I feel the banks were holding prices up through 2008 to get close to the full amount owed on the loan & not have to write it off in 2008. Now that we are in 2009, I feel that most banks are willing to take less for these ditressed properties since they will write off that loss on the '09 books.

I have been showing foreclosures/short sales/bank owned properties in Carolina Beach for several months now. Quite a few have been dropping prices & a good chunk of the sales are on those property types.

If you'd like a list of these in Carolina/Kure Beach, feel free to call or email anytime......910-619-6174 or choskins@intracoastalrealty.com

Thanks - Chris

In an effort to cut their losses banks are doing the same thing sellers were doing two years ago.....trying to hold the level of pricing.

Once you find a "foreclosure" you are interested in, your offer should bring the price to your comfort level.

Our best advice is to find an agent, get pre-qualified for a loan, and start looking. This way you will be ready when the opportunity shows up.

Good luck,
The "Eckler Team"