Foreclosure Market- I found the best buys in this Market

Banks are still store housing more foreclosures because they do not want to flood the market and lower the prices in one big drop.The lending institutions are trying to control the real estate market drop.

We are still seeing a slow response to our short sale offers with banks taking as long as 3 months to respond, if you are looking for the best buys in the market in the South Bay especially Palos Verdes Market and last month my Lomita market. Here is what it is- It is Probate and Trust Sales.

Not only are the homes in excellent condition, they have usually had a long history of maintaince and the heirs most likely need the cash or they would not be selling at this time but leasing instead, so you can get a fantastic price.

I have found my clients some excellent buys in trust sales and relocation properties compared to the foreclosures that are usually stripped down and in poor condition.

The best part is we know the history on the house and I have negotiated some wonderful bonuses for my buyers including a new roof allowance on a roof that was not leaking but tired. My clients on the probates are still getting the lowest prices in the neighborhood and some kind of insight into the past history of the home where as the foreclosures and short sales have no desire to share information due to the negative state of mind they are in having to lose their home.

Our next waive of foreclosures is suppose to hit the market next year when the adjustable rate mortgages come due which will lower our prices but as for my buyers they are getting the lower prices and great properties for the same prices of the foreclosure properties without dealing with an "as is" foreclosure that was left by a distraught Seller.

I don't see the foreclosure properties selling for less than the trust sales to make it worth my clients while to take on a lesser condition home that is in need of major repairs...The foreclosures are not the bargains in the South Bay market. Don't be fooled by the News Media.