Just a year ago, a large portion of sales were distressed. Many bank owned properties and a good volume of short sales were typical inventory with an “equity sale” every now and then. A sale where someone actually had equity was given its own name - it was not a common situation. Today, there are still short sales and the occasional bank-owned sale, but equity sales have become normal again. There are properties listed as short sales that get offers of $155,000 over asking price, and sell as an equity sale instead, which recently happened with an offer I wrote.

Short sales and bank-owned sales will be around for many more years but as long as they are not the dominate percentage of the sales, they will have less of an impact on value.

Contact me to get a find out what will be on the market soon!