As further evidence of the efforts to stem the wave of foreclosures, this week I received bank approval on two short sales. The process is still taking took about 30 days for both, two separate banks, however, this is a vast improvement from the 45-60 day minimum of six months ago. Countrywide is still overwhelmed by requested and taking longer to respond, but most of the other banks we are negotiating with are improving the turn around times. For buyers, this means you will most likely have a home in better condition if you are willing to wait for approximately 60 day escrow versus the traditional 30 day escrow. For sellers this is encouraging that there is hope for credit recovery.

 If you are considering a short sale, then give me a call…they are not for everyone!