The Wall Street Journal found a section of the real estate market that’s making some agents rich! In the article published April 9, they focus on several agents across the country that help buyers find deals in foreclosed property – many of the banked owned properties are not listed in MLS (or Realtor.com) so it’s more difficult for a potential buyer to find these properties on their own. The article also highlighted several ways agents are differentiating themselves from others – including using BUS TOURS.
“One question is how to advertise these homes. Some brokers like Mr. Braniff think buyers sniff a bargain and get excited when they see “bank-owned” on the for-sale sign. But banks often think such signs create a stigma that is best avoided.”
According to Foreclosure.Com there are over 200 foreclosed properties in Wake County, North Carolina. As a long time resident of this area, this seems staggering, however, it’s possible that this is only a fraction of the the foreclosed property available to buyers!(another great reason to work with a professional REALTOR!)
In checking zip-codes for recent “sister cities” (ones with similar population, education, age) like Ft. Collins, Colorado ( 988 foreclosures listed) and Austin, Texas (1,352 foreclosures listed) it appears the rate of foreclosures in Wake County is not that great. Good News for those interested in purchasing homes in Wake County!
One reason Wake County has such a comparatively low foreclosures rate is because of the strong job market. According to the Bureau of Labor Statistics report published April 9, Wake County was one the top 5 COUNTIES IN THE NATION with the largest gains in the level of employment from September 2006 to September 2007! MORE GOOD NEWS for those interested in relocating to Wake County!
For more information on purchasing homes in Wake County, contact Steve and Eleanor Thorne, Mortgage Banker in Cary 919-649-5058