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8 | Page <br /> <br />Residential Lender-Mediated Sales Foreclosures Properties in which the financial institution has repossessed the home from the owner due to non-payment of mortgage obligations. Short Sales Unique arrangements where the financial institution and in-default home owner work together in an attempt to sell the home before it is foreclosed upon. In both situations, lenders are highly motivated “sellers”, which can result in discounted asking prices as they attempt to move the assets quickly from the balance sheets. Lender mediated sales are not used in the sales study. <br /> <br />3,963 3,907 4,103 4,004 <br />4,341 <br />236 179 91 54 22 <br />0 <br />500 <br />1,000 <br />1,500 <br />2,000 <br />2,500 <br />3,000 <br />3,500 <br />4,000 <br />4,500 <br />5,000 <br />ay2018 ay2019 ay2020 ay2021 ay2022 <br />Comparison of Arm's-Length & Lender-Mediated Sales <br />ay18 -ay22 <br />Arm's-Length Sales Lender-Mediated Sales