The name short sale can be misleading. One would think it means the sale will be, well, short. In fact the truth is some short sales can take months, if not longer, to close. Knowing what you are getting into prior to placing a short sale offer can have many advantages. Not only will it help you understand the process, but it also helps you submit your strongest offer possible to help win that home.

“Modern homebuyers will inevitably come across one or more properties currently classified as a short sale. A short sale is an attempt by the current owner to sell a home in lieu of the bank taking it back through foreclosure proceedings, thus partially salvaging their credit rating and lifting the burden of heavy mortgage debt. The entire short sale process hinges on the hope that the bank will take a loss now, approve the sale, and eliminate the costly process of foreclosing, clearing, and reselling a home. Obviously, this is a big hope on behalf of prospective homebuyers as well and they need to understand some things in order to lessen the chance for disappointment of unapproved short sales.”

Read the entire article here… http://realtytimes.com/consumeradvice/buyersadvice1/item/3716-20090408-buyingtip

Pierce County Statistics:

Homes for Sale in Spanaway: 207 units.  Down 8.4% compared to the last month.

Homes for Sale in Tacoma: 942 units.  Down 6.4% compared to the last month.

Homes for Sale in Lakewood: 135 units.  Down 15.1% compared to the last month.

Homes for Sale in Fife: 21 units.  Down 19.2% compared to the last month.

Homes for Sale in Milton: 21 units.  Up 16.7% compared to the last month.

Homes for Sale in Edgewood: 47 units.  Up 6.8% compared to the last month.

Homes for Sale in University Place: 101 units.  Up 6.3% compared to the last month.

Homes for Sale in Fircrest: 23 units.  Up 4.5% compared to the last month.

Homes for Sale in Dupont: 29 units.  Down 19.4% compared to the last month.

Homes for Sale in Puyallup: 445 units.  Down 8.1% compared to the last month.