“Although down from the peak percentage in the first quarter of 2009, the portion of total sales represented by foreclosed properties remained high throughout 2009.
Fourth quarter 2009 foreclosures were also a lesser portion (27.4%) of total sales compared to 4Q 2008 (32.2%)
The percentage is slightly higher than in the third quarter of 2009.
Foreclosures were 35.6% of fourth quarter 2009 sales in the <$200,000 price range. Since the percentage one year ago in this price range was 44.5%, the pressure is obvious on sellers who are not in distress.
Short sales place even more pressure on those sellers who “don’t have to sell…”
In 2010, the expectation of foreclosure and short sale properties arriving on the market in “possibly record numbers” is a financial phenomenon that savvy sellers can not ignore.”
You can find the rest of the article here, at Examiner.com…