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Monday, September 26, 2011

Survey shows first-time homebuyers growing weary of short sales

While first-time homebuyers acquired 54.1% of all short-sales in November 2009, the segment's share of acquisition activity fell to 39.7% in August with many buyers losing interest due to several factors slowing down the process, the Campbell/Inside Mortgage Finance survey showed. The August figure represented a "three-month slide and was the lowest level for first-time homebuyers ever recorded in the survey" of 2,500 real estate agents.
And 
California remains a hot spot for short sale activity, with these transactions representing 31% of all home purchases in the Golden State in August.
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