Real Estate Trends

What happens when you get more homes going TO the banks than the banks can sell? Well, this is one of the many struggles facing our nation's banks right now. The rate of foreclosure is higher, and has been since last year, than the banks' rate of sales. This dismal dynamic for banks may not be so dismal for the investor or homebuyer. Arguably, banks may be more in the mindset to negotiate on price, where previously, banks had little wiggle room. The obvious downside to this trend is the lowering of home values. No one in a community profits from increased number of foreclosures and the banks inability to sell them in a timely manner. The American economy is greatly suffering from this subprime mortgage crisis that has led to so many defaults and bank foreclosures. The trade off is that you may get less for the sale of your home but, if you are willing to be flexible in timing and what you are looking for, bargains are a dime a dozen. If you are interested in getting listings of these great buys, give me a call! (303) 868-0352