Lenders are slashing prices on Short Sales

Posted on October 11, 2008
Filed Under Short Sales | Leave a Comment

The word is out that lenders are slashing prices on short sales across the country. What does this mean for you?  Well, a couple things.  First of all if you are a homebuyer you can pick up especially good deals and be able to low ball offers on short sales (within reason) and have a higher chance of getting your offer accepted.

For sellers the advantage is their home will sell faster as buyers can bring in lower offers thus appealing to a wider base of homebuyers that otherwise would not be able to purchase the home in the current list price range.

An exceptional loan that is available to purchase short sales is the FHA loan which requires a very low down payment.

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