Bank owned properties can be great investment opportunities for investors. Banks and lenders don’t want these properties and they are getting more and more of them as the foreclosure numbers continue to sky-rocket.
The question then is, are there good deals or can these properties be purchased at a discount? Banks and Lenders are not always willing to discount their properties, but oftentimes they are willing to take discounts. Banks take into consideration many factors when selling their properties.
Here are some statistics that show banks’ willingness to sell properties at discounted prices.
In Falls church, VA forclosure listings sold for 36% less that non-foreclosure listings. In Alpharetta, GA foreclosure listings sold for 40% less, in Dallas, TX 61% less, in San Clemente, CA 49% less, in Woodland Hills, CA 16% less, in Malibu, CA 54% less.
This is just a sampling of areas in different parts of the county but they underscore the point that looking into and buying bank owed properties can be a great place to buy properties below the market price.
Statistics from Trulia.com
Posted by Carter Brown
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