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Real Estate Q&A: How do foreclosures affect the market?

by Mary Bryan Fields

Q. How do foreclosures affect the market?

A. Foreclosures are affecting market conditions in our area by adding additional inventory to an already abundant supply.  The foreclosing lenders understand that price influences how quickly a property will sell.  Because the lenders want these properties off their books “asap,” they price aggressively.  Foreclosures often sell first as buyers recognize the apparent value.

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