Here are some facts about distressed properties recently published by our local multiple listing service (RMLS) for the first half of 2011:

These figures compare the first half of 2010 with the first half of 2011.

- Distressed Listings as a percentage of new listings increased by 4.5% (from 20.9% to 25.4%).

- Distressed Sales as a percentage of closed sales increased by 9.9% (from 28.1% to 38%).

- Short Sale properties comprised 13.4% of new listings and 10.1% of sales in 2011, up 2.1% and 1.1% from 2010, respectively.

- Bank Owned properties comprised 12.1% of new listings and 27.9% of sales in 2011, up 2.4% and 8.8% from 2010, respectively.

Bank-owned (REO) and short sale listings are considered "distressed properties", it doesn't mean the property is in poor shape physically; although it may be!