Everyone is looking for a Charlotte home at a deep discounted price. Everyone knows that the demand for Charlotte Real Estate will remain high especially after the national economy returns to normal strength. So where are the deals and what deals are actually better fro Charlotte homes for Sale?
I strongly recommend Charlotte Foreclosures compared to Charlotte Short Sales. Short Sales have great potential but allows a lender to procrastinate on the foreclosure proceedings. he lender will often not file for foreclosure in hopes of a better offer to arrive. The problem is that the banks are reluctant to really consider an offer that is lower than they want to consider (regardless of market value). Some neighborhoods were hurt more by the national financial meltdown. High Risk lending predominated the least expensive homes in each area. These Charlotte neighborhoods have taken a large price reduction and the banks are left holding the bag.
The high end market has also taken a major hit. Many of the high end homes were built on speculation that more people were about to relocate to Charlotte NC. Since these homes take so long to build, there was a huge inventory in addition to many sales people losing their incomes. There are great deals in these neighborhoods.
Short Sales have been taking 5 months at best. Many have taken over 10 months until the buyer finally walks away for a better deal. Many people are wasting a lot of time working short sales (dragging work for months instead of weeks) only to discover the bank ignored the offer and the home goes to foreclosure anyway! I had one of these last month! Lovely!
I feel this is a disservice to the seller who is trying to prevent a foreclosure, and the buyer who wants to invest in a new home! A Charlotte Foreclosure (which is typically already a Charlotte Bank owned home) is a much better deal. You may have some work to do but the discount still provides a good deal.
Contact me today for a custom Charlotte Foreclosures homes search!