Short Sales Affect Every Price Range

Bobby Burnett: Short Sales All Over Map - Bobby Burnett, principal of Keller Williams Realty – DTC, applauds new government rules designed to speed and streamline the short-sale process, in which lenders accept less than the mortgage amount in a sale. Burnett, who estimates he has completed about 400 short sales, sees short sales all across the map. “Literally, we have them from below $100,000 to well over $1 million,” Burnett said. "They are all across the board and it is affecting every inch of the market. It is affecting every economic situation, every neighborhood. It is accounting for a huge percentage of our marketplace, and it is only going to get bigger.” One thing is clear to Burnett: “People need help."
http://insiderealestatenews.com/2009/12/bobby-burnett-short-sales-all-over-map/