According to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions buyers are starting to turn up their nose at distressed properties. According to this report, 14% of home buyers and 6% of investors refused to look at foreclosures in their search. Short sales were more of a turn off with 30% of home buyers and 20% of investors saying no thanks.
Avoiding short sales makes sense to me. I guess I could see avoiding REO / Foreclosures in a state that has had legal issues with clear title. If the REOs are in poor physical shape I could understand it too. Neither are really an issue in the Leavenworth real estate market.
For those who are interested in foreclosures in Leavenworth, don't forget to sign up for our Leavenworth Foreclosure and Shortsale list to have those listings automatically sent to your inbox.
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Geordie Romer is a real estate agent with Windermere Real Estate in Leavenworth Washington. I specialize in vacation homes and second homes in Leavenworth, Lake Wenatchee, Plain, and Cashmere.
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