If you need assistance, please call 317-590-2901

Big Foreclosure Discounts Are Fading Away

Wednesday, February 20, 2013   /   by Carlos J Higareda

Big Foreclosure Discounts Are Fading Away




 


During the mortgage crisis, foreclosed homes were selling, on average, for a 25 percent discount compared to original market values. In the fourth quarter of 2012, the average foreclosure discount dropped to 12.2 percent, according to the latest data from FNC’s Foreclosure Market report.


The median sales price of foreclosures is $93,000; the median price of non-distressed home is $183,000, FNC reports.


"The fact that we are seeing a combination of rising home prices and a bottoming out of foreclosure prices is a very good sign the housing recovery is taking hold," says  Yangling Mayer, FNC senior research economist. "This is the very first time in the long housing recession that the two are happening at the same time."


Source: “Foreclosure discounts no longer as steep,” HousingWire (Feb. 18, 2013)


Read More


States Battling the Highest Foreclosure Rates



eXp Realty
Carlos Higareda
719 Virginia Ave, Suite 101
Indianapolis, IN 46203
317-590-2901
317-881-3700

The source of the Licensed Listings is BLC® listing service. The Licensed Listings are confidential information of BLC® listing service. The BLC® listing information is provided by the Metropolitan Indianapolis Board of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2020 Metropolitan Indianapolis Board of REALTORS® All Rights Reserved. The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
This site powered by CINC: www.cincpro.com