Gainesville – Distressed Sales Still Depress Home Prices
Gainesville – Distressed Sales Still Depress Home Prices – According to CoreLogic’s December 2011 Home Price Index, prices of homes nationwide went down almost 5 percent from 2010 to 2011. The culprit, according to CoreLogic, is likely to be the high prevalence of distressed sales. Prices dropped only by 0.9 percent if you eliminate distressed sales in the picture.
Downward pressure on home prices is expected to continue until distressed sales go down, according also to CoreLogic. Prevalence of foreclosures,such as Gainesville foreclosures, continues to restrain home prices from going up.
The states highly affected by this decline since the peak of the housing boom are Arizona, Florida, Nevada, California, and Michigan. High occurrence of foreclosures have been recorded in these states as well, according to a study presented by AOL Real Estate in February this year.
It is reported that in 2012 and 2013, millions more homes are expected to be added to the 2 million homes bugged down by foreclosure in 2011.
Filings of foreclosure – Gainesville Foreclosure– significantly declined in 2011 and it has been believed by experts that this event was due to the government’s initiative to repress banks from foreclosure abuses which include “robo-signing” – bank employees sign foreclosure documents without careful review.
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Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents