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10 States Where Distressed Homes will be Flooding the Market for Years - Maryland comes in at #10

By
Real Estate Agent with RE/MAX Components - Fallston Maryland 616437

10 States Where Distressed Homes Will Be Flooding The Market For Years

According to the latest real estate market report from CoreLogic.  10 States are faced with a backlog of distressed homes. While home prices are rising in some places and stabilizing in others. There’s plenty of supply of distressed homes in Maryland. If you are looking for a Foreclosure, Short Sale or a Bank Owned Home in Maryland, Baltimore or Harford County. Contact Robert B. McArtor with Long and Foster Real Estate, Inc. today! Unfortunately, with the supply of distressed homes out there, it will certainly keep prices depressed in the marketplace for years to come.

 

#1 - Mississippi with a supply of Distressed Homes of 70.6 Months

#2 - New Jersey with a supply of Distressed Homes of 46.1 Months

#3 - Illinois with a supply of Distressed Homes of 36.2 Months

#4 - Maine with a supply of Distressed Homes of 35.7 Months

#5 - Washington D.C. with a supply of Distressed Homes of 32.4 Months

#6 - Georgia with a supply of Distressed Homes of 31.2 Months

#7 - New York with a supply of Distressed Homes of 30.3 Months

#8 - Indiana with a supply of Distressed Homes of 29 Months

#9 - Minnesota with a supply of Distressed Homes of 27.2 Months

#10 - Maryland with a supply of Distressed Homes of 25.5 Months

Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

I was surprised how far up the list Illinois is.  In Naperville Illinois we have very few which is a lot different than many cities in Illinois.


Thanks for posting.

Nov 20, 2011 01:07 PM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

I'm surprised that Missouri is not on the list.  I'm seeing more foreclosures here.

Nov 20, 2011 01:10 PM
Rick Frissell
HomeXpress Realty - Valrico, FL
aka "The Red Baron of Real Estate"

It appears there are a lot of surprises for everybody.  What happened to Florida, Nevada and California.  From Florida, it seems we only show short sales or REO.  And the supply of distressed sales is expected to increase.  But, we are a state where investors enjoy buying and over 40% of sales are cash buyers by investors.  Our inventory is shrinking ... along with the prices, strangely enough.

Nov 20, 2011 01:26 PM
Ken Brandon
Coldwell Banker Sea Coast Advantage (Jacksonville, NC) - Jacksonville, NC
Camp Lejeune, Jacksonville, NC

I am curious if these numbers are from current inventory based on the rate of sales or do they include shadow inventory as well? Either way...the months of supply do not paint a pleasant picture for those areas.

Nov 20, 2011 01:46 PM
David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City

As a Chicago Metro agent, I see a few years of depressed prices. There has been price appreciation over the past few years, but this is above depressed prices.

Nov 20, 2011 02:06 PM
Gary Nelson
RE\MAX Components - Abingdon, MD
REALTOR , CRS, CDPE, e-Pro, GRI

I too am suprised the Florida is not on this list, being that my Dad lives there and I have some knowledge of what is happening there.  Very suprising list.

Gary Nelson, Associate Broker, CDPE, GRI

Dec 15, 2011 02:09 AM