The Top Cities to Search for Short Sales

The Cities on this list, released by RealtyTrac, are in States where the average short sale closes within 1 year from the time that a bank launches foreclosure proceedings. The Cities on the list had the highest increase in short sales from Q4 2012. Most of the top cities on the list are in California because the banks in California approved a large number of short sales during the 4th quarter of 2012.

1. Santa Barbara, CA – Percent Increase in short sales from 2012: 107%
2. Visalia, CA - Percent Increase in short sales from 2012: 106%
3. Fresno, CA - Percent Increase in short sales from 2012: 97%
4. Grand Rapids, MI - Percent Increase in short sales from 2012: 81%
5. Vallejo, CA - Percent Increase in short sales from 2012: 77%

If you are in the California or Michigan markets, pay close attention to these Cities if you are a short sale buyer. Although California is now a feeding frenzy of buyers, you may still find a diamond in the rough.