Foreclosures and Short Sales Will Be In Play Again Next Year
I recently came across this recent article and I think it supports my belief that Destin Real Estate Market and the Panama City Beach Real Estate Market will both continue to feel the effects of Foreclosures and Short Sales in 2011
Foreclosures Still Driving Down Sales, Prices
Sales of foreclosures were about 25 percent of all U.S. residential sales in the third quarter. The average sale price of a foreclosure was $169,523, or 32 percent below the average price of properties not in foreclosure.
A total of 188,748 properties in some state of foreclosure sold during the third quarter. That was 25 percent fewer than were sold in the second quarter and about 31 percent fewer than were sold in the same quarter of 2009.
Here are the 10 states with the highest percentage of foreclosure sales:
· Nevada, 54 percent
· Arizona 47 percent
· California 40 percent
· Florida 37 percent
· Massachusetts, 35 percent
· Michigan 32 percent
· Georgia, 29 percent
· Oregon, 27 percent
· Idaho 25, percent
· Illinois 25, percent
Source: The Associated Press (12/02/2010)
Keller Williams Realty’s At The Beach Team sells more real estate here at the beach than almost anyone and we would be happy to help you a find a great deal here at the beach. Simply call or text me at 850-217-7618 – or send an email to JohnMoran@AtTheBeachTeam.com and we will be happy to assist in any way we can.
Real Estate News
Keller Williams Realty’s At The Beach Team has a series of Real Estate News Blogs keep you up to date on the area your are interested in. Simply click on your favorite blog and find more information about it’s real estate market including all Foreclosures and Short Sales and much more.
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Thinking of Selling or Want to Know the Value of your Property?
I know that it’s a tough market for sellers right now and I certainly would not advise you sell unless you had to or if you could use your money better somewhere else. If you are curious about the value of your property simply call or text me at 850-217-7618 – or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to do an analysis on where the value is for your property right now and what it will take to get it sold quickly for the best price possible. Then if it makes sense to sell we can move forward or if it makes more sense to wait we will simply monitor the market until the time is right.
Either way my team and I sell more real estate here at the beach than almost anyone and we would be happy to help you when the time is right.
Your Real Estate Resource At The Beach
We want to be your real estate resource at the beach so if there is anything we can do for you just call or text me at 850-217-7618 – or send an email to JohnMoran@AtTheBeachTeam.com and we will be happy to assist in any way we can.