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Where can I find the % of Virginia sales that are foreclosures?
(24502)

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Cassie posted on 18 Feb 2011 11:30 AM
In regards to Virginia, The number of foreclosures is listed on the Stats and Trends page, but I need to know the number of Total Sales to find the percentage that foreclosures represent of Total Sales in Virgina. Anyone know where this is?

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darenb replied on 28 Feb 2011 06:34 PM

RealtyTrac doesn't post the exact stats you're looking for in our trend center (although it would be a good idea to do so and I will pass your question on to our product team), but you can see these stats for Virginia in our fourth quarter and year-end 2010 foreclosure sales report.

For the fourth quarter, 26 percent of all residential sales in Virginia were properties in some stage of foreclosure or bank-owned (REO). For all of 2010, it was 25 percent of all sales.

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Lynn replied on 5 Mar 2011 08:40 AM

I spot checked a number of properties in my areas of interest listed by RealtyTrac as Bank Owned.  All ten had been sold and closed months ago.  Why are these shown by your site as Bank owned?  Do you cross-reference your data with Land Records/Tax Assessment County sites and/or the MLS?

You even have one that I bought in December still listed as bank-owned (and not even "for sale").  What is up with this?  I believe you greatly (enormously) overstate "shadow inventory".

How many other sources rely on your "data"?

 

 

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darenb replied on 10 Mar 2011 01:12 PM
Lynn, Thank you so much for your feedback. We do cross-reference our database of REO properties against sales deeds every day. The latency on the sales deeds can be up to 45 days, although the majority of them come in faster than that. We are always looking to improve the accuracy of our data, and I would like to pass on the properties you found that were already sold but still posted on RealtyTrac as an example for our database and product teams to look at and see why our sales deed matching did not catch those. Would you be willing to respond with the list of properties are e-mail them directly to me at darenb@realtytrac.com. P.S. Congratulations on your purchase of a home.
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