Sacramento Real Estate Views

Rocklin Short Sale Statistics

Days On Market Decrease Since HAFA

The problem with short sales has been that they take so long to get done.  The average days on market for a home in short sale status has been over 200 days in Rocklin since we started seeing them a couple of years ago.

HAFA is changing all of that.  Banks are now processing short sales faster as they have learned that short sales save them money.

Additionally, if you must sell and you’re underwater on your mortgage, as roughly 70% are in the Sacramento region, selling short a better option over foreclosure as it’s less damaging to your credit scores and financial situation.

You could call it a “win-win” scenario considering the overall housing conditions currently.

As the graph shows, short sales are now averaging about 154 days on the  market vs. 205 days on the market in the 4th quarter of 2009.  This is a significant decrease in the amount of time it’s taking to get a short sale through the system.

Have short sale questions?  Please feel free to fill out the form below or call us for more information.

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Information for graph provided by Metrolist Services, Inc.

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This entry was posted on Tuesday, June 8th, 2010 at 7:55 am and is filed under Short Sale Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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