Anyone who follows our blog at bprowse.com will know that we have been advocating short sales as a definite advantage for all parties compared to the toll that foreclosure takes on the homeowner, the bank, and the neighborhood.

Now short sales are starting to attract some national press, such as this article in Calculated Risk, "Short Sales Soar." The article describes how short sales are soaring in Las Vegas (the posterchild of distressed homes markets), while foreclosure activity has slacked off. The consensus is that foreclosure activity will pick up again once lenders have done all that can for homeowners currently in the trial loan modification period, but it's heartening that the banks are starting to pick up the scent on short sales.