In 2011, about 1% of all sales in the REBGV area were foreclosures.
In the Fraser Valley its 1.75%;
In Chilliwack its about 6.5%;
And in the Okanagan its about 5% of sales;
(According the the most recent sales available from the BC Real Estate Association's Foreclosure Instructor)
Typically a property owner facing foreclosure is a first-time buyer of a condo- Who had a low-down payment and high-ratio financing.
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