Outer Banks Foreclosure Information for November 2009Posted by Mike Bishal on
Distress sales are made up of foreclosures and short sales. For the month of November of the Outer Banks we saw, distress sales make up 27% of the total sales. 17 foreclosed homes were sold in the month of November, along with 10 short sales for a total of 27 transactions. This was down from distress homes being 34% of the total sales in the month of October.
In the market as a whole we saw, 100 residential homes in the Outer Banks sold. The sold homes data for November was an increase of 5 and 3 units from September and October of this year. Another strong sign is, we saw an additional 42 homes sold this November, when compared to November a year ago. Such a large increase bodes well for the strengthening of the Outer Banks real estate market as…
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