People with a stake in the real estate market, especially those who invest in distressed properties, need straight and accurate answers. Data inaccuracies can make the difference between success and failure in real estate investment. A recent article from Dow Jones reported divergent results in how they counted foreclosed properties. They compared data from the 2 largest foreclosure listings services, Foreclosure.com and RealtyTrac.
RealtyTrac includes properties in the early stages of foreclosure, before the bank actually owns the properties. According to RealtyTrac as quoted in this article, about 60% of these get remedied or the properties are sold they get to the auction stage.
Foreclosure.com only reports officially foreclosed homes that have been turned over to the banks. Homes in preforeclosure are listed as a Preforeclosure on their website.
For read the article in its entirety, please go to Dow Jones.
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