Distressed Sales Down

According to a recent post by CoreLogic, distressed property sales (REO and short sales) have continued to drop throughout the United States since 2009, with occasional seasonal spikes. It should be noted that Florida is holding steady in the #3 spot for distressed sales, at 23.6 percent. It’s also interesting that many of Florida’s regions make up the statistical areas by population with the highest number of distressed property sales (including Miami, Orlando, and Tampa).

distressedsalesWhat does this mean for those of us in the business of turning over REO properties on a regular basis? Housing trends may be unpredictable to a certain extent, but as CoreLogic points out, there will always be distressed properties, even when healthy home sales are increasing.

Of course, from our perspective, one of the best things you can do to make sure those assets are moving is to make them look as attractive as possible to potential buyers. Keep that in mind when you’re going over your REO repairs bids!

Posted in REO

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Thank you Erin as well for the detailed updates as we have moved along. Sometimes on our end we feel like we are in a black box and always have to ask for updates from the contractors (and don’t always get it), so your proactive approach is greatly appreciated. Please keep up the good work.
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