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Just in Time for the Spring Rush! More Foreclosures are Hitting the Market!

By
Real Estate Agent with Aspen Properties, Inc. BR511793000

Good Evening Everyone,

They're back! More and more foreclosures are hitting the market again.  We've been hearing about the Shadow Inventory out there for months, well they are finally hitting the market.  Of course, just in time for the Spring buyers to come out and start looking. 

Is this a good thing or a bad thing?  It depends on how you look at it.  If you are a conventional seller is certainly isn't good news because it is going to keep those values down and perhaps even impact them more.  If you are a buyer, it could be a good thing, especially if you are looking for a nice home at a good price.

There is a difference this time though.  These are not those low end trashed out properties that were prevelent in the last deluge to hit the market.  These are the nicer second homes and luxury homes that the sellers are finally giving up on trying to sell.

It is so sad that the flood never seems to end.  Just when the Spring season looked encouraging for our conventional sellers, more foreclosures hit the marketplace.  Unfortunately it has become fashionable to let your house go back to the bank rather than keep paying for it and waiting for values to climb again.  

It's a buyers market that is for sure.  If you're looking, the time to get serious is here!

Have a great weekend everyone.  

Sandra Paulow, Associate Broker, GRI, SFR 

 

Posted by

Sandra J. Paulow, Associate Broker, GRI, SFR, REALTOR®

Pinetop, Arizona

(928) 242-0300

spaulow.realestate@gmail.com

 

If you are looking to Buy or Sell Property in the White Mountains of Arizona, give me a call.  I have been listing and selling in this area since 2002.  With over 16 years of experience I can assure you I know how to treat a client.  For Service you expect and deserve, call Sandra Paulow. 

SUCCESS WITH SANDRA!

 

Show All Comments
Barb & Sal Dragotta
Macomb, MI
Macomb County Michigan

Sandra...facts that many have been anticipating over this last year; it will be interesting to see what actually does come on the market in the various states.  what may be good for the non-FC seller is that the Home they are selling will NOT need to go through approval by a Bank or Mortgage Co--other than for  the Buyer loan application.  Hopefully, this situation will work to the benefit of all. 
Have a good weekend.
Barb & Sal

Apr 09, 2010 01:45 PM
Sandra Paulow
Aspen Properties, Inc. - Pinetop Lakeside, AZ
REALTOR, Associate Broker, GRI, SFR

Barb & Sal,

So many changes are happening and it does appear that the banks are beginning to get a handle on their processes.  Buyers and Sellers both keep asking me what I think the market will do this year and I don't have a clue what to tell them.  Our market is unique in that most of our buyers and sellers are second home buyers/sellers and many of the programs that have been put in place don't help much in our market.  Guess time will tell.

 

Apr 09, 2010 02:30 PM
Barb & Sal Dragotta
Macomb, MI
Macomb County Michigan

Sandra...was able to get back on-line & came across to your post; you see, I have ulterior motives in watching what you posted about; after we complete our wet bar & 3 Bath redo & Kitchen tear-out with new LaFata [Tuscan cappuccino} cabinets, it is our plan to put our Home on the market. At this typing, Sal is still not so certain that Michigan's status is good; I, on the other hand, once we made the decision to do this--really want it all to work out & the move to FL. will happen. No one can predict the market & I least of all, can think non emotionally about it right now. Thus, my checking out of all other in the Rain who post on the subject. Again, thanks for your post.  Have a great week.
Barb  

Apr 11, 2010 03:53 PM
Sandra Paulow
Aspen Properties, Inc. - Pinetop Lakeside, AZ
REALTOR, Associate Broker, GRI, SFR

Barb,

I don't know how this has affected the Michigan market but as you know the "Sand State" like Arizona, California, Nevada, & Florida were hit the hardest.  It may work to your advantage if your market has not been hit to hard by the foreclosures and short sales.  You may have to take a little less for your home than you would like, but you should be able to find a fantastic deal in Florida.  Your home sounds lovely.  I wish you luck in getting a good price for your place and finding the deal of a lifetime in Florida.

Apr 12, 2010 02:02 AM
Sandra Paulow
Aspen Properties, Inc. - Pinetop Lakeside, AZ
REALTOR, Associate Broker, GRI, SFR

Barb,

I don't know how this has affected the Michigan market but as you know the "Sand State" like Arizona, California, Nevada, & Florida were hit the hardest.  It may work to your advantage if your market has not been hit to hard by the foreclosures and short sales.  You may have to take a little less for your home than you would like, but you should be able to find a fantastic deal in Florida.  Your home sounds lovely.  I wish you luck in getting a good price for your place and finding the deal of a lifetime in Florida.

Apr 12, 2010 02:02 AM
Sandra Paulow
Aspen Properties, Inc. - Pinetop Lakeside, AZ
REALTOR, Associate Broker, GRI, SFR

Barb,

I don't know how this has affected the Michigan market but as you know the "Sand State" like Arizona, California, Nevada, & Florida were hit the hardest.  It may work to your advantage if your market has not been hit to hard by the foreclosures and short sales.  You may have to take a little less for your home than you would like, but you should be able to find a fantastic deal in Florida.  Your home sounds lovely.  I wish you luck in getting a good price for your place and finding the deal of a lifetime in Florida.

Apr 12, 2010 02:02 AM
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