WHAT DOES IT MEAN WHEN OVER 30 % OF SALES IN ONE ZIP CODE INVOLVE A BANK SALE?

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Real Estate Agent with Keller Williams Capital Partners Realty 277320

2 zip codes that I have worked heavily in the past seem very depressed. When I check the deed transfers, I am find abut 1 in 3 sales involving a bank either being the buyer via foreclosure / deed in lieu OR the bank selling to a buyer.

 

Makes the whole retail market in those areas difficult to market.

 

Is there a name for such a market situation?

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Rainer
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Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI

Joe:  Yes, the name for this is "Detroit".

Apr 16, 2009 09:50 AM #1
Rainmaker
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Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

HA!

 

I forgot about that great city!

Apr 16, 2009 10:23 AM #2
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Joe Jackson

Clintonville and Central Ohio Real Estate Expert
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