A sign of the times is an increase in the amount of properties that are being foreclosed on. There is a perception out there that foreclosures are a screaming deal and we have a number of buyers who ask us to find them a great bargain.
We do sometimes see a property get listed as a foreclosure at a below market price. However by the time the accepted offer goes to court, there can be (and usually are) multiple bids and the home often sells above it's original asking price. Sometimes considerably far higher than even the list price.
The court system has a duty to sell the home for the highest price possible, and with multiple bids on a single property - the price rapidly climbs.
There are some great deals out there... but foreclosure properties aren't always the deal one would expect.
We'd love to help you find a great deal... please call or email us for a list of the best buys on the Kelowna real estate market.
Tamara & Shannon Stone
www.stonesisters.com
REMAX Kelowna
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2 comments:
Good blog - very interesting!! I liked it so much I'm going to share with everyone.
Boise real estate
Thank you! Do you find the same thing in your area?
Warmest regards,
Tamara & Shannon
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