For those that are interested in Discovery Bay Short Sales, it is best that you first of all understand what this is (if you are new to this matter). A short sale occurs when a bank agrees to allow you to sell your home and give them the proceeds even though the amount you give them is less than the total debt owed. That is where the term “Short Sale” comes from, because the sale amount comes up short of the amount needed to pay off the bank in full. One has to get the bank to agree to these terms.
While some home owners in this situation seek out potential buyers, others are open to offers when they are approached by interested real estate investors. Potential Discovery Bay Short Sale candidates through the public records by watching foreclosure notifications.
Short Sales in Discovery Bay California are becoming the dominate part of the market. You can find about 20 short sale homes on the market in Discovery Bay California which is almost half of the active market. Only 11 short sale homes closed escrow in Discovery Bay in November and 9 short sale homes closed escrow in December. There are currently 64 pending homes for Discovery Bay Short Sales; meaning that at this rate, it could take about 6 months to close that entire pending assuming they were to all close.
The asking price for short sale homes is lower on an average cost per SF basis ($124.00) than the average SF cost of all the homes on the market ($181.00). This may be due to the fact that it is hard to get an offer on short sale homes as compared to the rest of the market on Discovery Bay Short Sales. The actual sales price on short sale homes is about the same on average based on SF too. In November Discovery Bay Short Sales sold for $129.00 per SF on average while the overall average was $131.00. December short sales sold for $119.00 per SF and the average per SF was $113.00
Due to the small number of Discovery Bay Short Sales and the eclectic nature of the Discovery Bay market there will be wide swings in prices from month to month. These numbers don’t indicate a trend yet.
As a buyer or a seller that is looking into Discovery Bay Short Sales there are two important things that you can do; make sure your realtor has his/her SFR Designation (Short Sale and Foreclosure Resource) and request for booklets on buying and selling a short sale home.
To get started doing a short sale, the first thing a seller is going to need is an offer to buy your home. And lucky for you, we can help you in the selling of your home at the best price in the market! We can get you the offer you need to get the short sale process started. We have what it takes to get you through the right procedures both with the bank and prospective buyers.
Come get the best service from us whether you want to put up your home for a sale or you want to buy a home on Discovery Bay Short Sales