Real Estate Facts: Distressed Properties Offer Buying Opportunities

September 2008

(576 words)

You can’t always judge a home buying opportunity by its cover. 

Distressed properties, those with owners whose mortgages are higher than the value of the house or who are being foreclosed upon, may not be pretty, but they could be just right for the right buyer, advises the [Full name of your local association of Realtors^®]. 

As many as four out of 10 home sales today involve distressed properties, according to figures from the National Association of Realtors^®.  [Add your local statistic here if available.]

The term distressed can mean homes that are in some stage of the foreclosure process. It can also refer to short sales, where the home is sold for less than what the seller owes on the mortgage.

“While there are buying opportunities in foreclosures and short sales, the process can be very complex,” says [Full name and title of spokesperson].  

Because distressed property owners are often burdened with debt, many of these homes are abandoned or in disrepair.  “The key to buying a distressed property is working with professionals – beginning with a Realtor^® who understands where to find distressed properties and...

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