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Still very common in NJ. About 25% of our inventory are short sales right now.
Very rare here.
Good morning Jacquelene. I do mortgages on many properties that are purchased by my clients, had two closing yesterday. Unfortunately they are still a challenge to do.
I've never done a short sale or foreclosure. We went through the rough times in DC with a foreclosure moratorium in place.
for years it was the norm out here in AZ, now with the market going up so quickly they are rare.
Used to be a bunch and now zero.
About 10% now. There was a time that it was 30-40% of my business.
It use to be an everyday occurence, but now distressed sales make up about 10% of what I do.
Florida's distressed properties have receded although we're still double the National average so I expect to continue seeing their presence for a while. I'm not in the habit of helping lenders which don't attempt to help themselves. I don't have the time for them.
These days, short sales and reo's are the exception not the norm.
In my area is is a rarity. Only about 5% - 10% of listings are in those categories.
Only deal with these if I am buying.
I have sold hundreds of foreclosures but have referred short sale transactions to associates with more patience.