Lynne Pope is your Realtor in Hermosa Beach, Manhattan Beach and Redondo Beach

The pricier areas will likely have more short sales show up soon. Keep several things in mind…LENDERS- Investors are bidding up the lower income properties and this may be harder for the lenders who have to get people qualified for the conforming and Jumbo loans.

Redondo Beach may have some affordable properties show up in the short sale arena.

 NEW INFORMATION:

Short Sales have been difficult to close, and these new measures are a huge step in the right direction. One major highlight: A lender must give a yes or no answer to an offer within 10 days. Also included: a moving allowance, incentives for sellers and lenders, commission rules, and a stipulation that releases sellers from debt liabilities.

This is a very HOT topic. Stay tuned to know how this can help you buy or sell a home. As a CDPE specialist- (Certified Distressed Property Expert) expect to keep up on the latest breaking news.