The sale of distressed properties (i.e., short sales and foreclosures) continue to dominate the US housing market.
According to RealtyTrac, foreclosed properties made up 26% of overall sales in 1Q:12, which is up from 25% of all sales a year ago.
Homes in forclosure have sales prices that are typically 27% below the average price of homes not in foreclosure.
Short sales accounted for 12% of homes sold in the first quarter of 2012, according to RealtyTrac; this was up 25% over the previous year.
RealtyTrac is reporting banks typically get 20% more in price when compared with the price they would get for a similar home that is in foreclosure. This is one reason short sales are more preferable when compared with a lender taking over a home through foreclosure.
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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