BrokerageIndustry News

Shedding light on short sales

ZipRealty also launches pending sales map

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Online brokerage ZipRealty has launched a microsite that explains short sales from the perspective of either a homeowner or a homebuyer, the brokerage company announced this week. "While nearly 13 percent of home listings across our markets nationwide are currently short-sale properties, many clients are confused about how these sales differ from standard sales, and we want to help eliminate this confusion through education," said Patrick Lashinsky, ZipRealty's president and CEO, in a statement. The brokerage anticipates government programs such as Home Affordability Modification Program (HAMP) and Home Affordable Foreclosure Alternatives (HAFA) program will trigger a jump in short sales. Homeowners visiting the microsite will see information about the HAMP and HAFA programs as well as the steps required to qualify for a short sale, some credit and tax consequences of short sales, and the role of a real estate agent during the process. The site includes a how-to video ...