More than one-quarter of all U.S.
Distressed homes sold for an average price of $161,214 in the first quarter, 27 percent less than what homes that were not in foreclosure sold for, according to RealtyTrac.
Pre-foreclosure sales including short sales - where the homeowner is selling a house for less than the amount owed - also hit a three-year high in the first quarter as lenders were more willing to approve such deals, said RealtyTrac chief executive Brandon Moore.
Home sale data released recently suggest the housing market is improving. The S&P/Case-Shiller Home Price Index, for example, showed average home prices in Charlotte increased 0.4 percent in March compared to a year earlier.
Foreclosure sales were the highest proportionately in Nevada, California and Georgia, accounting for 56 percent, 47 percent and 46 percent of sales, respectively.
In North Carolina, foreclosures accounted for 12 percent of sales and in South Carolina foreclosures made up 16 percent of home sales in the first quarter.
Home sale data released recently suggest the housing market is improving. The S&P/Case-Shiller Home Price Index, for example, showed average home prices in Charlotte increased 0.4 percent in March compared to a year earlier.
Foreclosure sales were the highest proportionately in Nevada, California and Georgia, accounting for 56 percent, 47 percent and 46 percent of sales, respectively.
In North Carolina, foreclosures accounted for 12 percent of sales and in South Carolina foreclosures made up 16 percent of home sales in the first quarter.
Posts
4 comments:
Has anyone studied what happening in HOA Communities? With all the publicity about HOA abuse, we are hearing Buyers say "Not in an HOA Community .. not me!" We are working with the Legislature to bring change to HOA Laws. Join the Coalition and let's make our HOA Communities into "Neighborhoods" once again and treat each other as Neighbors ... and not as part of a "local government" with the power to take our Homes and to dictate our Lifestyles. See www.usahoalaws.org
considering the millions of bank owned properties they are slowly releasing to prevent price collapse, and the fact that the job market is not that healthy, and that prices are down well off the peak this all makes sense.
Regarding the post about HOA authority...if you lived next to a boarded up dilapidated home, you would change your tune very quickly. The HOAs protect YOUR home value. Residents have no other recourse to deal with such problems. The City of Charlotte is unwilling to deal with foreclosed homes because they cannot bill the banks for demolition. So your HOA is the only group who can legally do something like foreclose. This forces the banks/owners to come in and deal with problems they are currently ignoring.
Our short sale agent's are the world's best worker cause they don't think about their own benefit also think about buyer's choice and try to full-fill their demand. Our short sale agent's are the legal and polite adviser and always trying to help client's and not think for business all time. Friends one good news for everyone that we are now 24/7 in online with americandestinyrealty.com.
Post a Comment