These are two great questions.

1. Short sales represent roughly 22% of all active MLS listings. I would say very few homes currently on the MLS (that are less than $550k, and that are currently not a short sale) will become one, because nearly all of the rest of them are already bank owned. This question really pertains to higher-end homes. And while the answer to this good question can only be guessed at… the very asking of the question means we’re starting to look in the right place for answers to this whole mess.

2. In most market segments that I cover, around 15% of short sales end up closing.

Meantime, here’s another good question:

"What is the percentage of potential short sales in the real estate market in general (i.e. not yet on the MLS)?"

Roughly 25% of all US mortgage holders are "upside down" and experts agree this number will only grow going forward... and since last year when we have had a record number of foreclosures… the number of new mortgage defaults has only increased, and since the segment of MLS inventory affected by this is actually down (not up)… could not 1 out of every 4 US houses (with mortgages on them) be potential short sale candidates?

To give you an Estimate of Sandicor Short Sale Listings that are Subject to Court/Lender Approval:

Currently Active - 1,727
Contingent (Seller accepted offer on short sale) - 3,968
Pending - 2,719

Short Sales SOLD in Past Year - 6,916 Listings
Currently ACT, CONTINGENT, PEND Short Sales - 8,414 Listings