Over the last few months, short sales have been a hot topic in our sales meetings every week in the Carson Valley. There are many agents in our office who have attempted short sales but haven’t gotten to closing…Some agents avoid them at all costs, and refuse to even list them. So it got me to thinking, how many short sales actually closed last year in the Carson Valley?
In 2008, there were 472 sales in the Carson Valley, Nevada market. Well, according to the Northern Nevada Assocation of Realtors (NNRMLS) only 19 homes of the 472 that sold in 2008 were short sales.
Comparatively, 110 of last year’s 472 home sales were bank-owned properties (REO). That means that 23.3% of last year’s home sales were bank owned, 4% were short sales, and the rest – 72.7% were traditional transactions…you remember those, right? Those are the transactions with a motivated seller and a ready, willing and able buyer.
Data is courtesy of the NNRMLS for area 300, excluding manufactured and shared ownership housing.