How Will Foreclosures Affect the Raleigh Real Estate Market?
We have been hearing and reading about it, and those who are the identified experts in such matters, expect it will happen. We will soon be in the middle of a full blown mortgage crisis. This is expected to occur, when some of the monthly payments of the more creative loans have their monthly payments revised, and the initial low rates that allowed buyers to qualify for more home than they would by borrowing the “old fashioned way,” could now create a financial hardship and many homeowners could face an uncertain future meeting their financial obligation. We have our share of foreclosures in the Raleigh real estate market, however, because our market continues to be strong, and homes are continuing to sell, there are still not a lot of foreclosure bargains available. Surprisingly, many of the foreclosures in the Raleigh area are priced at market. Evidently lenders are not bleeding enough in our area to lower their prices, but that could change dramatically in the coming months as more and more foreclosures show up.
It will be interesting to see how foreclosures will fare in our Raleigh real estate market. If you are a real estate investor and have an interest in foreclosures, we can set up a property alert that will keep you updated on new and existing foreclosures. All you have to do is send an email to make that request and we will be happy to set that up for you. And, if you are an experienced or a newbie, do visit my investor page (click on “Investors” on the menu) for lots of links and information about real estate investing.
