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The Department of the Treasury is just days away from announcing their new plans for short sales. Obama’s Housing Rescue Plan has focused primarily on loan modifications and with less than 12% of eligible borrowers recieving loan mods thus far, the current plan has been a dismal failure. These disappointing results have forced Washington into looking at short sales as a better way to curb the still declining nationwide real estate values.
If you are trying to do a short sale in the current Aspen Real Estate Market the rules of the game are different than what virtually everyone who has been in this market understands. The Aspen Real Estate Market has been spoiled by rapid steady and sometimes incredible valuation increases. Therefore with very few exceptions realtors in this area have little experience with negotiating a short sale in Aspen or the Roaring Fork Valley.
