Short sales are becoming a more common occurrence in the housing market including Reno.  A June 30 report released by the Office of Thrift Supervision and the Office of the Comptroller of Currency stated that short sales increased by 208.5 percent for the 1st quarter of 2009, compared to the 1st quarter of 2008.  In June the National Association of REALTORS(r) statistics indicated that about 50% of all recent real estate transactions have been a Short Sale (15 to 20 percent) or foreclosure (REO) (30 to 35 percent).

A short sale may enable the current homeowner to help protect their credit and avoid foreclosure by selling their property for less than the amount of money owed on the mortgage.

Please don't hesitate to contract us if you have any questions regarding Short Sales or Bank Owned Properties (REO).