foreclosures

There are many signs that the foreclosure market in Hartford County is alive and well.
There aren’t that many on the market. In Hartford county, there are less than 50 active listings for foreclosed single family homes. Only a few more than 100 have sold in the last 6 months.
They are selling for close to asking price - the median list-to-sell price ratio is 97%.
They are selling quickly -the median days on market is 22. That is faster than the median for typical resales.
Why are there so few foreclosures and why are they going so fast?
Investors, novice and experienced, think it’s a good time to buy properties in distress.
Sellers in trouble are trying to sell their homes by negotiating a short sale so there are fewer actual foreclosures. There are many more homes for sale now with the description, “short sale,” “subject to lien-holder approval,” or “subject to lender approval.”