Recent sales will determine the future listing price of other homes in the area - as well as offers made on currently listed property. Short Sale properties are often sold at deep discounts - so having this data can help balance the value picture when comparing it to other homes.
According to MRED LLC data - 1184 Short Sales of single family attached & detached homes have occured since implementing this new tag on March 27th. While this number is not exact - it can offer a quick snapshot of one aspect of the market. REALTORS must add this tag when closing out a property in the MLS. Properties included would be those that are "Short Sale/Foreclosure/Court-Lender Approval Required,etc.". If the REALTOR doesn't add the short sale tag - the sale is not included in the data.
Here's a look at the numbers by county:
Short Sales/Foreclosures Since 3/27/08*
*includes Single family attached &detached sales
as marked (S) voluntarily in the MLS by REALTORS
|County||# of Homes Sold|
# of Sales Marked Short Sale/Foreclosure
|% of Sales|
|Boone County||66||5||7.57 %|