Short Sales in Whitney Oaks Rocklin – Agent Allan Sanchez

Short Sales in Whitney Oaks Rocklin – Agent Allan Sanchez

As 2011 winds down, I want to give you the Whitney Oaks short sale statistics for this year. Whitney Oaks has seen a new low in real estate values in the last year, down 5.6% from this time last year.  Short sales have become a popular way to sell homes in Whitney Oaks, even beating out REO/Bank owned homes.  There were 58 short sales sold in Whitney Oaks in 2011 compared to just 18 REOs.

Average 2011 Price of a Whitney Oaks Short Sale: $383,884

Average 2011 Days on the Market of a Whitney Oaks Short Sale: 115 Days on the market.

Average 2011 Size of a Whitney Oaks Short Sale: 2,840 square feet.

Rocklin short sales have increased in popularity this year as more banks streamline their short sale process to better assist homeowners who can no longer afford their home due to hardships, adjustable mortgages, and the economy. When I first began selling Rocklin short sales, many homeowners confided in me that they were so far underwater on their mortgage that they didn’t think their lender would ever approve a short sale.  In the last few years, we in the real estate industry have seen that that’s not the case. Lenders approve short sales no matter how far under value the homeowner is.  The banks put much more emphasis on the financial hardships suffered when deciding to approve a short sale.

Short sales are not like traditional equity sales because the lender is very involved. Only experienced Whitney Oaks short sale agents are prepared to meet the banks expectations.  Banks will not approve a short sale without a complete short sale offer package.  Further, I find that following up with the bank several times a week is the best way to achieve short sale success.  Follow-up is the biggest key factor I can point to when I get short sale approvals.  No follow up….NO APPROVAL!

It will be interesting to see what 2012 brings to the Rocklin real estate market. More and more people believe that home values are just about at the bottom.  Still, we’ll need to see jobs increase and banks to release all of their properties before we’ll truly know we are at the bottom and can start to recover.

Find out if you qualify to sell your Whitney Oaks home as a short sale.

Short Sales in Whitney Oaks Rocklin – Agent Allan Sanchez

Posted by Rocklin Short Sale Agent – Allan Sanchez – www.AllansHomes.com