Congratulations to our happy sellers in Valley Terrace who closed on their short sale condo today. Happy New Year to you and all the short sellers out there struggling to make it happen. There are success stories, folks!

Here’s a good article on the foreclosure numbers recently released. They’ve slowed, but it’s artificial — the banks are just holding off on foreclosing because they’re in terrible hot water. Homeowners aren’t any more current on their mortgages, values aren’t any higher, and there’s no more market activity. No, we’re not recovering, just not sinking at the moment. We are bound to see the foreclosures rise again, and if the banks have their acts together, the numbers will be even higher as they try to catch up with the ones they aren’t currently pursuing.

In the meantime, we are seeing the banks becoming far more cooperative on short sales. If they aren’t going to foreclose, then they need to work with us to complete short sales instead!