. Short sales won’t last forever. The time to buy is now. 5 Tips for Buying a Short Sale Finding short sale bargains on RealtyTrac. RealtyTrac helps you identify which pre-foreclosure properties are short sales and potential short sales – and which of those offer the biggest discounts, the best equity-building and the most cash flow or profit potential because, after all, not every short sale represents a good buy. Watch Video: "How to Find Short Sale Bargains on RealtyTrac" Follow us on: Facebook Twitter RT Community

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