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Abby Nelson's Advice

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Abby Nelson wrote:

When will banks release backlog foreclosures for sale?

Answer
What a great question! Realtors have been asking the same question for about a year now. The banks continue to advise that it is coming and will be much more inventory than in prior years. Yet, we all wait.
April 23 2012
(0)

Sold Homes on Craigslist

Response
It is to simply get their phone to ring. Craigslist is free free free. The more times someone sees their name, the more likely you are to call. Posting a pending sale will do many things for the agent. #1 it shows you the buyer that the agent can sell a house. #2 It generates interest for back up offers on the property. Many pending sales do not go through for various reasons. #3 It could be a combination of these reasons added to simply updating and old ad to pending. It will look like a new ad if you edit your current ad.  
April 18 2012
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Where are all these foreclosures I keep hearing about?

Answer
As mentioned in other responses, inventory will vary per market area.Also, the banks have had a great deal of their inventory on hold for more than a year. In the past year, the foreclosed properties being released for sale has dwindled to a mere trickle. The banks have been telling agents that they are coming for the past year. Now, the banks are trying to prepare agents for the sudden influx of inventory. With that said, I believe you will see more bank owned properties for sale soon. Your best bet is to set yourself up with a buyers agent that has real knowledge of bank owned properties and how the process works. My team often deals with agents that have no clue how to help their buyers acheive the goal of making it to the closing table. Good luck to you!
April 12 2012
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