Foreclosures

Foreclosures are not always the best deals to be had. In fact, many times the best deals are to be had with an anxious seller who is willing to let some equity go or willing to go tot he bank and ask for a short sale. Once the home has been through the foreclosure process, the reo department hires a realtor who runs the comps and prices at or around market. Many times the repairs to the foreclosures exceed the market value and the banks are not willing to make the necessary mark downs until the time triggers the next price reduction. In this market, one needs a Realtor who will truly dig up the best values (if that is what they are looking for), rather than relying on the tags of "short sale" and "foreclosure". After all, good deals are to be had - they may just not be the obvious ones!