Knowing how big of a role distressed sales play within a particular market is essential, this helps appraisers and Realtors make the proper market based decisions when choosing comparable sales. The analysis for this report shows what the concentration of distressed sales (bank REO's and short sales) are within the cities of Anoka County as well as the townships.
Summary of the Concentration of Distressed Sales:
There were a couple of things that stood out for me; first, is that the number of distressed sales is fairly high, especially by historical standards. Second, the level of short sales was less than I had expected. There has been a lot of talk about how many short sales are out there, but for the most part they make only a fraction of the total number of distressed sales.