The Orlando region is leading the nation in terms of distressed home sales, making this region of Florida a prime spot for investors and short sale specialists who are seeking to assist individuals who are seeking to sell their distressed property. In today’s article from Kristine Zelazo, The Short Sale Gal, we’ll look at the nation’s current figures concerning distressed properties.
In a recent report from CoreLogic, the short sales and REOs (real estate owned sales) accounted for just over 10% of home sales nationwide in December of 2015. That marks a decrease of nearly 3% compared to December 2014 and a 1.5% decrease from the prior month.
Overall, these figures are fairly positive, especially when you compare the figures to the peak that occurred in January 2009, when REO sales reached 27.9% nationwide.
What’s more, just eight states saw an increase in distressed home sales in December 2015. The states with the highest distressed home sale figures were as follows:
- Maryland – 20.2%
- Connecticut – 19.2%
- Florida – 18.5%
- Michigan – 18.2%
- Illinois – 17.6%
Conversely, North Dakota came in with the best figure, with distressed home sales at a mere 2.7% of all real estate transactions.
When broken down into regions, the area of Orlando, Kissimmee and Sanford, Florida came in with the largest share of distressed property sales according to an evaluation of Core Based Statistical Areas (CBSAs) nationwide. Distressed home sales in the Orlando area were at 20.4%.
Also on the list was the Tampa, St. Petersburg and Clearwater area, which came in third with 20.2%.
SHORT SALES WITH KRISTINE ZELAZO, THE SHORT SALE GAL
If you choose to pursue a short sale or sell your home to a cash investor, you may wish to contact Kristine Zelazo, better known as The Short Sale Gal.
Based in Florida, Kristine works with both buyers and sellers and she is an experienced negotiator. So if you’re an investor seeking to get started in buying short sales and need a great mentor or wish to pursue a short sale transaction for the sale of your property, turn to Kristine Zelazo, the Short Sale Gal!
To get started with selling your home, simply complete the home pre-sale form to provide Kristine with additional information on the property in question. Then, call 786.570.0360.
Source: The World Property Journal