According to data company RealtyTrac foreclosure short sales, distressed properties prior to disclosure of a growing willingness to clear the loan, reflecting the years second quarter jumped significantly.
Short sales and other pre-foreclosure sales of more than 102,000 units, in the second quarter of 2011 was 19 percent. Banks increasingly lower than the sales prices of the properties considered in the process of a foreclosure increase came in the first quarter, compared with 17 percent and 21 percent discount on the average markdown sales of traditional home, the average pre-foreclosure sale price reflected a year ago, an average of 14 per cent discount.
Troubled about all the features necessary to make the comparison, the average discount, both before and after foreclosure, there was a 32 per cent below nondistressed properties. Pre-foreclosure sales bank repossession properties before the foreclosure process has been the hands of the post-foreclosure sale.
Lenders more open to short-selling
Pre-foreclosure sale, great discounts and a market all point to a more aggressive short-selling through the inventory clearing a short average time to sell pre-foreclosures jump, at least in some areas, James Saccacio, CEO of RealtyTrac said.
Do not qualify for this loan modification or refinancing troubled home gives the owner or interest in these options and those who want to sell, a short sale to avoid foreclosure is a better chance of completing, said Saccacio. Aerodynamics foreclosure short sales are also a long, costly and messy process increasingly more pre-emptively liquidate their portfolios to non-performing loans and prevent the opportunity for the credit.
General distress sales down
In general, distressed properties, pre-sales and post-foreclosure 36 percent in the first quarter, second quarter accounted for 31 percent of all home sales. Short sales and other pre-foreclosures in the first quarter of the same, 12 percent of all sales held steady but the absolute figures, the spring buying season with an overall increase in overall home sales rose.
Hostage related sales, in the second quarter, the highest level of any of the state of Nevada is about two thirds of all third-party home sales. California, Arizona and Michigan, followed by 41 per cent higher next, respectively, were 57 percent and 51 percent.