Bank Owned Homes in Silverlakes

By November 3, 2010 Market Report No Comments

Bank owned homes in Silverlakes


Bank Owned Homes in Silverlakes

There may be fewer bank owned homes in Silverlakes.  According to the figures just released foreclosure proceedings in September were at their lowest  level since 2007 at 653.  There was some assistance in lowering that number when the largest lenders pulled back to re-examine documents.  Insiders put that impact at 10% to 15% of the decrease.  What does this mean for the future?  While one month is significant it is not the only low number. In fact the number of foreclosures have been in decline for some time.  Not so ironically, prices have been steadily increasing for some time.  There has been a slight seasonal adjustment in the last two months but demand has remained strong and as we go into season I expect it to firm all the more. Take a look at the current prices for Bank owned homes in Silverlakes.

Indecision has been a hallmark of those shopping the real estate market the last two years.  People recognize the values and want to buy but are indecisive because there has not been a precipitous movement in price in some time.  In addition the overall economy has been horrid and causes people to be fearful of financial committment.  I am writing this the day after the elections and regardless of party affiliation the message today is that there is going to be change and that alone will give people cause for hope.  When things are not working they must change in order to improve.  If people believe that there will be fiscal responsibility going forward they will not be so reluctant to make financial decisions with long term ramifications.

It is time to take action.  Take a look at the bank owned homes in Silverlakes.  You may find some and you may not.  If you do take action.  Your opportunity to secure one of these homes at these unprecedented prices is slipping away.  Home prices are running 50% to 60% of the cost of new construction.  Additionally, home prices in this area that used to be well above the national average are now well below that average.  These conditions cannot continue.  Act now.  Give us a call at the Dohack Group and we will help you take advantage of this unique opportunity.

Information Provided by:

Brad Dohack
The Dohack Group of Absync Realty
p: 239-963-4811
f: 866-742-2132

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Licensed REALTOR® with Absync Realty

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