That's a great question, and one we are asked frequently. Unfortunately, the banks are under no time constraint to get a property on the market. If you click on the mapping feature with the listing, you can see that it is between the 22nd and 24th blocks of Hall Avenue, so that will give you an idea of the location. Also, the price they are showing may not be the final listing price. Many times, the banks will have several real estate agents give "price opinions" of the value of the property. While this is not an appraisal, it will help them in determining what is a fair price considering the location, condition, and neighborhood values.
In the meantime, the best thing to do is to keep checking with the various websites that show foreclosure listings. I know that's not a great answer, but sadly, its the reality of waiting on foreclosures. Thanks - let us know if we can be of assistance at Advantage Realty!
Julie Smith, Associate Broker
Many agents/brokerage firms are qualified to work with buyers looking to find HUD or other types of foreclosures. Its important to work with an agent/company who understands the process and can guide you in that manner. You should also ask about Buyer's Agency and who is representing whom in the real estate transaction. There are some great buys on foreclosure properties, but they do have specific ways that they want the process completed. Many times, you are competing with other buyers to get offers submitted, so its important that your agent has knowledge of how to submit your offer so you don't "loose out" on a house that would work for you and your family. You can visit the HUD website, www.Hud.gov for more information.... more