Market Update: New short sale guidelines may help housing market

You probably heard that the Federal Housing Finance Agency (FHFA) recently issued new guidelines on response times for short sales.

Why is this significant?

According to Rick Davidson, CEO of Century 21, the new guidelines “are designed to assist inventory-constrained markets…by moving properties through the short sale process more efficiently.”

Short sales typically take several months to settle often with no guarantee during that time that the buyer’s offer will even be accepted.  This can make short sale properties a less attractive option for buyers and leave the owner of a distressed property in limbo for months.

The new rules will hopefully make short sales a more viable option for both sellers and buyers – and in doing so, help bolster a continuing  housing recovery!


Leave a comment

Filed under Housing Market

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s