Brokers curb short-sale stigma in listingsJuly 25, 2013 @ 6:50 am
A short-sale "hassle" stigma in markets with high foreclosure rates is prompting brokers to state that the non-distressed home they're selling is "not a short sale."
According to a new study from Florida International University, homes listed as "not short sales" sold for 2 to 5 percent more than non-distressed homes that did not state that fact in the listing.
Homes listed as "not a short sale" also sold faster, selling about 10 to 15 percent faster than other similar properties, according to the study's author Ken H. Johnson, associate professor.
"In some areas, buyers are probably starting to believe that short sales mean a big hassle because they've heard horror stories about waiting months for one or more banks to sign off on the deal," Johnson said.
Have a Seat
Crystal Mountain says it'll auction off chairs destroyed in a massive avalanche
New radar data shows a Malaysian Airlines Boeing 777 changed course before disappearing
Seattle's most famous gardener gives you the green light
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.