By the numbers–short sales and REO’s

In the last 3 months in Jackson County

384 total sold residential properties
125 sold REO properties
35 sold Short Sale properties
Median price of REO/short sale properties is 20% lower than non-duress properties

Total 42% of the sold market is REO/Short sale
In the last 3 months in Ashland

39 total sold residential properties
4 sold REO properties
2 sold Short Sale properties

Total 15% of the [...]

Affect of Short Sales and REO’s on the market

There is no denying that one of the major influences on the current real estate market in Jackson County is the competition between houses being sold under normal circumstances…and those that are being sold under duress.
REO’s (not to be confused with ROUS’s) are the easiest of these properties to gauge value of. Because these properties [...]