Over One-Half of the Home Sales in 2010 in Pinetop, Lakeside and Show Low Have Been Foreclosed Homes or Short Sales
There have been 42 homes sold in Pinetop, Lakeside, and Show Low so far in 2010. 21 of these sales were REO (foreclosed or bank owned) properties and 4 of them were short sales. The high percentage of distressed sales is driving property values down, which is good for buyers but bad for sellers. The number of foreclosures and short sales is expected to increase throughout the year.
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