There is nothing short about short sales! We made an offer back in April/May and we closed mid-October. What a process!
My husband and I are now busy working on the house. The yard is huge and has a lot of bushes and trees that need trimming. It also needs new paint both inside and outside. We also want to rip off the carpet and replace it with laminate floors, and maybe do something about the popcorn ceiling. We will need to put insulation, sheet rock, and shelves in the garage.
We got the house for a good price, about $30k less than comparable houses in the area. We'll probably put in 15k more in repairs/paint/etc.
The plan is to move my business here and hold on to it until we can sell it and make a net profit of 100k. That's the plan anyway. I'm hoping it would only take 2-3 years.
You might think I'm overly optimistic given the current state of the economy but I really think it will happen. We live in a nice, quiet town and everybody seem to want to live here. There is very little inventory of houses for sale in our area. When a house goes up for sale, it generates multiple offers very quickly.
In my head, it's the classic supply-and-demand relationship. The demand for houses in our area is greater than the available houses for sale (supply). Therefore, the price of houses will only go up.