Local property sales down for seventh consecutive month As the nation struggles with rising food and energy prices and endure further fallout from the subprime mortgage crisis, total property sales in the Houston area fell again in March, marking the seventh month in a row of declines. Light at the end of the tunnel...? Read more...
The WSJ noted the vast increase in the number of short sales occurring - even through traditional realtors.
According to a story published Friday, short sales now account for 18% of home sales.
Having worked the short sale market extensively, we know this number to be high.
However, there is no question that the ability to close short sales is essential for any real estate operator right now.
[Full Disclosure: HoustonRealNews receives a LOT of short sale leads from realtors who do not know how to handle them and from homeowners themselves. We have a short sale leads service coming online shortly.]
