Why We Don’t Have a Short Sale Search Feature
The WSJ had a feature on short sales recently, Why Lenders Are Leery Of Short Sales.
We have been asked several times why we don’t have a short sale search feature. Aside from the fact that we don’t want to encourage short sale offers because of their very low success rate:
Redfin, an online real-estate brokerage based in Seattle, says it represented buyers on 65 short-sale offers in the first quarter but expects only two or three to result in a completed sale.
Many times short sales aren’t identified as such in the MLS making it very hard for us to search for them.