Listed below is data from the Tri-Lakes MLS for Foreclosures and Short Sales for second quarter 2010. While distressed property is a factor in this market, it is not as prevalent as it is in some of the harder hit areas such as NV, AZ, and FL.
This report shows 29% ( nearly a third ) of all residential sales were short sales or foreclosures and 35 % of condo sales were distressed property. In current active listings 7 % of residential property is listed as a short sale or foreclosure and 8 % of condos are the same. Lakefront and Lakeview property seemed to fair much better with the Shorts and Foreclosures being a much more insignificant number. So at the end of the day, it doesn't make up a great deal of our total available inventory.
It is my experience with clients that the lions share of prospects are looking for this type of property, and the real bargains are snapped up in a hurry. So if you have your eye on something, I would urge you to act quick. Our office has been making effective use of prospect alerts to notify us and our clients the minute a new property pops up in the MLS, so we can make a quick decision. If you would like to get on our prospect list....just email me at rick.billington@gmail.com , let me know what you're looking for, and we'll be glad to set you up for notifications.
Below is a link to my website that lists all Branson area Short Sales and Foreclosures in the Tri-Lakes MLS. If you need to get more specific...let me know.
Branson area Short Sales and Foreclosures
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