Are Santa Maria CA short sales getting a little easier? Maybe I’m on a high because I just received a short sale approval today, and I’m in escrow on another approved short sale that will close in less than 30 days. But, it seems like more and more short sales are being approved every day. A buyer of mine received an approval on another short sale they bid on two months ago (although they decided to decline the home), and lately I’m noticing an increase in the amount of “approved” short sales on the MLS. I am reading about Realtors in other markets around the country having tremendous difficulty with short sales and not getting approvals, and it seems like some of the hardest work has been done in our market. Lenders appear to understand that these short sales must go through, there is no turning back. Now don’t get me wrong, some lenders are still heavily burdened by the number of requests and this poses the most difficult obstacle, but it seems that the approvals from many banks are coming in steadily.
What does this mean? For buyers I think it means that shopping for short sales in Santa Maria has become more of a viable alternative for them — they just need patience, but their patience will likely be rewarded. And they must keep in mind that given the competitive state of our market, being the winning bidder on a short sale is still quite difficult, especially if the home is very desirable. But, short sales can no longer be easily ruled out as the supply of homes decreases and the number of approvals appears to increase. If you would like a list of Central Coast short sale properties, send me an email at tni@MintProp.com. Also, keep in mind that contingent listings from the Central Coast Regional MLS do not show up on Realtor.com, but they are displayed on my website CentralCoastRealEstateSearch.com and www.iLoveSantaMaria.com. If you would like to consult about a possible short sale of your property, I can be reached at (805) 878-9879.
Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, tni@MintProp.com
*Based on the information from the Central Coast Regional MLS. Neither the Association, the Multiple Listing Service, or Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market. Not intended to solicit listings currently under contract with another broker.