In Modesto, foreclosures dominate real estate market

Modesto BeeJune 30, 2010 

Two of every three Stanislaus County homes sold this year have been bank owned or "short sales" to avoid foreclosure, just-released statistics show.

That's more than double the national average, and it demonstrates how foreclosures continue to dominate the region's real estate market.

Merced, San Joaquin, Stanislaus and Imperial counties had the highest percentage of bank-owned and pre-foreclosure sales in California. And California had the second-highest percentage of such foreclosure sales in the nation, surpassed only by Nevada.

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