At a quick glance, it looks like the days of throwing out an offer on a bank owned home with the hopes of them biting on a low ball purchase agreement are gone. List to sale price on these homes are now higher than traditional home sales and it just shows how competitive that segment of the market is right now. Days on market are also lower.
Inventory is also low, real low for foreclosures. Less than a 2 month supply of homes on the market in the Twin Cities.
Twin Cities Foreclosures & Short Sales Ocotober 2009
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I’ve been hearing this for a while as well. I’m wondering about the so called wave of foreclosures coming up. Will they really? or is it an assumption?
It’s hard to say with all the diluted information out there.
Now with Fannie announcing that they will serve a ‘lease for deed’ program, the entire country now becomes landlords, but hey it holds the foreclosures off the market.