The Raleigh News and Observer seldom misses an opportunity to get real estate facts twisted.  But today, they got one right, pointing out that foreclosure lists are free, and there is no need for the average person to pay for those lists.

"Ads sell foreclosure info that's free" on the front page of today's Business section brought that point home fairly well.  They quoted a broker at a local firm who correctly mentioned the lack of margin in most foreclosure listings.

This is interesting to me.  Recently, the requests for foreclosure listings in Cary, Raleigh, Apex and other areas in and around Wake County, NC, has peaked again, with more first-timers and other folks on tight budgets asking if I can offer them foreclosure listings.

There just aren't a lot of true local bargains in foreclosures, and if one is working on a tight budget, it is even worse to throw away money unnecessarily on publicly available information.

 

5 Comments on Cary and Raleigh, NC Real Estate: News and Observer gets one right! No need to buy foreclosure lists!

Mike, you are so right most of the foreclosures are just not that great of a deal; especially when you consider there is no seller's disclosure so you are buying as is.  If someone has went in to foreclosure then they have not been taken care of their property and no telling what you are getting in to.

01/10/2008 08:58 PM by Marchel Peterson Spring TX Real Estate E-Pro ABR (Results Realty)

Mike  -  this is a game that most of us don't have experience with here!  From the CONSUMER TRENDS I am seeing - it's a subject we are going to get MORE familiar with! ;o(

01/10/2008 09:36 PM by Eleanor Thorne, Cary Mortgage Loans (Meridian Residential)

Marchel,

Right!

Eleanor,

It seems to me that we have had a fairly consistent stream of foreclosures, but they have  been readily absorbed.  I have been asked for foreclosure listings for about forever, it seems.

01/10/2008 09:47 PM by Mike Jaquish Keller Williams Realty, Cary, NC (Keller Williams Realty)

Of course, everyone wants a deal - and hence, many are asking about foreclosures. So many people believe what they see on those Flip It shows - and that they will make $50,000+ on these houses - when most of the time, this just isn't the case. Increasingly, clients are asking me about foreclosures, too.

01/10/2008 09:53 PM by Darleen McCullen, Broker-Raleigh, NC Real Estate (Keller Williams Realty - www.darleenmc.com)

Darleen,

Increased interest in foreclosures is fed by news indicating a rise in foreclosures also.

In Cary, we have not seen as large an increase as many markets across the nation have seen, and folks get a little frustrated that I can't show them cheap foreclosure listings on every corner.

01/11/2008 07:39 AM by Mike Jaquish Keller Williams Realty, Cary, NC (Keller Williams Realty)

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Real Estate Agent: Mike Jaquish Keller Williams Realty, Cary, NC (Keller Williams Realty)
Mike Jaquish Keller Williams Realty, Cary, NC
Cary, NC
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Keller Williams Realty

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Musings and meanderings around the North Carolina Triangle area, with pithy stuff about the Raleigh and Wake County area, particularly Cary, and thoughts about the Real Estate industry.

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