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What's Happening with Foreclosures and Short Sales in the Rochester Area?
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Can you still snag a deal on foreclosures and short sales? From 2008 to 2012, many of my closings were foreclosures or short sales.
More recently, only 5% to 10% of transactions include foreclosed homes. Most foreclosed properties need repairs, and many buyers don't want to deal with them. Other properties have been repaired by banks. These specific properties are priced correctly for the market, so buyers can't get as much of a deal on those properties.
Deals are still out there, but those properties may be in remote or undesirable locations. Ultimately, foreclosures and short sales are not as popular today comparatively. Most deals are gone.
If you have any questions, please give me a call or send me an email. I would be happy to help you!
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