OK. So I'm sure everyone sees the bad rap the real estate market has been getting in the press lately. Well our local market has actually seen an increase in number of units sold, to date, since June of 2009. Also, in certian micro-markets around town we are seeing prices stabalize. That is the good news!
The bad news?.......There is a looming "shadow inventory" of foreclosed homes across the nation that may flood the market with new "distressed" listings for sale. This can affect sales prices in areas where there are multiple bank owned properties.
But for the buyers, there are some unbelievable deals. I had an investor tell me the other day, he bought a 2 bedroom house for $15,000...........that's a steal. And he can probably rent it for $650 a month! On the other end of the spectrum, I have a waterfront home with 2 boatslips listed for sale, bank owned, that just went under contract for $200,000 less than asking price........Wow!
Check out my other bank owned properties on our team website. www.leecrouch.com or simply text or call me at 910-619-6174 and I can tell you all about the great deals out there!
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