Distress Sales in Ox Bottom Still Remain

Northeast Tallahassee and Ox Bottom experienced low levels of short sales and foreclosures during the housing crisis. Yet distress sales still remain part of the real estate landscape well into 2013. Distress sales in Ox Bottom averaged just over 1 home per quarter during 2010-2012. In 2013, there were 2 sales in the first quarter and 3 in the second. There are no distress sales in the current third quarter, and there will probably not be any in the fourth quarter. However, there are still homes that are behind on their mortgage and potentially could become distress sales in the future. National research indicates that distress sales will continue to decline through 2014 as home prices appreciate and fewer borrowers remain underwatwer on their mortgage. Tallahassee will follow this trend. If you would like more information on how much your home has gone up in value this year, please contact us through our web forms on this page, or call 850.455.2476.