Foreclosuren…, Home Buyer in Bloomfield Hills, MI

I hear about a "shadow inventory" of foreclosures around the Bloomfield area. Is this true? When are they coming on market?How do I find an?

Asked by Foreclosurenovice, Bloomfield Hills, MI Sat Dec 10, 2011


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Ron Thomas’ answer
Enlisting the help of a good Realtor such as Michael would be the way to go:
I doubt that there will be a major pree release.
And I doubt that there will be a deluge of Listings; they will probably release a few here and a few there.
You should give Michael your parameters and let him notify you when he sees something.

Good luck and God bless
0 votes Thank Flag Link Thu Dec 15, 2011

It appears there are bank owned houses not on the market everywhere in the Metro Detroit area.
It is very difficult to determine how many there are for a specific area. I have seen when banks take possession of a house (after the end of the redemption period) that it can be a few weeks or several months before the house iseven put on the market for sale. If there is a specific house or area, I should be able to tell you the status of ownership (pre-foreclosure stage, foreclosure/in redemption stage, or end of redemption meaning it is now owned buy the bank). Also, let you know when it hits the market.
Call or email if you have further question or need assistance with your real estate needs.


Mike Warren, CDPE, SFR
Keller Williams Realty
0 votes Thank Flag Link Thu Dec 15, 2011
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