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Loan Modification
: Mortgage Lender Implode-o-MeterForeclosures Boost Sales, Drag Prices
By Implode-Explode Heavy Industries
So-called ?distressed? sales including foreclosures and short sales accounted for nearly half of all transactions tracked in Q109 by the National Association of Realtors (NAR).
The heavy ratio of distressed sales, which traditionally fetch about 20% less than non-foreclosures, pulled down median home prices in most markets. Of the 152 metropolitan statistical areas (MSAs) tracked by NAR, 134 ? or nearly 87% ? reported lower median existing single-family home prices.
Full post as published by Mortgage Lender Implode-o-Meter on May 13, 2009 (boomark / email).
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