Industry NewsNews Brief

Don’t miss your real estate niche

Plenty of time to tap into REO, short-sale market
Published on Aug 30, 2010

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by CareyBot

During the first quarter of this year, 46 percent of the homes sold in San Diego County were distressed properties, making involvement with REO (bank-owned) and short-sale properties an obvious choice for an agent looking to succeed.

"If you're not working in the distressed part of the marketplace, you're perhaps missing a once-in-a-lifetime opportunity," said Rick Sharga, senior vice president of foreclosure data company RealtyTrac, explaining that in San Diego County REO sales and short sales each accounted for 23 percent of all first-quarter sales -- with average discounts of 24 percent to 30 percent per distressed property.

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