Foreclosures and Short Sales Will Be In Play Again Next Year
I recently came across this recent article and I think it supports my belief that Destin Real Estate Market and the Panama City Beach Real Estate Market will both continue to feel the effects of Foreclosures and Short Sales in 2011
Foreclosures Still Driving Down Sales, Prices
Sales of foreclosures were about 25 percent of all U.S. residential sales in the third quarter. The average sale price of a foreclosure was $169,523, or 32 percent below the average price of properties not in foreclosure.
A total of 188,748 properties in some state of foreclosure sold during the third quarter. That was 25 percent fewer than were sold in the second quarter and about 31 percent fewer than were sold in the same quarter of 2009.
Here are the 10 states with the highest percentage of foreclosure sales:
· Nevada, 54 percent
· Arizona 47 percent
· California 40 percent
· Florida 37 percent
· Massachusetts, 35 percent
· Michigan 32 percent
· Georgia, 29 percent
· Oregon, 27 percent
· Idaho 25, percent
· Illinois 25, percent
Source: The Associated Press (12/02/2010)
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Keller Williams Realty’s At The Beach Team sells more real estate here at the beach than almost anyone and we would be happy to help you a find a great deal here at the beach. Simply call or text me at 850-217-7618 – or send an email to JohnMoran@AtTheBeachTeam.com and we will be happy to assist in any way we can.
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