About one-half of all the homes sole in Pinetop, Lakeside and Show Low over the last six months were either bank owned or short sales. The large percentage of foreclosures has caused a large drop in property values. When a bank forecloses on a home they
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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,
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