Bank Foreclosure
I specialize in selling these types of homes. The biggest miscnception is that people think that all foreclosures are good deals and can be bought well below or even half of market price. Real Estate values are local to that area. In my market the foreclosures are holding tight with the fair market value and are price right. They are 100% of the market. Pennsylvanie is Ranked 37 on the chart for foreclosures and is now up to 4% foreclosure. We had been steady at 2.5-3% foreclosure prior to the big melt down and really only increased a little more than 1% but the media blows it out says that the rate of foreclures are up25-30%. This is all true but blown out to make the number look really big and in reality is only a small number.