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Based on information from the December 2012 REALTORS® Confidence Index Survey, distressed (foreclosed and short sale) property sold at a 16-17 percent discount in December.
The discount to market is affected by the property’s physical condition. The unweighted average price discount for the period January-December 2012 is about 15 percent for houses in above average condition and about 35 percent for those in the poorest condition.
What this means for REALTORS®: Keep emphasizing the value of good home maintenance to build up home equity and maximize price.
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