Do you think that the loan modifications will help the foreclosure crisis?

Sunday, December 6, 2009

"movers and shakers"

Supposivedly, buying homes at foreclosure and putting them back on the market for cheaper is moving the market in the right direction. However, it may not be helping homeowners who are trying to sell their homes.Although home sales rose by more than 17 percent, the median single-family sales price dropped by almost three percent:

Boston foreclosed homes pulled down the median price in October for single-family houses and condo units sold, compared to the median in October last year, according to home sales data from Warren Group and another real estate research firm.
In the July-September quarter, the Boston metro area posted nearly 8,000 foreclosure filings, marking a nearly 10-percent jump from filings in the previous quarter and an almost 20-percent rise from filings during the same period in 2008.
Single-family home sales soared in October in Massachusetts by more than 17 percent to 4,295 units, the highest sales total for October in four years. But foreclosure sales pulled down the price of single-family houses by nearly three percent.
By Cassiano Travareli

http://www.nowpublic.com/world/boston-foreclosed-homes-pulled-down-median-price

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