Costa Mesa Short Sales Sold in 2012

 So far there have been 42 Costa Mesa short sales that have closed successfully in 2012 to date according to the SoCal Multiple Listing Service (MLS). The average days on the market for these sales was 157 days (or about 5 months). Short sales are not taking as long as they once did. Our real estate agents are involved in the negotiation process and stay current on the latest developments in order to best benefit our sellers. Lenders have also come up with more streamlined plans of action. Since short sales are more common now and make up about 40% of the Costa Mesa real estate market, most buyers are comfortable with considering them. All of these factors are helping to speed up the short sale process. Have you heard about the Mortgage Debt Relief Act? A lot of sellers who are considering a short sale need to know about this act, which ends on December 31, 2012. This act allows you to exclude and NOT PAY TAXES on debt forgiven by a lender during a short sale or foreclosure. This means that you WILL PAY TAXES on any short sale or foreclosure not completed before the end of 2012. As a result, many sellers are trying to complete their current short sales by the end of this year. Please feel free to contact us to learn more about the short sale process. Feel free to call us anytime at 714-540-7355 or email shortsale@torellirealty.com. 

Just Some Short Sales Sold by Torelli Realty in 2012:

 2984 Jacaranda, Costa Mesa2229 Wallace, Costa Mesa2741 Cardinal, Costa Mesa139 Morristown, Costa Mesa