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Foreclosed property in January was reported as selling at a 20 percent discount, while short sale properties sold at a 12 percent average discount according to the January REALTORS® Confidence Index.
- Approximately 24 percent of sales were distressed (foreclosures, short sales), compared to approximately 40 percent in March 2011.
- Property condition has a major impact on sales, with below average foreclosures reported as selling at a 24 percent discount to market, compared to properties in above average condition going for 13 percent below market.
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