Nevada City Virtual Tour

Thursday, September 1, 2011

REO and Short Sale properties selling at an even larger discount

The share of bank-owned homes and homes in some stage of foreclosure like short sales dropped 5 percent from the first quarter to the second quarter, falling from 36 percent to 31 percent, but was up from 24 percent in second-quarter 2010, according to a report released today by foreclosure data provider RealtyTrac.
And these distressed properties are selling at a larger discount these days. So better prices for buyers but regular sellers need to take this into account when pricing your home for sale. This is your competition. If you want your home sold, you have got to price it at least close to the average market. If you need help comparing actual sold home prices (homes you see listed at a certain price mean nothing... they might have been sitting on the market for many many months) please contact me for help in find market pricing for a home to get sold in this market.

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