Short Sale Sellers: Changed Deficiency Judgement Laws in Utah!

April of 2012 brought a major change for all short sales in St. George Utah and the entire state of Utah. This change brings Utah short sales sellers into a new comfort zone.  Realtor’s in the state of Utah fought and won in our state legislature a huge victory for not only St. George Short Sale Seller’s but all Utah Short Sale Sellers.

As of end of April the unsecured liens or second liens have 60 days to come after the short sale seller for a deficiency judgement! Prior to that it was SIX YEARS!!! This is HUGE for my sellers. Six years is a long time to be exposed to deficiency judgements. This is why one of my key points when my team and I process a short sale we fight for the deficiency judgement waiver.

This is a major relief for all St. George short sale sellers as well as all short sale sellers in the state of Utah. Then the Southern Utah real estate climate has seen some important changes as of late. We have more qualified buyers that we have good deals on real estate. This has always been a challenge in St. George real estate….nothing new here. Our inventory of cheap homes is slowly vanishing. The end of 2011 is when we started to feel the growing pains.

I am going to go out on a limb and say the market is well into the rebound. It will be slow and southern Utah real estate is not going to blow prices out of proportion but we have shrinking inventory and lots of people wanting to experience what we all love about Utah’s dixie!

Don’t forget to visit my Southern Utah Short Sale page for some great information.

Please remember to contact me for all your southern Utah Real Estate needs and remember I have a spent years building a network of real estate professionals all over the world and would be happy to help you locate a great real estate agent anywhere in the world! Give me a call today or simply contact me through this link!

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