There’s little doubt that the nation’s foreclosure crisis is over. Foreclosure filings — which include default notices, scheduled auctions and bank repossessions — are down significantly over the past two years.
In fact, foreclosure filings are at their lowest level since 2007. The drop has many home buyers wondering if it’s still possible to find a bargain-priced bank-owned property.
For starters, the foreclosure pipeline didn’t just shut off. There are still plenty of distressed properties that banks will continue to need to work through for years to come. And there still are many lower-end bank-owned properties being sold by banks that are good candidates for rentals or as fix-and-flip projects.
If you’re interested in purchasing a distressed property, we can help you explore your options in the area you’re thinking of buying. Give us a call!