That's a great question. I can only speculate that nearly all lis pens are 2nd home/speculative ???85%???
I watch it every day.
We've Peaked On Foreclosures ! - NOT !!!
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That's a great question. I can only speculate that nearly all lis pens are 2nd home/speculative ???85%???
I watch it every day.
Back at the end of September I guessed we had peaked. With final September numbers in and projecting forward the last week of October Lis Pen activity indicates that prediction may have been premature.
What's interesting is that most of the homes and lots represented over the last 6 months or so in this graph aren't on the market yet. The big unwind of this whole thing should be interesting to see. Next summer maybe?
What's interesting is that most of the homes and lots represented over the last 6 months or so in this graph aren't on the market yet. The big unwind of this whole thing should be interesting to see. Next summer maybe?
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Foreclosures Finally Slowing???
I think foreclosures may be slowing. There were just 27 foreclosure actions filed in Walton County in the past week.
I think foreclosures may be slowing. There were just 27 foreclosure actions filed in Walton County in the past week.
This morning I realized that the foreclosure/legal notices section of the hometown paper has grown from a partial page to 5. We've still got a long way to go before it all gets cleaned out.
They seem to get gobbled up quick though. I have been working with a client and we have missed the foreclosure contract twice. We found another one and when we showed up the day after the home was listed 2 other parties were looking at the property. We put in an offer and hope to get this one! They price those foreclosures to sell and seem to be getting multiple offers on some of them.
I have had 2 clients get outbid on different foreclosure properties this year.
It sounds like your buyers are looking for foreclosures. I've found that many buyers don't think they're getting a deal unless someone is losing something.
Remind me to borrow more than I need next time so I can sell for less than the mortgage so everyone's feeling like they won one.
Remind me to borrow more than I need next time so I can sell for less than the mortgage so everyone's feeling like they won one.
We got another letter from the bank telling us they had multiple offers!
They asked us to put our best foot forward . This is the 4th time in 2 weeks I have missed and offer. One time we came in $30,000 over the asking price! I think the foreclosure mess will get cleaned up pretty quick if the banks keep putting these low offers out!
I know what you're saying Bobby. Seems like most of them are getting multiple offers. There are a couple that I can't believe are still on the market though. Banks are pricing very aggressively on the foreclosures. There are a lot of short sales in the pipeline right now. Should make for some great buys in 2009.
We got another letter from the bank telling us they had multiple offers!
They asked us to put our best foot forward . This is the 4th time in 2 weeks I have missed and offer. One time we came in $30,000 over the asking price! I think the foreclosure mess will get cleaned up pretty quick if the banks keep putting these low offers out!
Ask the bank to show you the offers. They can black out the names etc. I find it hard to believe that any bank in this country right now are getting multiple offers on real estate.