ric041, Home Buyer in Spring Valley, CA

There are many foreclosures in the area. Are they effecting the market?

Asked by ric041, Spring Valley, CA Sat May 12, 2012

Several Coronado Av homes sold fairly quickly.

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Cory La Scala’s answer
I think in this market, anything that's not a short sale tends to sell quickly unless there's really something wrong with the property, but this has been going on for awhile now. You've got investors buying with cash looking to rent out or flip, plus first time home buyers fighting for the same properties. It really affects buyers, who sometimes have to submit a few offers before one gets accepted.

Let me know if I can help at all.

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
0 votes Thank Flag Link Sun May 13, 2012
Truthfully it definitely does have an impact.
0 votes Thank Flag Link Tue Aug 27, 2013
Foreclosures are not affecting the market as much as you would think so currently. We do not have as many foreclosures as have had over the past several years. The banks smartened up and started doing repairs to the foreclosures before they sold. Since we have less inventory of bank owned properties, the market has stabilized. Also when you purchase a property, it will be at "market value" either way depending upon the condition of the property. There are many factors to your question, including each area differs in pricing as well. I hope that helped some and let me know if you have additional questions.

Nathan M. Jones
REALTOR, Broker Associate, MBA
BRE Lic# 01410340
Realty National
Direct (619)339-0170
0 votes Thank Flag Link Mon Aug 26, 2013
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