Short sale offers are taking forever to get an answer from the bank. Home buyers are getting frustrated and moving on when they don’t get an answer in 2-3 months. Currently, 292 homes in the Boise area which are short sales are “Pending” (seller has accepted the offer but not the lender) and another 263 homes in the Boise area which are short sales are “Contingent Other” (seller has accepted but not the lender and the listing agent is continuing to market the home).

My suggestion: I wish the lenders would use some of the stimulus money they received to hire additional staff to work through these short sales. We have willing and ready buyers for 455 homes in the Boise area alone but we can’t close them because the lenders are overloaded with short sale requests and are quagmired in paperwork. Hiring additional staff will solve two problems – reduce the inventory of homes on the market and put people needing a job to work. Sounds like a win-win solution to me!

Posted In Blogroll, Real Estate Info

This entry was posted on Monday, June 8th, 2009 at 11:27 am and is filed under Blogroll, Real Estate Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.