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Distressed Properties might not be such a bargain

January 4, 2011

It used to be Bargain Hunters were actively looking for distressed
sales because they thought they would get a good deal. Not any more. With the current headlines of banks getting caught robo-signing documents without going through the proper procedures and just plain old sloppy and negligent practices, people are a little more hesitant to make an offer on a distressed property and the recent drop in sales shows this. People are looking for homes that have no strings attached and sales of regular homes are on the rise.

A new trend has been homeowners filing legal appeals to reverse judicial foreclosures. This puts the properties ownership into further doubt and another reason why people are starting to steer clear of distressed properties. They don’t want to get into the middle of a long and uncertain litigation process that could leave them without a home and less money in their pockets.

Do you have a Foreclosure story – I would like to hear it.

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