Distressed Property Statistics

By
Real Estate Sales Representative with Coldwell Banker Graham & Assoc.

I just returned from the Coldwell Banker GenBlue Convention in New Orleans. I attended several great courses including the CRS 112: Guiding the Buyer in the Distressed Property Market. This course offered good statistics and facts regarding the distressed property market:

100% of all Real Estate Owned (REO's) will be sold

50% of all owner occupied homes will be sold

Average market price across the U.S. is $200,000.

The Treasury Department predicts that this market will continue for another 10 years.

Currently their are 6 million homes in default or underwater.

30% of sales in 2011 were distressed properties. That is 1 in 3.

Beurau of Census states that 1 in 10 houses are empty.

25% of buyers in the market today are investors.

 

These statistics can look bleak to some, but to others they represent a great opportunity.

If you are a buyer, foreclosures represent a great buying opportunity.

If you are a real estate agent, listing and selling foreclosures is a great business opportunity.

Comments (3)

Kim Sellers
Lake Arrowhead, CA Coldwell Banker - Lake Arrowhead, CA
Lake Arrowhead Realtor - BRE#01412099 - Lake Arrow

It is what the market is for sure... but as in Real Estate, it is all localized.

Mar 04, 2012 03:21 AM
Anonymous
BoKnowsMortgages.com

Nick..good points, but I am willing to bet in our local little market that we are about 50% of sales or more are distressed property...not that 1 in 3 homes are distressed, just what sales in MLS are distressed propertys and that is what our small market wants...A DEAL, not Fair Market Value and unfortunatley it is going to continue for years.

Mar 04, 2012 08:55 AM
#2
Anonymous
BoKnowsMortgages.com

Nick..good points, but I am willing to bet in our local little market that we are about 50% of sales or more are distressed property...not that 1 in 3 homes are distressed, just what sales in MLS are distressed propertys and that is what our small market wants...A DEAL, not Fair Market Value and unfortunatley it is going to continue for years.

Mar 04, 2012 08:55 AM
#3