- Short sales increased 19 percent in the second quarter of 2011 and account for 12 percent of all sales nationwide.
- Distressed property sales, including foreclosure sales and short sales, accounted for 31 percent of all U.S. residential sales in the second quarter, down from nearly 36 percent in the first quarter but up from 24 percent from the same quarter last year.
- The average sales price for a distressed property was down less than one percent from the first quarter and down nearly five percent from the same quarter in 2010.
- Distressed properties typically sold for 32 percent below the average price of a home not sold in foreclosure.
- The average price for a home sold in a short sale was 21 percent below the average price of a non-foreclosed home, while the average price for a home sold in foreclosure was nearly 40 percent lower than a non-foreclosed home.
If you would like to learn more and/or receive assistance with foreclosure, Mortgage Audit, loan modification, bankruptcy or debt settlement, please contact us at (781) 315-4566.
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