WKOW 27: Madison, WI Breaking News, Weather and SportsDane County foreclosures getting worse: 26 percent of all sales 'distressed'
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By Bob Schaper - bio | email | Twitter | Facebook
MADISON (WKOW) - A quarter of all home sales last month involved distressed properties - and the situation could be getting worse.
Peter Zarov, owner of Homestead Title, says the number of distressed sales - such as short sales and auctions - is likely to go up because closings lag months behind foreclosures.
"I'm hoping we're at bottom," he said. "But every time I say that it gets worse."
Nationally, distressed sales were 33 percent of all sales in April, according to the National Association of Realtors. That was down slightly from March, when it was 35 percent.
We'll have much more on this story at 27 News 5, 6, and 6:30.
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