RealtyTrack claim that last month Lenders took back the highest number of homes, a total of� 95,364, the highest number since the mortgage crisis hit.
There are also claims that only about 1/3 rd of the repossesed homes are ‘on the market’, banks do not wish to flood the market otherwise the value of these homes would drop.
Locally here in Palm Coast, I always like to look at inventory, we are two thirds thru the year and currently we have 1064 homes on the market and 744 have sold between 1st January 2010 and 1st August 2010, so not so bad!
On the condo side:� 227 on the market in Palm Coast and only 60 have sold between 1st January 2010 and 1st August 2010.
If you need assistance with real estate in Palm Coast, please e-mail me or call me.
Regards
Harry Ashley
Broker Associate