Short Sale Approval and Valuation Issues Continue to Impact Housing Market
Both Fannie Mae and Freddie Mac have implemented policies to expedite the short sales process, including new resources to help determine property values, according to panelists at a property valuation forum during the Realtors Midyear Legislative Meetings & Trade Expo here.
Short sales continue to represent a significant portion of the real estate market. According to the National Association of Realtors, short sales accounted for 9 percent of transactions during the first quarter of 2013.