Dropping foreclosures

The local media for Manatee and Sarasota counties recently reported a 50 percent drop in foreclosure filings in the area in December.

Apparently the lending institutions are starting to latch on to the idea of allowing short sales, selling your home for less than you owe the lender/lenders, than actually going through the lengthy and costly process of foreclosure.

If this trend continues it will be great for real estate in our area.

Some of the benefits are fewer abandoned homes that quickly fall in to disrepair while awaiting foreclosure.

More homeowners able to work out debt foregiveness rather than having a foreclosure hanging over their heads for possibly 20 years.

The potential for speeding up the process to get us out of the housing downturn.

The quicker we get the short sales and foreclosures off the market the sooner prices will start to rise again.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com