Your guide to 'foreclosure rate' and other distressed terms.

By Marcie Geffner - California Real Estate

Short sales and bank-owned properties are likely to be a fixture in many California housing markets for the foreseeable future. That’s why REALTORS® need a better than-basic knowledge of facts and figures that relate to these properties, so they can obtain more listings, close more transactions, and differentiate themselves from their competitors.

“It is not inconceivable that in California, at least for the next year, virtually all of the opportunities for most agents will be some sort of distressed property sale,” says Rick Sharga, vice president of marketing at RealtyTrac in Irvine.

“Like it or not,” adds Sean O’Toole, CEO of in Discovery Bay, “you have to come up to speed on this information.”

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