Prices are hitting all time lows right now! Our market is full of short sale opportunities....that is the morgage holders/lenders are willing to take less then they are owed just to avoid the foreclosure process. It's a slow process so you must be patient for an answer. I recently closed a short sale that took 5 months to complete but well worth the wait...bank took $100,000 less than the mortgage and it's my understanding they forgave the debt shortfall for the owner. He saved his credit.
If you don't want to wait, a search for anxious sellers may be the better way to find that great buy. Sellers may even agree to sell at auction to produce a quicker sale. Limited buyer pool makes it a great time to bid and win a great property at a great price. High inventory is driving the prices down to the 2001-2002 pricing. You can't beat that! Call me anytime for more information.
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