Posted on November 5, 2013 - 03:36 PM
by John Barnett
Real Estate Short sales outnumbered foreclosures in states with some of the largest shares of homes facing foreclosure, such as Arizona,California, Florida, Nevada and New Jersey, Lender Processing Services reported.
In California, which has the largest number of homes facing foreclosure, short sales have outnumbered sales of bank-owned homes since August. In January, 37.2 percent of homes sold in the state were short sales compared with 25.8 percent for foreclosures, according to Lender Processing Services.