Foreclosure deals now like finding a needle in a haystack

It is no secret that Real Estate in general has bottomed and is steadily trending north. Here in South Walton , Bay, Santa Rosa and Okaloosa Counties we simply can not find enough property for the amount of buyers that are continuing to surface. Investors and Homeowners alike have realized that waiting any longer to buy with interest rates at historic lows and prices starting to move would be foolish. The panic that we are seeing is not on par with the madness of 2004-2005 but it definitely has a get me in the market mindset. Buyers are still looking for Foreclosures and Distressed property. The easiest way to get those type deals is to have patience and call us so we can get you on our first look list when they come online. Most of the Foreclosures last less than 48 hours on the market so you must be prepared to act quickly. There was a time in the last few years where short sales mad no sense to pursue. I have since seen a shift in this marketplace and now feel that chasing short sales for investors is a good idea. Investors have the time to wait and they can name a price to pay, if the bank takes it then great and if not they simply move on. This strategy does not work as well for Primary Homeowners as they usually need to get settled in and have little time to wait possibly 6 months or more for approval or denial of a short sale property her along the Gulf Coast of Florida.

The market is showing no signs of letting it’s foot off the accelerator and I anticipate this will continue for the next few years. The Federal Reserve is in no position to raise rates any time soon and with 30 year fixed rate mortgages around 3.5 % it is very wise for buyers to take advantage of this. The Fed is also considering Quantitative Easing 3 which will be a massive liquidity injection into the market which will further put pressure on rates to the downside as well as inject money into the US economy across the board. If this happens it will be like pouring gasoline on a fire in the world of Real Estate. With all the talk of the failing European and US economies, it is very nice to be in an industry that has come out of the worst down cycle in history and is now poised to lead the US recovery. We will be happy to advise you on the Real Estate market as well all of your Distressed and Foreclosure property needs here along the Emerald coast. If you are panicking because you missed out on the last few deals because you were late to the game , then Relax, you found The Williams Group.

 

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