Aggressive Pricing to Move HomesBanks in America are all agreeing to have more short sales and pricing aggressively distressed properties to get them of their books. This according to Realty Trac. This will be advantageous for both home owners that are struggling due to the economy. These home owners will avoid foreclosures and lenders will lose less money. The potential home buyers that are on the market, trying to get the best deal possible will also get a better bargain, below market rate price tags on homes.
Some states that have the most increases in pre-foreclosure sales such as selling through short sales sell the homes for less of the value of the loan. These types of home sales help keep the value of the home, because pre-foreclosure homes sell more than the REOs of vacant bank owned homes.
Now, with even bigger deals on short sales, home buyers have even greater chances to score great homes at a great price. The average sales price of a property recently was 21% less than the regular home listing.
And buyers are not the only ones that are happier, the banks are also seeing the benefits. The short sale of a home takes less time and less money to process especially compared to judicial foreclosures like in states that foreclosures make it in court, possibly being handles for up to three years.
Short sales are not the only better deal out there. It seems like bank owned properties are also getting in on the deep discounts. Recently they were marked down of about 40% compared to a regular property. There’s a really big inventory out there of distressed properties, according to latest reports that it will take about 47 months to clear $405 billion worth. Sales from homes that were in some stage of the foreclosure process also decreased, by 31% to be exact. For Maryland, there have been 3,866 foreclosure sales in the second quarter of 2011. The average sales price was $178,615.
If you find a deep discounted short sale home and are ready to buy, don’t forget the local Maryland movers for a professional move. The Maryland moving specialists are part of a huge network of expert movers across the U.S. with moving offices in Nashville, Salt Lake City, Oklahoma City, Jacksonville and other destinations. The All My Sons of Maryland movers will quilt-pad wrap your furniture and safely transport your personal belongings in our moving trucks. You can really count on the Maryland movers to move your family to your new home.