An Attractive Month in Sales for Fairfield, Alabama
By all accounts, Fairfield homes sales have been looking pretty good. As a resident myself, I'm particularly glad to see the traffic of homes rotating on and off the market. That's a good sign that Fairfield is worth the investment.
The total sales for Fairfield for the month of August 2018 was 9 homes sold and that is not including those that are still in contingent or pending status. You can get a better understanding of pending and contingents sales by checking out one of my previous post on the subject.
First, let's look at resales of non-distressed properties for which there were 4 properties sold. Non- distressed properties are those properties that are not foreclosures, corporate owned or otherwise distressed in some way.
The remaining 5 properties are either foreclosures, bank-owned or other distressed properties sales such as short-sale. This chart also includes properties that may be deemed investment properties.
If you are a Fairfield resident, don't flip out about foreclosure sales because many of these properties may be in fairly good condition. Even if they are not, it's quite possible that the person or persons that purchased them will turn around and do some updating or renovations and list it for sale and based on recent sales for Fairfield, you'll have a new neighbor that's a homeowner and one less vacant property in the neighborhood to worry about.
If you are a homeowner considering selling your home, one thing that works in your favor with regard to sales of distressed properties, if the buyer is being financed, distressed properties are not used as comparable sales data in determining the value of your property. Now ain't that good news?
As always, if you are in the market to buy or sale a home, whether in Fairfield or elsewhere, I'm at your service. Please feel free to reach out to me for questions (it won't cost you a dime to ask and you'll be more informed than before you asked).