Did you know? 

"The percentage of distressed sales in Chicago were above 50% of total sales in the first quarter of 2011"

     http://blog.lucidrealty.com/chicago_real_estate_statistics/

"Short Sales sold for an average discount of 9% in Q1 2011, down from an average discount of 13% in the last quarter of 2010 and an average discount of 14% in Q1 of 2010"

    www.realtytrac.com

Sometimes when the borrower is unable to keep up his mortgage payments, the lender and the borrower might decide to offer a short sale on the property instead of entering into a foreclosure. In a short sale, the lender is willing to accept an amount less than what is owed to them in order to avoid the hassles associated with foreclosure filings and in part to protect the borrower's credit rating.

PahRoo provides accurate and realistic appraisals in short sale transactions as well. We understand that a short sale can be an unpleasant situation to deal with but we work together with the clients and offer a couple of comparative market value prices to both the parties involved.

Get the latest trends and news for short sales here:

www.dsnews.com

www.housingwire.com

http://www.realtor.org/research/research/srs_rvpr

http://www.ehomemortgages.com/foreclosure-and-refinance-trends/

6 things to know before you buy that short sale house: http://homebuying.about.com/od/shortsale/a/22608_SSHouse.htm