Short sales now make up 20% of the homes for sale in the Twin Cities, an increase in recent months because short sale inventory remains near all-time highs and the number of "traditional seller" homes are the market has begun its seasonal decrease. This means that no matter where you are searching and what you are searching for, you are very likely to come across several homes for sale that are short sales. So the question is: should you buy a short sale home? I have discussed short sales many times (1, 2, 3, … [Read more...]
Is Buying A Foreclosure Right For Me?
December 16, 2008 by 3 Comments
Here is a list of questions to help you figure out if exploring this home-buying avenue is right for you. 1. When do I need to move? The timeline for foreclosure/lender mediated properties can be unpredictable response times to an offer in short sale or bank owned can vary. You must have flexibility in your closing date to be able to adjust to timeline. 2. How handy am I? Unforeseen issues will crop up, especially with seasonal changes will you be able to remedy those issues with sweat equity, or will you … [Read more...]
