Friday, May 22, 2009

Pinellas short sales nearing market price

Based on April home sales, we might be observing a price stabilization trend, particularly in Pinellas county. From February to April, prices of homes sold conventionally — those unencumbered by foreclosure or mortgage defaults — stopped dropping. Prices have actually inched up in some places in those three months. In April, Pinellas short sale homes sold for 89 percent the price of conventional homes.

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