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Home Buying in Whaleyville : Real Estate Advice

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Sun Nov 1, 2015
Dan Tabit answered:
Since you posted your question from Foreclosures, I'm going to assume you were asking about a RealtyTrac listing. 98% of these homes aren't on the market and only a few will be anytime soon. If and when they do come on, the price will have nothing in common with what they post.
When someone falls far enough behind on their mortgage there is a public notice. Many of these people find a way to either get caught up, work something out with the lender, file bankruptcy or just sit on the house for months until the bank finally forecloses.
What is shown may be what is owed on the delinquent mortgage, not what the home may sell for.
Some homes will be listed for sale with a local agent. Some may be short sales.
Bottom line, don't get distracted by those listings. Find a great local agent to show you what is available on the market and help you get a great deal on one you love.
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