Jumat, 01 April 2011

27% of Virginia Home Sales Are "Distressed"

A "distressed" home sale is a foreclosure or "short sale," where the bank agrees to take less than what is owed on the mortgage.  Typically, distressed sales have "discounted" pricing, +/-17% shortsales, +/- 28% foreclosures.

There is no reliable published monthly data on how many homes listed in the Charlottesville Area MLS are "distressed,"  and no transparent public monthly (nor quarterly)

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