A shortage of short sales

Along with the reduction in foreclosure sales that we have reported on last October (http://wesellnebraska.com/?p=2851) there are now reports indicating a dramatic downturn in the number of short sales. Three factors are likely impacting these statistics; 1) a general upturn in the real estate market means that potentially fewer sellers are underwater, i.e. owe more than their house will sell for, 2) in general buyer interest in distressed sales has waned according to a survey by the National Association of REALTORS and 3) the tax protection for short sale sellers provided by the Mortgage Forgiveness Debt Relief Act of 2007 expired, at least temporarily, at the end of 2013.  Any reduction is distressed sales, foreclosure or short sales, means a healthier market which in turn means further reductions in distressed sales, a cycle that all homeowners should be happy to see.  Remember whether buying or selling, moving up or downsizing, Lincoln or Omaha, the Vaccaros; Paul & Susan, stand ready to assist you, your family, friends and co-workers.  Call or email us today!  Lincoln (402)817-0355 , Omaha (402)577-0820, info@WeSellNebraska.com  (Paul & Susan Vaccaro – CBSHome Real Estate 15950 W Dodge Road, Suite 200, Omaha, NE 68118 – Woods Bros Realty 3737 S 27th Street, Lincoln, NE  68502.

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