According to the “Distressed Home Sellers Report” released by First American CoreLogic, distressed home sales are on the rise again, accounting for an incredible 29% of all home sales – and the number is growing.
Of all home sales in 2009, nearly 1 Million were classified as distressed, which includes bank owned (REO) sales and homes sold via a short sale.
Real estate professionals should keep their eyes on the distressed property numbers, has been a very important part of the market for a while now, and over the next few years we expect the numbers to increase.
What are you doing to set up your business to help these distressed sellers?