This is good news for real estate investors, but honestly, something we at SREC never stopped doing, even when things got really tough. Short sales are once again are becoming popular with investors. According to a recent survey by HousingPulse, the percentage of investors pursuing short sales rose by nearly 3.5% in a six-month period.
During the same time frame, investor share of all short sales rose by nearly 5%. By contrast, the percentage of homeowners pursuing short sales fell. This can be attributed to the long approval times from mortgage servicers and the unknown closing dates. The average homeowner does not have the resources to wait it out like an informed, experienced investor can. To date, nearly 50% of all the homes on the market are distressed properties, which represents an amazing opportunity for investors.
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