While the peak of the distress sale market seems to have passed in 2012, short sales and foreclosures still make up a big percentage of Tallahassee home sales.
During the fourth quarter of 2012, short sales and bank-owned properties made up 42% of all sales in Leon County. Of these distress sales, 65% were single family homes, and 25% were condos and townhomes.
With many home values still below their mortgaged amounts, these sales will continue to remain a feature of the real estate landscape for several years.
Comments