Distressed Property Sales Hit New Low

Sarsaota Foreclosure Sales Drop Nearly 60%

Manatee County Foreclosure Sales Drop 54%

The National Association of Realtors (NAR) just released their Existing Home Sales Report revealing that distressed property sales accounted for 6% of sales in October. This is down from 9% in 2014 and the lowest figure since NAR began tracking distressed sales in October 2008.

Below is a graph that shows just how far the market has come since January 2012 when distressed sales accounted for 35% of all sales.

With interest rates still at all time lows and inventory levels remaining low. Foreclosures and Bank Owned Homes have been getting snatched up at a record pace. You will see this quite a bit in a sellers market. New investors and people trying to make a quick buck hop out of the woodwork to bid up these bank owned homes.

If you have the right agent there are still deals to be found. If you are an experienced investor or looking to buy a foreclosure for your family home, you want to make sure your real estate agent has experience dealing with Bank Owned/REO properties. We have over 10 years experience dealing with banks and asset management companies. So please message us if you have any questions regarding the process, or you would like help locating your next investment property. 

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