Bernie and I were talking last night about the biggest difference in the local real estate market between last year and this year.  We decided that it was the public awareness of the 'short sale'.  A short sale is when the lender agrees to accept less than the full balance due when the property sells.  To qualify for a short sale you have to have some kind of a hardship.  Job loss, illness, divorce or payment increase on the mortgage itself all qualify as a hardship. Even though getting through the short sale process can be challenging for all parties involved it provides a way to sell the property and avoid foreclosure.  Historically, a short sale will net the lender 20% more than a foreclosure. As a result, this method of avoiding foreclosure is gaining in popularity with most lenders. As your Realtors, it's our job to first qualify the homeowner as a short sale candidate.  Because the whole process can take 4-8 weeks we need to be sure that we all agree to work together to get the job done.  We usually get two or three calls a week from someone considering a short sale. As CDPE's (Certified Distressed Property Expert) we understand what it takes to solve your short sale problem and are ready to get started whenever you are!