This may be just the window of opportunity for seller's to put their homes on the market as so many banks have been halted from selling their foreclosures. As of today, large lenders such as Bank of America, JP Morgan Chase, and Ally (formerly GMAC) have halted all foreclosures in 23 States including Florida. This means that if a buyer were in contract to purchase one of these properties, more than likely the status of that sale will be postponed and we don't know for how long. Those buyers will need to check immediately with their Realtors or the Closing agent to determine the status of their contract.
This new development should make it the best time all year for sellers to sell their homes, provided that the home is priced correctly. This is also a perfect time for buyers as interest rates are at the lowest and sellers are realistic about the prices for their homes.
Let's make this October an Octoberfest to remember! Buying and selling may never be this easy!
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