|Month||2009 SF||2010 SF||2009 Condos||2010 Condos|
What this means for you:
-Buyers: If you have the time and PATIENCE to purchase a short sale, it could be a good investment. If you do not have the time and TONS of patience (the deal could last 8 months and all fall apart at the end), stay AWAY from short sales.
-Sellers: Your biggest competition is any short sale in your area, since they will usually be lower priced then yours. Make sure your realtor markets your home as "NOT a short sale", and "quick possession" on the MLS so people will know they won't have to wait to purchase your house.
-Owners in default: A short sale is probably the best decision for you if you are behind on your payments and cant catch up, and cant get a loan remodification. It will be easier on your credit, and you will be able to get another loan for a home even 2 years after your short sale and you repair your credit. And it's totally free (dont use anyone who charges you).