Las Vegas Short Sales

Michelle Sterling Las Vegas Real Estate Team member Yvette Tavitian and I recently attended an incredibly informative short sale forum. The mastermind panel was comprised of representatives from the banking and real estate industry and they provided a great question and answer forum to over 125 agents, bringing us up-to-date on the latest changes in our Las Vegas short sale market. The bright spot was several agents relaying their experiences of obtaining approval of their short sale transactions in record time. One of the panel members stated that he was able to close a short sale transaction from start to finish in just 17 days! Certainly not the norm, but it does appear that the banks are serious about expediting short sales. Many banks have gone to automated, streamlined systems to facilitate the process for all involved. The rules are changing daily, but many of them do seem to be resulting in shorter approval times. Rest assured that we here at MS Las Vegas Real Estate are attending all the educational forums we can in order to stay current on ever-changing market conditions.


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