As an appraiser I am seeing more foreclosures which are ready to hit the market. This will continue to but downward pressure of home values. The home owner vacancy rate hit a record in the 4th quarter of 2008 at 2.8%. And there was a 9% rise in vacant homes that are being held off the market. According to realty trac 70% of the bank-owned homes were not listed for sale on the multiple listing service.
Don't forget to visit our appraisal site at: http://www.coralspringsappraisers.net
Comments(1)