short sale, short sale processingSome Realtors are posting in blogs on the Internet that discourage people from buying short sale homes because of the long short sale processing times. I decided to check out the reality of this claim, and it does appear to have some validity. The banks are getting multiple offers on short sale homes, and it takes them a while to go through them. They are also understaffed to handle the high volume of the short sale homes they  have, and don’t want to hire more staff because of bottom line issues. Since they’re already taking a beating on the mortgage loan, they don’t want to add to their overhead to get those assets off their books.

But this should not discourage buyers from buying short sale homes. If you want to buy a short sale for investment or just to live in as a primary home, get into the market now, and within months, you could be living in a great house with terrific appreciation potential down the road, since you bought it for less than retail.