There are currently 7 homes to choose from in the Forest Creek neighborhood, ranging in price from $549,000 to $699,000. Of those listings, 3 are short sales, and 4 are traditional offerings. One home has closed so far this year.
While the short sales may look like pretty good values, there is no guarantee that the lender will approve the sale, and there is no limit to the time that it will take them to accept or reject it. Short sales take a lot of patience on the buyer’s part, plus the ability to be flexible about a close date. The listing agent also has to spend countless hours waiting on hold on the phone, trying to get through to the decision maker. Often the “decision maker” moves to a different department and the process has to start all over again! The best buyer for a short sale is one who is currently renting on a month-to-month basis and has a lot of flexibility.
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