In the last month of 2013, Maryland saw one of the highest rates of short sales in the country. More than 8 percent of home sales in Maryland in December were short sales. This compares with about 5.7 percent for short sales nationwide, reports the Baltimore Sun. “Maryland had the fourth highest percentage in the nation, behind Nevada, Florida and Illinois.”
The high rate of short sales may be a result of the large number of distressed properties in the state. Instead of losing their home to foreclosure, many homeowners are opting for a short sale, data suggest. The main advantage of a short sale is that the homeowner has the potential to end up in better standing financially after a short sale as opposed to a foreclosure.
Foreclosure auctions accounted for less than 1 percent of properties sold in December.
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Source
http://www.baltimoresun.com/business/real-estate/wonk/bs-bz-mortgages-20140123,0,1147581.story