What a strange two weeks. If you are in the real estate profession
you know this has been going on a long time. The reason banks
and institutions are in this mess is because they won’t take the
loss and sell their properties at the correct value. It’s coming and
buyers always determine valuable.
The list this week is combined foreclosures and builders properties
on the MLS in zip codes: 75205,75225 and 75230. There are a total of
258 homes for sale. 14 are foreclosures and the rest are builders that
are caught in the down turn. Some of these builders have refinanced
into oblivion and with all the inventory and competition, I’m sure some
will be willing to deal, especially the investor, speculator type. Not all
but some that need to sell. Go to the foreclosure link above right to
download the big list.
One great buy that has just come on the market is a foreclosure on
Chevy Chase, fabulous lot by Preston Hollow Park and is only $399.5K.
That’s right! The lot is worth more than that. It won’t last long, unless
the bank doesn’t want to sell it.
Truth be known seller will probably wait for multiple bids on this one-
that’s why it’s priced low, but it’s a diamond in the rough and an
excellent opportunity. Have a great weekend and relax you deserve
it!
About Terry W. Smith
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