Short answer is: Yes! A look at the market statistics found for home sales in Folsom this March 2011 does show that REOs or foreclosures were the best deal as far as price. These numbers come from Trendgraphix Inc. through our local multiple listing service, MetroList.
March 2011 | Regular Sale | REO | Short Sale | All |
No. homes sold | 36 | 17 | 20 | 73 |
Median Price | $350K | $278K | $305K | $327K |
REO stands for Real Estate Owned—the term banks use to designate foreclosed properties.
As you can see, at a median sales price of $278,000, bank-owned properties were a good deal pricewise, and home buyers in Folsom did put a premium on homes that were not distressed sales—at a median price of $350,000 . Such sales represented just over 50% of homes sold in Folsom in March. all4now
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