Foreclosed Properties and How They Can Affect You!

      From a REALTORS viewpoint, I see many properties that are in a short sale transaction where banks are delaying closings by months because banks don’t have the personnel to approve of the short sales and foreclosures.  If the banks would have a more efficient way of dealing with the short sales, these properties could be sold and improve the whole real estate market.  Instead buyers wait for answers from the banks only to find out that shortly before a closing, the properties have gone into foreclosures. Banks need to hire more people to deal with the influx of short sales so that properties can be sold and so that properties do not go into foreclosure.   Foreclosed properties bring down the prices of other properties in the neighborhood along with crime rates and safety issues spiking.