With so many short sales, foreclosures in our market place it is truly difficult to navigate in this industry. So many buyers want a so called "deal" and I am not sure these properties are a deal. But if you put those words in front of the list price they automatically assume bargains. Radio ads advertising home for sale with no money down under $20,000, cheaper than rent, signs on every street corner "we buy foreclosures" cheap.... it just seems the bottom feeders are everywhere. And it is truly sad that people become lured in by these gimmicks, this is the worst of the market. With homes being on the market so long the general public need to be in the "buyer beware mode"... use a only seasoned Realtor and if you need to work an option contract for heaven sakes go to a lawyer.... just my thought today.
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Prices are now back at 2003, 2004 levels and still no bottom. We can only hope someone knows what they are doing? Tim G states in a few weeks the bad bank assets will be bought by private investors??? This ought to be worth reading about, everytime we think it can't get much worse "surprise"....We all will be selling only REO's for next few years...