Tallahassee Real Estate Blog

 
Confused about what the latest foreclosure news means?  You're not alone.  Banks, polititians, lawyers and economists are all debating the potential problem and solution.  No doubt this problem will go on for many months... it's just a question of how hard an impact it will have on foreclosure sales.
 
Let's bring a little clarity to the issue.  If you're a buyer looking to purchase a Tallahassee real estate foreclosure, here's some important points:
 
Not all foreclosed homes are under review.  Only a few major banks halted foreclosues, and currently Bank of America and GMAC have resumed their foreclosure processes.  Thousands of lenders still have their homes on the market. 
 
If you are ready to make an offer on a foreclosure, it may be wise to speak with an attorney to make sure your legal interests are protected in the event the bank takes the home off the market while it reviews foreclosure paperwork. 
 
Foreclosures are not the only deals on the market right now.  There are many short sales in which banks may take a 10-20% discount off the current market value.  Short sale timelines are often much quicker than they were in the past.
 
A real estate professional can owrk with you to determine which foreclosures may be under review, and which ones have less risk of being in question.   
 
Contact us at www.TallaHome.com or call 850.329.0050 for information on Tallahassee real estate short sales and foreclosures.  We can make your Tallahassee real estate transaction run smoothly!   
 
Take a look at this video on the foreclosure situation. 
Posted by Terance Keenan on October 20th, 2010 12:31 PMPost a Comment (0)
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