The Concentration of Distressed Sales Within Sherburne County

The Concentration of Distressed Sales Within Sherburne County

I'm often asked how big of a role does distressed sales play within the market. For every appraisal I do an analysis that shows the level of concentration of distressed within the neighborhood I'm working in. The analysis' for this article shows the concentration of distressed sales (bank REO's and short sales) within the cities of Sherburne County as well as the townships.

There was a couple of things that stood out for me; one is that the level of distressed sales is fairly high, especially by historical standards, and second was the level of short sales was less than I had thought. There has been a lot of talk about how many short sales are out there, but for the most part they make of for less than half of the distressed sales.

Most of my appraisal work indicates that inventory levels have been declining significantly over the past few months, which will hopefully alleviate the pressure on prices as well as bring down the level of distressed sales.  What are your thoughts, is this similar to what you were thinking?

If you have any questions, or Minnesota real estate appraisal needs (divorce, bankruptcy, tax appeal, or estate planning) please contact Michael at 612.599-2581, or use the form on the contact page.