“Fast” is a term or art here. The fastest doing short sales was GMAC averaging 6 months after a home became 60 days delinquent. Citigroup (7.5 months) and Wells Fargo (8 months) were second and third fastest in completing short sales of prime mortgages.
For Arizona home sellers, starting the clock when 60 days delinquent doesn’t make too much sense. An Arizona home seller is more interested in how much time it will take them once they submit their paperwork to the bank but, unfortunately, I don’t have those numbers.