Comments on: 5 Best Foreclosure Bargains

By: Marc Grossman

Marc Grossman — Mon, 14 Apr 2008 15:00:35 +0000

Maureen, Thank you so very much for the mention. I would have commented sooner, but was out showing property yesterday and had internet issues last night. That’s one way to stop working for the evening.

Everyone has made some very good points. Yes, we are seeing a good deal of foreclosures in the Orlando market as well. There are surely some great deals out there in the resale market and as you mentioned, they don’t necessarily have to be foreclosures.

Orlando is very lucky in that we are a destination city. That has generally kept us above the national average in appreciation, etc. It’s a great place to live with so much to do outside of the theme parks.

There’s no place like home!

By: Maureen McCabe

Maureen McCabe — Mon, 14 Apr 2008 14:11:27 +0000

Thanks guys (and gals… I guess mostly gals) for the comments as you can see we did NOT have a crazy run up in values as a market… in Columbus.

Median price of a home in Columbus $147,400 (MSA.)

Not that we don’t have foreclosures available and opportunities locally but if people need to move to a sunnier area… they ought to be reading the blogs in those markets now and be making decisions quickly if they want a bargain. I found some stuff specifically about foreclosures on some of the blogs I mentioned but wanted to recommend the blogs as a whole if people are relocating from Columbus for some reason. Get the whole story about Phoenix, Denver, Miami etc.

I think our unemployment is below 5% too…(I think it was at 5% in February… Not something I pay a lot of attention to usually) and Columbus is considered very stable… no run up in value… no steep decline and that has something to say for a market too… there’s no place like home.

By: ines

ines — Mon, 14 Apr 2008 06:06:50 +0000

Thanks Maureen - Like Maggie, I am shocked at the deals I see in Miami every day. We are currently handling a short sale in one of those infamous new buildings so attacked by the media.

As Jay said, “one persons misfortune is another’s opportunity” it’s sad but true

By: Jay Thompson

Jay Thompson — Mon, 14 Apr 2008 04:45:15 +0000

Well thanks Maureen!

Foreclosure (and pre-foreclosure) opportunities abound in the Phoenix market. Our insane run-up in appreciation from late 2005 - early 2007 has resulted in a LOT of folks that are now “upside down” in their mortgages. We’ve still got 50,000+ listings, and many are short-sales / REOs. Lots of sad stories out there, but (sadly) one persons misfortune is another’s opportunity.

By: Palmetto Bay Redland Real Estate

Palmetto Bay Redland Real Estate — Sun, 13 Apr 2008 23:56:44 +0000

Every day I am surprised by yet another great bargain in Miami, especially the Homestead area. I have bank-owned listings myself and have found them to be very easy to deal with, it just takes a little longer to accomplish the task.

The opportunities available for buyers in Miami are abundant right now. The only problem is that when a great one shows up it is usually snatched up in 10 days or less. This is not the market of last year when the buyers could take their time making up their mind. With a good agent on the lookout for you, a bargain is easier to find.

Maggie Dokic