Here’s my Rio Rancho Foreclosure report for December of 2010.
Rio Rancho Foreclosures made up 28% of December Sales
This graph illustrates the breakdown of December sales by type including regular sales, foreclosure sales and short sales.
As you can see, distressed home sales, including bank owned homes (foreclosures), HUD sales and Short Sales, made up a good portion of all Rio Rancho closed sales in December. In fact, distressed home sales accounted for 42% of the closed sales in December.
Rio Rancho Foreclosure Homes Have the Best Prices in Town
Foreclosure homes in Rio Rancho sold for a lower price than regular sales and short sales. Regular sales averaged $97 per square foot, short sale homes averaged $82 per square foot and foreclosure homes averaged $79 per square foot.
Rio Rancho Foreclosure Homes Sell for Close to List Price
I understand the today’s buyers want to get great deals, but the truth is that lowball offers to not work. That’s because Rio Rancho home prices have already come way down and foreclosure homes are already priced below fair market value. All three types of houses sold for very close to the list price: