Monday, November 13, 2006

Distressed Properties

I've decided to start a monthly column on the distressed property situation. My definition of a distressed property is one that falls into any of these categories: short sale, bank-owned, foreclosure, or foreclosure pending. Fortunately, our nifty MLS system has fields for all of those types of properties. Unfortunately, not all agents are savvy enough to fill them out. At any rate, I ran a search for the 4 county area and came up with the following:

# of distressed properties - 1,016
# of MLS listings - 15,330

Keep in mind, my search was strictly limited to "Residential" listings only.

1 in every 15 houses listed for sale falls into the distressed property category.

1 comment :

Anonymous said...

Max, this is all good stuff. The internet and the willingness of people like you are providing a great resource for all the bloggers. I know you are establishing a subscription basis for your Flippers in Trouble blog, because you are investing a lot of time and seeing no economic return. I suggest you provide the bloggers with a voluntary option to donate to this site. You may be surprised how many people step up. I will for one. And that is how Ben Jones does his Housing Bubble Blog, so it does work for him. Good luck.