We are at the point where the majority of homes on the market that are great deals will be foreclosure homes though you can still find some nice deals on homes that are not foreclosure homes. We will be keeping track of the new bank owned homes in Brandon and the surrounding areas. Foreclosure homes are a lot easier to purchase than short sale homes and most can be bought at great prices. Browse the Brandon foreclosure properties below.
foreclosure
Bank Owned Homes Brandon as of October 24, 2008
39 Bank Owned Homes Active
22 Pending Bank Owned Homes
84 Bank Owned Homes Sold to date
Bank Owned Homes Riverview as of October 24, 2008
58 Active Bank Owned Homes
35 Pending Bank Owned Homes
137 Bank Owned Homes Sold to date
Bank Owned Homes Valrico as of October 24, 2008
27 Active Bank Owned Homes
17 Pending Bank Owned Homes
78 Bank Owned Homes Sold to date
This information here is provide for convenience and should not be solely relied on. All information should be verified. Data pulled form the Mid Florida Regional database.
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Hey my market is being dominated by forclosures and short sales. I was wondering what % of sales in your area are distressed?
In my market area there are plenty of great deals, though some of them happen to be foreclosures. I was amazed over the weekend. I wrote up a offer for myself on a foreclosure at full price, and when I was finally able to reach the listing REALTOR he told me not to bother faxing it over as they had a bidding war over the weekend and the bank had already signed off 20K over the asking price.
Cedar City – I am surprised to hear that foreclosures and short sales dominate your market. I didn’t think that market took off in 2004 and 2005 to create the foreclosure mess. My grandparents live in Cedar City.
Dan,
Do you see foreclosures dragging prices down in Brandon? That is happening in a lot of neighborhoods here in Sarasota, Florida.
The number of foreclosures will most likely explode in the 1st quarter of 2009. Freddie and Fannie’s moratorium is only delaying most of the unavoidable foreclosures in my opinion. Now a glut is headed our way.
@ Sarasosta Hey Marc yes the foreclosures are certainly dragging down prices, I am not sure there are too many areas that is hasn’t affected.
@ Vining Realtor the moratorium is only going to work if the banks are willing to help struggling homeowners get back on track otherwise you are correct it is just going to get worse.
@ Jim Yes that happens a lot here with foreclosures sometimes the banks under price them and it almost becomes like an auction
@ Cedar I don’t have the exact numbers but they are pretty high.
Foreclosures will drag down the market everywhere. We need a fast sell off.
I am thinking about picking me up a home right now. It seems like you could get a great deal with a short sale.
I have a home in Ft. Myers that I bought in 1999. My equity was thru the roof during the peak and I was seriously thinking of an equity line to buy something else. Good thing I didn’t because current value is back down to my 1999 price. We do need a fast sell-off of these foreclosures but I truely think that this is a great time to buy. Hopefully we can apply a stronger job market this year, which is doubtful, but when more jobs are out there, more REO’s will sell.
Foreclosures is obviously sluggish the market. We need a better forge to take our self out unless the market not only drag down we also lay down with the market.
Foreclosure is rampant in the US. Luckily, we don’t have much problem regarding foreclosure here in Sg.
Foreclosed homes are a perfect opportunity to buy houses at a rate which is 50-60 percent less then their actual market value. Due to the ongoing recession, many people have become loan defaulters thereby resulting in foreclosing their houses by the lending institution. Buying foreclosure home is an excellent investment but before buying foreclosure home, it is important to examine the house to check if there is any need for repair work. Also, always buy a foreclosed house after checking the locality and the neighboring areas. While buying foreclosure homes, taking care of these aspects will help you in getting a profitable deal
Regards,
Michael McLaughlin, Cary real estate
True. The best deals on the market right now are forclosures and short sales. One of the troubles with this is qualifying for a mortgage with teh current lending requirements or having the cash on hand to close the transaction yourself. Assumable mortgages and seller carrybacks may also be good solutions in this market. Either way their are great opportunities out there.
We have 50 bank owned homes under $125,000 in Tacoma and we’re seeing bidding wars on the really good deals. In total, 600 active listings under $200,000.
Foreclosured properties seem to be the big fad in the us today. While many people are facing financial ruin, others are picking up homes for half their original value. It’s amazing the food chain our housing market has almost turned into
Buying a bank owned home is definitely a good option for those who want to buy a home right now, especially if they’re on a relatively tight budget. But I agree with you, it’s definitely a good idea for buyers to consult a professional Realtor who can guide them through the ins and outs of the process. Great blog! Thanks for posting this.
http://www.massachusettsforeclosures.com/ points out that foreclosures have certainly dropped in the state, but they are certainly high as well.