The Truth Behind Smyrna Foreclosure Statistics
Posted by Brian Sims on Tuesday, November 2nd, 2010 at 10:44am.While it might seem like banks are becoming more difficult to negotiate with, the truth is the deals are better than ever and here's why. Did you know the average foreclosure in Smyrna this year sold for 96% of list price? Town homes and condos sold for 95% and single family homes sold for 97%.
Banks have shifted their strategy in recent years and buyers are benefitting. They used to price high and sell low. Today they often price low and sell a little bit lower. In fact, many bank owned homes receive offers from multiple buyers because the values are so good.
A friend of mine recently bought a beautiful new home in a popular Smyrna community for $263,500. The bank was asking $275,000. While you're probably thinking this doesn't look like much of a negotiation, would you believe the average home in this neighborhood is currently listed for $532,000! He paid 96% of the bank's listed price and managed to pay less than 50% of what his neighbors are selling for. This was the deal of a lifetime!
Today there are 32 single family foreclosures and 57 condo/townhome foreclosures for sale in Smyrna. Take a look at what's available and give us a call if you're looking for a great deal!
Blog Tags
Print
ShareBe the first to comment on this blog entry!