Short Sale to Auction?

One of the longest running short sales, 324 Graham Court, appears to be heading to the auction block. This home started under $400,000, had several offers, price was raised to $410,000.  More offers. Even went pending. Right now it is showing as withdrawn. The Notice of Trustee Sale has a date listed to go to auction on 6/30/09.  It could still be delayed.

While this home was on the market for 380 days, believe it or not it does not hold the Prairie Oaks short sale record. That would go to 977 Palmer Circle that was on the market for 390 days.

Buyers need to keep this in mind when going after and waiting around for a short sale to be completed. Sometimes it is like fitting a square peg in a round hole.  It just isn’t going to go through!