SPRING BRINGS SALES - In Foreclosures

As spring has come upon us, the sales of homes has begun in earnest. Some are even complaining about lack of inventory to meet the needs of their buyers. This brings about what has not been seen in some time - bidding wars.

In light of such a change in the real estate market, another group has decided it must be time to get into the market again. Those players are the banks, who have foreclosed properties to sell. After several months of NO foreclosure notices in the local newspaper, the number of foreclosure notices started climbing, as the winter fell behind and better economic news started sprouting.

This past Friday, the local newspaper listed 40 properties to be sold at Foreclosure auctions in the near future. Apparently the banks think they might be able to get in on the bidding wars, and get some better prices for their foreclosures as well. It will be interesting to see how many more notices the next couple weeks bring forth.

Steven T Cook
Loan Officer, MLO-293441