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Distressed Sales in Polo

While looking over the current active listings, I noticed the following:

35 Active Listings

7 of them are short sales

3 of them are foreclosures

The short sales and foreclosures are categorized together as “distressed” properties.  If you look at the price range, it is extremely wide, especially for one community, ranging from the low $200,000’s to almost $1 Million.  Nearly a third of homes for sale being distressed properties is fairly normal for the higher-end subdivisions in the area.  When these numbers get back to traditional levels, we will see prices begin to level out and then possibly even rise seasonally according to demand.  Until then, we’ll keep bouncing along the bottom with a slight trend downward.