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Highlands County 40% of sales are distress sales!

By
Real Estate Agent with Advantage Realty #1

Often times it is very hard for sellers to talk to us about their financial troubles and inability to make their mortgage payment. In a society were a nice home is among the top status symbols, it seems out of the question to admit that one can't afford their status symbol anymore.

We did a search on all home sales in our local MLS since January 1st, 2009. We only searched for Single Family Homes. We came up with 541 sales. 224 of these sales were distress sales, meaning they were either foreclosures, short sale, REO, pre-foreclosure or pre-auction. That's  41% of all sales!!! We suspect the number to be even higher because sometimes an agent forgets to check the "distress sale" field in the MLS.

Within the same period in 2008, we had a total of 430 sales (same search criteria). How many of them were distress sales? 6 or .01% of all sales. Distress sales have increase by over 39%. Overall sales have increased by 21%, which is great news!!!

So, if you are a homeowner in distress, if you are behind in your payments and feel you have no other option than letting your home go into foreclosure - YOU ARE NOT ALONE!  About 40% of the homeowners that have their home on the market are in the same boat with you!

For more information on Short Sales and if you are a good canditate for one, visit our blog, give us a call or drop us a line!

Andrea: 863-202-0729
Darrin: 863-202-5017
www.millsrealestate.net

This post was originally posted on www.millsrealestate.net/blog

 

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