Foreclosures are getting harder to find! A few years ago, in our MLS, you could just click on Foreclosures under Special Circumstances and get a list of almost all the foreclosures in our market. Not so anymore, now you must search under all of these special circumstances in hopes of finding them, Foreclosure, Lender Owned, Corporate Owner, Government Owner, Sold AS/IS, No disclosure from seller. I received information this week that one lender will no longer allow Foreclosure, or Lender Owned to be used on their listings, but will still allow Sold AS/IS and No disclosure from seller.
Sign of the past?
Secondary websites are having a hard time keeping up, most are not equiped with the search capablities to give internet users all of the properties in foreclosure with this current search criteria. I notified Listingbbook this morning that they needed to add additional search items under their special circumstances so they can give my clients a complete list of the foreclosed homes.
Maybe this will be a good thing, if you have clients that think that a bank foreclosure is the only way to go, it will force them and us as well to take a second look at a well priced market listing.