Based on current market statistics, it's becoming more and more evident that there's a 60-90 day window for sellers to get their homes listed for sale and under contract. After that time period, foreclosures that are currently being held up by lenders who are reviewing their practices and protocols will be flooding the market. Despite their distressed condition, foreclosures offer attractive prices, some as low as 41% of market value. Hard to compete with that!
Here's the latest from the KCM blog:
"As we explained months ago, there is a window of opportunity to sell before a large number of discounted properties go up for sale. This opportunity will last for the next 60-90 days. By then, banks will have fixed many of their paperwork challenges and again start releasing distressed properties to the market.
Bottom Line
If you wish to sell in the next twelve months, do it now. You will get a better price today than you will later in the year."
Sellers -- wake up and smell a sale or end up languishing on the market.
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