Most buyers think that bank foreclosures are all priced below market value…think again….and don’t bother to check the records for how much was owed on the mortgage…that does not matter either.
A house with a current market value at $300,000 will be re-possessed by the bank if the owner is not paying…. they could owe $345,000 on it or a mere $5,000 it does not matter. No pay; no stay.
Consumers think that the bank will only want to cover the debt owed so the less that is owed the smaller the new asking price…not so either. The bank with get a couple of appraisals and market the property accordingly; they are in the business to make money so will try to get as much as they can.
“Bank Foreclosed” is a hot button for too many buyers. Evaluate carefully…this bank deal may not be as sweet as you think.
For an expert opinion of value and a straight answer, call me.
Eve
Showing posts with label Orlando Foreclosures. Show all posts
Showing posts with label Orlando Foreclosures. Show all posts
Thursday, July 30, 2009
Wednesday, July 01, 2009
Top Foreclosure States
Here are the top filing rates for the country.
Top Foreclosures States:
1) Nevada 1 of every 27
2) Arizona 1 of every 54
3) California 1 of every 58
4) Florida 1 of every 73
Bottom Foreclosure States:
47) Montana 1 of every 2,847
48) Nebraska 1 of every 3,517
49) South Dakota 1 of every 3,721
50) Vermont l of every 14,830
Top Foreclosures States:
1) Nevada 1 of every 27
2) Arizona 1 of every 54
3) California 1 of every 58
4) Florida 1 of every 73
Bottom Foreclosure States:
47) Montana 1 of every 2,847
48) Nebraska 1 of every 3,517
49) South Dakota 1 of every 3,721
50) Vermont l of every 14,830
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