Orlando foreclosed home sales down in 4Q, 2011

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By Anjali Fluker

Metro Orlando had fewer foreclosed homes sell in the fourth quarter and full-year 2011, said a new report by RealtyTrac Inc.

The Orlando metropolitan statistical area — Lake, Orange, Osceola and Seminole counties — posted 3,091 bank-owned home sales in fourth-quarter 2011, which accounted for about 24 percent of all home sales. That also represented a nearly 20 percent drop from the 3,859 bank-owned sold in the year-earlier period, but a small uptick from the 3,040 posted in the third quarter of 2011.

The fourth-quarter 2011 average foreclosed home sales price of $109,403 also represented a nearly 19 percent discount when compared with non-distressed property sales, the report said.
Meanwhile, the Orlando MSA’s 2011 total of 15,286 foreclosed home sales was nearly 27 percent of all home sales and foreclosed homes sold for an average of $107,734, which was a nearly 18 percent discount when compared with traditional home sales. The total foreclosed home sales also was a 21 percent decline from the 19,373 foreclosed home sales in 2010, and a 2.5 percent drop from the 15,685 sales in 2009.

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