There are terrific deals for buyers, today, especially for first time home buyers and they see this opportunity and they go for it. With the $8000 given by the Government, they head directly to the foreclosures and there are plenty to choose from.
The activity surrounding the foreclosures are astounding, especially in the under 300k range. The front page of the New York Times featured a very happy woman, today, who had hundreds of homes to choose from that had been foreclosed and was able to buy one 200k dollars less than it once sold for. These are going to be once in a lifetime opportunities. When the inventory is finally bought up, prices will go up, so if you would like to live in that home of your dreams, now is the time to buy.
Call me anytime, for a list of foreclosures in the area of interest to you.