http://www.batonrougerealestatetrends.net/ – 2010 Greater Baton Rouge Short Sales Study Released, Approximately 2 Percent Of All Sales!
Greater Baton Rouge Appraiser, Bill Cobb, has performed a study on the number of “short sales” taking place within the Greater Baton Rouge Housing Market. This was a rather difficult study to complete because of the lack of designation of short sales within the local GBRMLS. In other words, there’s no box for agents to check that specifically states the reason for the sale was “Short Sale”. So, this makes the numbers below somewhat questionable because of the lack of a proper method for classifying short sales within the local MLS. This appraiser has made the suggestion for this to be corrected to GBRMLS.
Agents do sometimes state “Short Sale” in the “Remarks” and or “Realtor Remarks” section of the MLS Sheet. So, this appraiser searched “short sale” within the “Remarks” and or “Realtor Remarks” to discover the results below. NOTE: It’s believed that these numbers below are lower than the actual number of short sales taking place. And, it’s anticipated that with the Big Banks halting foreclosures for an unknown time period (moratorium), short sales will become more popular with the Big Banks, or so I have been reading.
NOTE: Data used with permission of the GBRMLS. Search dates are 1/1/2009 to 10/16/2010. Extraction date was 10/16/2010.
Short Sale Image Source: http://www.manausa.com/short-sale-proces/