Nevada City Virtual Tour

Saturday, June 16, 2012

Short Sale APPROVALS Break ALL Records

Short Sale APPROVALS Break ALL Records.

A few facts for you:
The number of U.S. homes purchased via short sale hit a three year-high in the first quarter of 2012, up 25 percent from a year earlier.
Short sales made up 12 percent of all residential sales during the quarter, commanding an average price of $175,461, a record low.
The number of bank-owned homes sold slipped 15 percent from the year-earlier period to 123,778 units. Those properties sold for $147,995 on average.

Out of all U.S. homes sold during the first quarter, 26 percent — or 233,299 properties — were in some stage of foreclosure, That’s slightly more than the 25 percent of sales in the same situation a year earlier.

California has the second-highest percentage of foreclosure sales in the country, with 47 percent of home sales falling into the category. Nevada is the highest with 56 percent; Georgia is third with 46 percent.

Compared with the fourth quarter, sales of homes in default, set for auction or owned by banks were up 8 percent nationally but flat from a year ago.

At an average $161,214, such properties sold at a 27 percent discount compared with an average non-foreclosure home.

Gary Tippner is Short Sale and Foreclosure Resource Certified and a Relocation Specialist
Call 1-877-311-GARY
"One Eight Seven Seven Three Eleven... Gary"

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