James Island Real Estate News: Are Short Sales Always a Great Deal?
By Jay Tracey, Real Estate Service Far Beyond an Internet Search
(Exit Realty The Tracey Group)
James Island Real Estate News: Are Short Sales Always a Great Deal? Reading classifieds, driving by homes, checking the internet, home shoppers have seen the term "short sale." If you have been looking for James Island Real Estate, you will find a large inventory of short sales available to you right now. Short Sales can be great deals, but in some cases can be a flop. What is a short sale? "A Short Sale is a transaction in which any Lien Holder releases its lien against the Property and accepts an amount less than the full amount." Each transaction is different. Yet two things are clear: The short sale is rarely short and it's no guarantee of a sale. The National Association of Realtors found that 45% of all home sales nationwide in the 4th quarter of 2008 were foreclosures or short sa...
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