Lisa Moore

As the foreclosure moratorium was lifted on 4/1 by many lenders, we are already starting to see an increase in the number of properties being eased back onto the market. What will these properties do to the market? Initially, it is expected that investors will get some extremely good deals. First time home buyers will be able to buy a bigger and better house than they ever thought was possible but those existing homeowners will probably see their property values decrease.  The market will straighten out but it will take some time for things to settle down and get back to "normal".  Feel free to e-mail, post on this blog or call our office for specific information or questions.

A slow and steady stream of properties are coming on the market now. Once a property is foreclosed, the asset management company gets one or two opinions as to what the property is worth before placing it on the market. The seller also usually makes sure the property is properly winterized, rekeyed and trash removed before listing it in the MLS.