A search on RealtyTrac shows 1,559 properties in the foreclosure process or being bank owned properties. A Yahoo real estate search returns 1,196 foreclosure properties.
Yesterday, it came to my attention that a townhome that was listed at $479K last summer is now listed at $350K. A similar unit in the complex has been sitting on the market priced at $375K since January.
This is not good news for homeowners, but on the other end of the spectrum – it is great news for buyers and investors. There are many great REO (real estate owned) properties available for sale. And the numbers are climbing daily. Bank owned properties, in good repair, represent solid investments for first-time buyers and investors.
It’s also a great time for move up buyers, but they will have to face the reality of taking a lot less for their existing home than would like to. Move up buyers need to focus on the buy side savings which should be substantial.
If you are interested in bank owned properties, short sales, or foreclosures in Concord, CA – give Paul a call at (925) 963–4246.
This is a great time to make a good deal on investment properties in Concord.
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[...] We’ve reported on foreclosure activity in San Ramon & Danville, Dublin, and Concord CA. We also noted how investor activity is increasing with foreclosure purchases. And, we have have also been reporting on how lenders are trying to help expedite the purchase of REOs (bank owned properties). [...]