Los Angeles Short Sale Update

In 2008, most of the short sales in Los Angeles, in the area I live in, wern't closing. With this being said, in 2009, the majority of LA short sales are closing. however, the maiden time it takes to close was 4 months and sometimes even more. It can easilt take four or five months to a lender to approve a short sale.

Los Angeles Short Sales have never been so easy. Nevertheless, there are still many experienced Real estate brokers approaching the lender or the owner prior to marketing the property – and the lender/owner approves the short sale beforehand. It says the one who's buying would have to wait for a short period until the process is approved.

But is the real estate market still going down? If yes, waiting 4 months for the process to be approved will hurt the buyer eventually. Maybe it's better to wait a little longer to and get a better price.


Even Long Beach Short Sales market prices have gone down – and that's why buying with today’s rates is indeed a good strategy for buyers. But yet, buyers wouldn't like to wait for five months to be approved and only then realize whether they are going to buy the estate? What if interest prices go up?