Current Conditions: Las Vegas Short Sale Market

The new Equator administrative platform, initially conceived to standardize and streamline the short sale process, actually appears to be working. The nationwide system has just passed the 200,000 mark for short sale transactions uploaded in just over seven months time. This is highly encouraging news for the Las Vegas short sale segment of our market, which is expected to grow substantially over the next few years, if not longer. Equator is also developing a new version of their system designed specifically to interface with the recently introduced Fannie and Freddie HAFA programs taking effect later this summer. The frustration level with the short sale process (for both buyers and sellers) actually has a real chance of subsiding in future, as completion times shrink from six months to ten weeks in many cases.

Comments are closed.