The Truth About Distressed Properties

Alameda, CA, September 18, 2009 --(PR.com)-- The global economic recession has challenged real estate markets, shaving away years of appreciation while rising unemployment, lost investments and falling or frozen salaries have made it hard for some to hold onto their depreciating properties -- and even harder to sell them.

The chilling effect has closed an emergency exit that was available for distressed homeowners and investors during the boom years -- the quick and profitable sale -- forcing many into foreclosure or to sell at a loss.

Distressed properties have mushroomed in many real estate markets, taking a toll on overall home values and accounting for the lion's share of activity in particularly hard-hit markets.

Inman News, an award-winning national real estate news source, examines this still-unfolding dilemma in "A Changed Market: Short Sales and REOs: An In-Depth Look at Distressed-Property Trends," a 41-page report.

This case study features details and analyses of an Inman News survey of more than 500 real estate professionals, conducted in May 2009.

Among the survey findings and revelations:

• A comparison of failure rates, response times for offers, and average days on market for short sales, REO sales and the overall market, and an exploration of the most common reasons for the failure of pending short-sale and REO transactions.

• A comparison of the selling price of REOs and short sales to the selling price of nondistressed properties

• An examination of the volume of short-sale and REO listings and sales in May 2009 and April 2009, as well as year-over-year comparisons with 2008 and expectations for the full year in 2009 and in 2010.

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Please contact Jeff Bernheisel, marketing coordinator at Inman News, at jeff@inman.com for more information about the case study and survey results.