I am seeing Temecula Short Sale Homes starting to receive multiple offers and prices increase.
This is happening due to a shortage of inventory now available to Temecula homebuyers and investors.
I am also seeing that more buyers and agents are accepting the fact that Temecula short sales homes are worth the wait. An average Temecula Short Sale is taking 4 months to complete and fewer and fewer short sales are failing. I personally see a 95% success rate on my short sale listing.
Another positive factor with our local Temecula Short Sale market is that almost all major lenders such as Bank of America and Chase have streamlined the short sale process and continue to shrink the time needed to complete a short sale.
I see the major lenders making a large effort to correct our real estate market by offering large incentives to both sellers and buyers in a short sale transaction.The results of these incentives is we can turn the inventory of distressed and underwater properties faster and return to a standard market in a shorter time with less foreclosures.
Temecula Short Sale Homes are good buys,don’t ignore large this segment of our real estate market..