Looking at the I-15 corridor for the past 90 days. I-15 corridor is defined as 92126,92127, 92128, 92129, 92131 and 92064. These are the communities of Mira Mesa, Scripps Ranch, Poway, Rancho Penasquitos, Sabre Springs, Carmel Mountain Ranch, Rancho Bernardo, West Bernardo and 4S Ranch. In the past 7 days 99 properties were listed, 78 properties went into escrow and 48 closed escrow at an average price of $506,000. These numbers include both attached and detached homes.

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Eric Edelman
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Eric Edelman, Century 21 Award, Carmel Mountain Ranch Homes For Sale, 92128 Homes For Sale, San Diego Homes For Sale

New federal guidelines for short sales went into effect on 4/5/2010. These guidelines are voluntary. Lenders will follow or not follow them at their own discretion. If you want to find out if you qualify for a HAFA short sale, I can help!

Responding to a lot of mis-handling of short sale offers, I’ve been running into lately. Many listing agents either don’t know how to handle short sales or they are being unethical about the way they handle multiple offers. Multiple offers on short sales are supposed to be handled the same way you’d handle multiple offers on a regular listing. All offers are presented to the seller and the seller accepts ONE offer within a reasonable amount of time. All other offers are held in backup position only.. Many agent are playing games by keeping all offers in play until the short sale is approved or just not responding at all.

Short sales are can have complicated legal and tax implications. Always work with a Realtor who has a team of dedicated tax and legal professionals to answer your questions. Eric Edelman – Realtor and Randy Brown – Attorney, offer no obligation consultations to help determine your options.