SAN DIEGO, CA -- (Marketwire) -- 07/24/12 -- The San Diego short sales team at Americorp Financial & Realty Services, a company that provides a full suite of real estate services to clients who need help with short sales or who are looking to sell or purchase a home, hereby alerts the public that according to recently released statistics, the number of short sales being completed in the United States is currently at a three-year high in terms of volume.
Specifically, these statistics were reported by RealtyTrac, a company that provides statistical reports regarding different aspects of the real estate market. According to the recently released report, a total of 233,299 residential properties were purchased in the United States during the first quarter of 2012, which represents 26 percent of all residential sales during that timeframe. This represents a jump from a total of 22 percent of total sales during the fourth quarter of 2011 and a jump from 25 percent of total sales during the first quarter of 2011.
The percentage of pre-foreclosure sales during the first quarter of 2012 was at its highest quarterly level since the first quarter of 2009. Pre-foreclosure sales represent sales of properties that are distressed because the current resident is not current with the mortgage payments but the lender has not yet initiated foreclosure proceedings.
A short sale is a transaction whereby a lender agrees to forgive the unpaid portion of a home loan if the current occupant sells the home at a reduced cost. These transactions allow both the borrowers and the lenders to avoid the foreclosure process, and the climb in the percentage of short sales suggests that more homeowners are looking to this option to sell their homes.
The San Diego short sale experts at Americorp Financial & Realty Services advise anyone who may be behind with their mortgage payments to look into the possibility of a short sale with the help of a professional, and the team further advises potential home buyers to look into these San Diego short sale listings for purchasing opportunities.
About Americorp Financial & Realty Services
Americorp Financial & Reality Services is a team of San Diego short sale specialists who help troubled homeowners resolve their ongoing mortgage problems. The team also helps their clients purchase homes and handle the complicated VA loans process. Americorp Financial & Realty Services provides its expertise to customers around San Diego County and the rest of Southern California.
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