Bank-Owned, Short Sales Bolster Gains
While Jacksonville home sales have been back on the rise this year, new data suggests that almost 50 percent were bank-owned foreclosure sales or short sales, in which the properties were sold for less than their owners owed on their mortgages. Jacksonville-based Lender Processing Services Inc. released data earlier this month showing the impact of bank-owned sales - commonly referred to as real-estate owned or REO sales - on overall sales in each state. Florida's percentage was 35 percent, in line with Duval County, which was 37 percent.
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida
Cell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.net
www.johnholbrook.blogspot.com
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