Short Sale Specialist for the Coachella Valley: Kimberley Kelly, Certified Short Sale Specialist for the desert cities, has put together the Short Sale statistics for the past 6 months. The peak of our last phase of bank defaults, and consequent “settled for less than amount owed.”, began in 2009, and screamed through 2011. At that time, the Lenders were as clueless as their mortgagors. Now. however, it is a much more efficient system for the lien holders, and with a Certified, and even more importantly, EXPERIENCED, Short Sale Realtor, if you find yourself upside down, or even near upside down on your property payments, do not panic! Pick up the phone, and call for your free property value, and consequent option possibilities, at 760-285-3578.
Short Sales are not nearly as prevalent as they were, which is a good thing!! It was not uncommon to be listing, negotiating, then CLOSING dozens of Short Sales/month in 2009, 2010, 2011. With our local real estate recovery in place for years now, and Lenders not approving every single person for any type of loan, our Coachella Valley Short Sale numbers have reduced drastically.
Here are the Short Sale numbers for the past 6 months.
La Quinta: 31 Homes Total Currently in Short Sale status, 14 properties ACTIVE, 7 IN ESCROW, 10 SOLD.
Palm Desert: 29 Homes Total, 11 properties ACTIVE, 8 IN ESCROW
Palm Springs: 30 Homes Total, 7 ACTIVE, 12 IN ESCROW, 11 SOLD
Rancho Mirage: 11 Total, 4 ACTIVE, 3 IN ESCROW, and 4 SOLD
Indio: 31 Total Short Sales, 8 ACTIVE, 9 IN ESCROW, 14 SOLD
Indian Wells: 8 Total. 4 ACTIVE, 1 IN ESCROW, and 4 SOLD
You can see that the Coachella Valley desert cities, Short Sale gross numbers are very low, and pretty consistent by City size. There are several things to remember if you are even considering a Short Sale of your property.
- Maintain your property! Keep the yard, Pool, HOA dues current. Keep your home in the same condition as you would if you were to keep it permanently.
- Contact an Experienced, LOCAL, Short Sale Specialist: Your Agent will meet you, ask you for Lender information, mortgage stubs, and help you understand the Short Sale process, as well as the paperwork, and financial documentation that will be required by your particular Lender.
- Be sure to LISTEN to your Agent, and develop a timeline.
- Always be quick to supply your Agent with any documents she may request..even if you’ve already done it once!
- You will NOT pay anything to have your short sale completed.
You will have a better credit rating than a person that chooses to let their home go to Foreclosure, and you will qualify for a Loan after approx. 24 months. IF you keep all your other debt obligations current and in good standing. Kimberley Kelly, is a Certified and experienced Short Sale Specialist who is easy to deal with. 760-285-3578.