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Short sales small percent of Gig Harbor home sales
Short sales small percent of Gig Harbor home sales National media hypes short sales and bank-owned properties as a large part of the market, but in Gig Harbor they represent a smaller portion of Gig Harbor home sales than the casual observer might think. Key Peninsula is not as fortunate but still better than many parts of the country.
22.6% of Gig Harbor home sales in the past six months have been bank-owned or short sales and 41% in Key Peninsula.
This compares to figures as high as 80% of all sales in Las Vegas and 50% in Phoenix and Southern California and parts of Florida. North Las Vegas currently has one in 50 homes in some stage of foreclosure, and in parts of Phoenix it is one in 20 homes, and some areas of southern California it is one in 50 homes. In Washington State one in 834 homeowners is in financial trouble with the bank but in Pierce County it is one in 418 owners, making it the highest rate of foreclosure in the state.
Dissecting short sales and bank-owned numbers--7% of Gig Harbor home sales have been short sales and 15.5% bank-owned.
Key Peninsula's stats are a ... more
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