Simi
Valley Short Sale, Moorpark
Short Sale Ventura
County Short Sale, The median sales price of distressed homes — those that are in foreclosure or bank-owned — reached $128,625, the highest since December 2009, according to RealtyTrac's November Residential & Foreclosure Sales Report.
Dealing With Distress
Distressed-home prices are rising at a faster pace, increasing 18 percent from a year ago. Prices of non-distressed homes are up 14 percent during the same time period, RealtyTrac reports.
"As the price of distressed properties reaches a new high, the pool of investor activity that has been fueling the housing recovery may dry up," says Daren Blomquist, vice president at RealtyTrac. "However, 20 states still saw annual decreases in distressed property prices, so we will continue to see a fragmented recovery as investors move from once-hot markets such as Phoenix, Atlanta, and many California markets and into markets such as Charlotte, N.C., Columbus, Ohio, Dallas, and Oklahoma City."
The following metro areas reported the highest percentage of distressed and short sales combined in November:
- Las Vegas: 36.3%
- Stockton, Calif.: 27.6%
- Miami: 26.9%
- Jacksonville, Fla.: 25.1%
- Modesto, Calif.: 25.1%
Meanwhile, short sales reached pre-recession levels nationwide, accounting for 3.4 percent of all residential property sales in November, RealtyTrac reports. Short sales were below the pre-recession average of 4.5 percent a month. Still, short sales remained elevated in five states: Rhode Island, West Virginia, Vermont, New Jersey, and Illinois.
Source: “RealtyTrac’s November 2014 Residential and Foreclosure Sales Report,” RealtyTrac (Dec. 31, 2014)http://www.VCNeighborhoodValues.com
Many Ventura
County Homes Appreciated by
over 16%
Last Year. If you’re thinking of
selling, yours may have now have enough equity to sell without being “Short”.
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value for your home and get back on your feet.
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