Charlotte Foreclosures and all Charlotte Homes for Sale are selling quickly once again! Many greater Charlotte Foreclosure Homes for Sale are incredible investments! Foreclosures result in home equity in a short time frame; search all foreclosures in the greater Charlotte area today! The best part: All Foreclosed Charlotte bank owned homes are listed in the Charlotte NC MLS! This includes all Charlotte REO Homes which are also known as Charlotte Real Estate Owned (by banks), also known as Charlotte REO properties, Charlotte HUD Homes, Charlotte Fannie Mae Real Estate and Charlotte Freddie MAC Properties! Request a Custom Charlotte foreclosure Home Search for free by contacting me, Abby Nelson directly at 704.890.1860 or email AbbyNelson@bellsouth.net.
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In July, when comparing foreclosure sales from July 2012 to 2013, the percentage of Charlotte area single family foreclosures has decreased from 22% down to 15% of the total market sales! In addition, the prices are much higher than a year ago. No, the market has not yet recovered. In strong times, the foreclosures are closer to 5% (3% is more ideal in a healthy housing market).
All of our Charlotte foreclosures sold in 2013 are represented in this graph as a percentage of our total Single Family Home Real Estate market. The graph indicated that the foreclosures have dropped to almost 1/2 of how 2013 began. This is definitely a trend of a recovering market. A stable/recovered Foreclosure market will be around 3% foreclosures. This Sales graph is for all single family foreclosure homes sold in the Charlotte MLS for 2013. The Ratios include Charlotte Region Foreclosure Homes, Undisclosed Conditions and Total Sales by month. I have noticed the undisclosed "Special Condition" usage is increasing; 90+% of the "Undisclosed Sales" are in fact greater Foreclosure Homes sales.
There is a lot to understand about the foreclosure process. Home buyers want to minimize their risk and want homes that are already Charlotte bank owned homes or Charlotte Short Sales. Charlotte NC Bank owned homes "can be" a great value!
As previously shared there are several Government Foreclosures. Charlotte HUD Foreclosures are very popular. HUD homes technically have already passed through the foreclosure process and now is owned by the Government. Only a HUD approved Broker can bid on these homes (I am a North Carolina and South Carolina HUD approved Broker). Their is a lot of information for the purchase of HUD Homes and we can go further into the process at a later time. There are also USDA Foreclosures, Fannie Mae Foreclosures and several more. Each has its own process and I am familiar with the variations within Charlotte Foreclosures.
Charlotte Short Sales and Charlotte investment properties? Purchasing Charlotte REO properties with equity is always a plus! Why not? Search all foreclosed homes for sale in Charlotte NC.
How do I purchase Foreclosure Homes?
First step for finding Foreclosures: All foreclosure Homes listed for sale are already "owned by the banks, finance companies or mortgage companies". Do not pay for a website to view Foreclosed Homes! When a bank owns the property, the bank/lender obtains a clean title (no liens or risk) and markets the foreclosed property with a Charlotte Realtor.
Are looking for Charlotte Real Estate pre-foreclosures or Short Sales? Short Sales are an entirely different process and you need to be patient. If the short sale is your "dream home", then by all means let's put in an offer. If not, the odds are you will find a more appealing deal well before the Short Sale is accepted or denied. Expect to wait at least four months before the bank responds to your offer. A Foreclosures are typically preferred since they close more rapidly. We can discuss this more in person.
Top 10 Charlotte Foreclosure Tips
WARNING: It takes an experienced Realtor to understand which Charlotte neighborhoods will be prone to future Charlotte NC distressed sales. During the era of sub prime loans some Charlotte NC neighborhoods were complete and others just in their early phases. A popular established older neighborhood will be less likely to have foreclosures in Charlotte (less high risk loans) than newer Charlotte Area neighborhoods (sometimes lack the stability). You need someone looking out for you. How is your great deal going to look six months from now?
NC has programs that will help you avoid an NC foreclosure so keep in mind that you always have options.
Charlotte Foreclosures Charlotte Foreclosure Homes for Sale Charlotte NC Foreclosure Homes for Sale
Authored by Rick Waite
If you have any questions or concerns about Charlotte property for sale give me a call. I am a full time Charlotte Real Estate agent, licensed as a North Carolina Realtor and South Carolina Realtor. I am here to help find the best Charlotte homes for sale and Charlotte Foreclosures.