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According to the July REALTORS® Confidence Index report (RCI), twenty-four percent of respondents reported selling distressed property (foreclosed and short sales), lower than last year’s figure of 31 percent. Cash sales accounted for 39 percent of distressed sales. Respondents reported multi-bidding on foreclosed and short sale properties and also experiencing a frustrating lending and appraisal process.
The full July RCI report is available here.
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